Flood risk perceptions and the willingness to pay for flood insurance in the Veneto region of Italy

Giulia Roder, Paul Hudson, Paolo Tarolli

Research output: Contribution to journalArticlepeer-review


The floodplain of the Veneto region (north-east Italy) is one of the most inhabited and economically competitive urban landscapes in Europe. Moreover, recent flood events have caused millions of Euros in damage across the region. Due to the combined influence of climate change and socio-economic development, flood impacts are expected to grow. Therefore, it is important for all flood-prone individuals to actively manage and limit flood risk through property-level flood risk management as part of an integrated flood risk management strategy. This is in line with the calls for wider community engagement in risk management in the Sendai Framework for Disaster Risk Reduction and the Sustainable Development Goals. Therefore, an online-survey of Veneto region residents was conducted asking questions regarding flood risk perceptions, preparedness, and preferences towards flood insurance via self-stated willingness to pay (WTP). Our analysis provides an initial indication that while flood risk knowledge is high, it may not be sufficient to encourage proactive risk management. From the WTP values provided people seem reluctant to buy insurance. However, many respondents expressed that a compulsory insurance system may be acceptable. In such a scheme the estimated insurance premium could fall to between €26 and €42 per year, as compared to, potentially, €800 under risk-based premiums, which falls within the majority of WTP estimates provided (€0-€250). Overall, we identify areas of future research that are critical for the better design of risk management policies, supporting the insurance companies in risk management, and for recommendations regarding property-level risk management.

Original languageEnglish
Pages (from-to)101172
Number of pages1
JournalInternational Journal of Disaster Risk Reduction
Publication statusPublished - 29 Apr 2019

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