TABLE 3

Bivariate Probit Model Results of the Relationship between Any Flood Risk Reducing Behavior and Flood Insurance Coverage for Germany

(1)(2)
Have InsuranceEmployed a Risk Reducing MeasureHave InsuranceEmployed a Risk Reducing Measure
Has flood risk information0.161** (0.073)0.159** (0.076)
Has flood awareness0.324*** (0.064)0.723*** (0.065)
Member of a flood coping network0.203*** (0.066)0.479*** (0.069)
Risk culture proxy (Elbe catchment area)0.816*** (0.081)−0.06 (0.083)0.81*** (0.08)−0.049 (0.078)
Feels another flood will not occur0.033 (0.097)0.157 (0.104)−0.001 (0.096)0.07 (0.1)
100-year flood zone−0.073 (0.08)0.717*** (0.082)−0.016 (0.079)0.742*** (0.078)
Flooded before−0.073 (0.08)0.36*** (0.082)0.125* (0.066)0.624*** (0.065)
Constant−0.369*** (0.110)0.232** (0.113)−0.869*** (0.094)−0.736 (0.0821)
Rho0.055 (0.04)0.142 (0.038)
Log-ratio test1.9 [0.169]13.92*** [0.00]
N2,1432,143
Wald test725 [0.00]542 [0.00]
  • Note: Numbers in parentheses are standard errors. Values for the constant are not the marginal effect but the coefficient estimate from the probit model. Numbers in square brackets are p − values.

  • *, **, *** Statistical significance at the 10%, 5%, and 1% levels, respectively.