Flood Paper - Figure 10
Just want some clarity on the costs borne by the homeowner (bars shaded in green):
Are the premiums paid within the model the premiums homeowners pay for flood insurance only?
Are the premiums external to the model just the cost to self-insure for those who decided not to purchase insurance?
Comments
1) Yes that is my understanding
2) I think it would also include the cost of mitigation by the homeowner to flood proof their home, in addition to self-insurance costs