Risk Reducing Behavioral Variable | Homeowners Insurance Marginal Effects (1) | Flood Insurance Marginal Effects (2) |
---|---|---|

Has preparation | 0.231^{***} (0.047) | 0.118^{**} (0.042) |

Has window protection | 0.042^{**} (0.0186) | 0.111^{***} (0.027) |

Has conducted risk reduction | 0.023 (0.021) | 0.122^{***} (0.031) |

Has evacuation plans | −0.051^{**} (0.022) | 0.005 (0.028) |

Safety | 0.000 (0.000) | 0.000 (0.000) |

100-year floodplain | 0.011 (0.022) | 0.213^{***} (0.032) |

Distance to coast | 0.017^{**} (0.008) | −0.013 (0.009) |

Experienced damage | 0.053^{***} (0.018) | 0.083^{***} (0.026) |

Hurricane Irene | −0.084^{***} (0.021) | −0.017 (0.028) |

Hurricane Isaac | −0.057^{*} (0.034) | 0.198^{***} (0.041) |

Constant | 0.213 (0.203) | −1.346^{***} (0.204) |

N | 1,610 | 1,610 |

Log-likelihood | −630.60 | −869.73 |

Likelihood ratio χ^{2} (prob > χ^{2}) | 98.18^{***} [0.00] | 268.05^{***} [0.00] |

Pseudo R^{2} | 0.07 | 0.13 |

*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.