Homeowners Insurance with Bundled Catastrophe Coverage

  title={Homeowners Insurance with Bundled Catastrophe Coverage},
  author={Martin F. Grace and Robert W. Klein and Paul R. Kleindorfer},
We estimate the demand for homeowners insurance in Florida and New York with indicated loss costs as our proxy for the quantity of real insurance services demanded. We decompose the demand into the demand for coverage of catastrophe perils and the demand for noncatastrophe coverage and estimate these demand functions separately. Our results are relatively consistent in New York and Florida, including evidence that catastrophe demand is more price elastic than noncatastrophe demand. We also find… CONTINUE READING
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