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Spanish households: Car insurance with deductibles

Principal Investigator(s): View help for Principal Investigator(s) Maite Mármol, University of Barcelona

Name	File Type	Size	Last Modified
database Household Refundable Insurance.xlsx	application/vnd.openxmlformats-officedocument.spreadsheetml.sheet	36.3 KB	03/13/2024 01:13:AM

Project Citation:

Mármol, Maite. Spanish households: Car insurance with deductibles. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2024-03-13. https://doi.org/10.3886/E198961V1

Project Description

Summary: This databases is used to investigate the expected utility of Spanish households if they take out a refundable insurance that covers the deductible that must be assumed if a car accident occurs. Using data from the Spanish Survey of Household Finances and market data, this database provides novel empirical evidence on the relationship between wealth and level of risk aversion, as well as the effect of taking out a refundable insurance on the expected utility of households (Household Refundable Utility)

Scope of Project

Subject Terms: auto insurance; spanish households; deductible

Geographic Coverage: Spain

Time Period(s): 1/1/2019 – 12/31/2019

Collection Date(s): 1/1/2019 – 12/31/2019

Universe: Spanish households with auto insurance including deductible

Data Type(s): administrative records data

Collection Notes: After analyzing the five imputed datasets there are no remarkable differences between them and it is decided to use the first imputed dataset (EFF-derived DATOSIMP1 and databol1 files).
Together there are 6,313 surveys representing 18,821,645 households according to the weights of the facine3 variable in the databol1 file.
First, we select how many families have any vehicle, and we obtain that of the 6,313 surveys, a total of 5,074 surveys correspond to households that have any vehicle (in the population as a whole, they represent 14,042,117 households). Secondly, those households with negative or null wealth are discarded, since in order to apply the formulations it is necessary for this variable to have a positive value. Overall,
413 surveys representing 1,398,145 households are discarded for the entire survey. Finally, we calculate how many households have any vehicle and have positive wealth, obtaining a total of 4,774 surveys, representing 13,203,356 households.
Next we generate a vector containing the total number of vehicles in the total population, for this we multiply the number of vehicles that each household in the survey has by the number of households that each one represents in the total population (weight).
We obtain a total of 20,571,785 vehicles, of which we must randomly choose 28.41%, i.e. 5,844,444 vehicles, which are those that will be franchised.
In total we selected 5,851,932 vehicles, corresponding to vehicles from 984 different surveys (households). As in some households we have selected more than one vehicle we check how many surveys we have ended up selecting, which are 873 surveys.

Methodology

Sampling:

The constructed database contains 856 households and each of them represents a number of households in Spain according to the weights. Specifically 4,712,025 households.

Data Source: Spanish Spanish Survey of Household Finances 2020

Weights: The weights are included in the database.

Unit(s) of Observation: Spanish households

Geographic Unit: Spain

Related Publications

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Published Versions

V2 [2024-03-18]

V1 [2024-03-13]

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