STUDY ON FACTOR INTENTION TO PURCHASE FLOOD INSURANCE AMONG HOMEOWNER IN KLANG VALLEY, MALAYSIA
Publication Date : 30/05/2021
A high impact of flood has become an annual experience in Malaysia. However, flood insurance is still a neglected part of integrated flood risk management. In Malaysia, including Sabah and Sarawak, 189 river basins flow directly into the South China Sea, 85 of which are prone to repeated flooding (89 in the Malaysian peninsula and 78 in Sabah, and 22 basins are in Sarawak. It is estimated that the flood-prone area is about 29,800 square kilometres, accounting for 9 percent of Malaysia's total area, affecting nearly 4.82 million people, accounting for about 22,000 square kilometres of the country's total population according to statistic. In this research study is to find out and identify the factor intention to purchase flood insurance among homeowner in Klang Valley, Malaysia. In Malaysia, there are less than 30 percent have flood insurance and uncertain risk perception that may reduce their losses when flood occur according to a research of Global Academic Excellence. The results of this study provide an important input to build and increase the risk perception an affordable flood insurance. In order to trigger homeowners, purchase intention for future financial protection, especially a safety net for the countries low-income and most vulnerable flood victims.
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