Household Refundable Utility by taking out refundable insurance: Empirical study in the Spanish auto insurance market

M. Mercè Claramunt, Teresa Costa, Maite Mármol and Xavier Varea

Economics Letters, 2024, vol. 241, issue C

Abstract: This study investigates the expected benefits for Spanish households if they choose to purchase a refundable insurance policy that covers the deductible in the event of vehicle accidents. Using data obtained from the Spanish Survey of Household Finances alongside market data, this paper provides valuable empirical insights concerning the impact of refundable insurance policies on the overall expected utility of households (referred to as Household Refundable Utility) both from a technical-actuarial and a microeconomic point of view.

Keywords: Auto insurance; Refundable insurance; Expected utility; Risk-aversion (search for similar items in EconPapers)
JEL-codes: C15 D80 G22 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:241:y:2024:i:c:s0165176524003033

DOI: 10.1016/j.econlet.2024.111819

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