TABLE 4

Probit Regression Results

	All Flood Zones (805 Observations)
Variable	Coef.	S.E.	Marg.^{^a}
Future storms	0.005	0.005	0.001
Future damage	0.058^**	0.025	0.016
Risk aversion (gain)	0.000	0.036	0.000
Risk aversion (loss)	0.096^**	0.038	0.027
Disaster assistance	0.281^**	0.111	0.078
Insurer credibility	0.245^**	0.117	0.067
Number of flood events	0.410^**	0.172	0.114
Years on coast	—0.001	0.003	—0.000
Distance	—0.007^**	0.003	—0.002
Mortgage	0.143	0.121	0.039
SFHA	0.738^***	0.222	0.232
Mortgage×SFHA	1.490^***	0.346	0.465
Income	0.056^***	0.015	0.016
Other property	0.069	0.205	0.019
Florida	— 1.974^***	0.552	—0.504
CRS	—0.108^***	0.040	—0.030
Florida×CRS	0.181^**	0.077	0.050
Hispanic	0.316^*	0.176	0.092
Male	0.068	0.108	0.019
Kids	—0.190	0.127	—0.052
Mobile home	—0.587^*	0.323	—0.143
Constant	—0.913^**	0.448
Log-likelihood		—397.759
Likelihood ratio chi-square		253.220
Pseudo R-squared		0.242

Note: CRS, Community Ratings System; SFHA, Special Flood Hazard Area.
↵a Marginal effects for binary variables calculated as ΔF(z) = F(β ’x + αz I z = 1) — F(β ’x + αz I z = 0), where z is the dummy variable in question, and all other variables are held at the means. Marginal effects for continuous variables are computed at the means.
↵*, **, *** Significant at p =0.10, 0.05, and 0.01, respectively.