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To estimate the annual WTP for risk reduction of environmental problems such as outdoor and indoor air pollution, and drinking water contamination, a questionnaire survey was conducted by dichotomous contingent valuation method in Seoul. Several covariate models based on Turnbull, Weibull and Spike models were developed and applied to WTP estimation with uncertainty analysis. WTP estimates for risk reduction of air pollution were 13,000 won, 12,000 won, and 10,000 won per month in low-bounded Turnbull, Weibull and Spike models, respectively. The estimates for indoor air pollution were 17,000 won, 20,000 won and 21,000 won and these for drinking water contamination were 10,000 won, 13,000 won and 14,000 won in each model, respectively. Goodness of fit for Weibull model was better than those for other models. WTP estimates for indoor air pollution were higher than those for other pollution problems.