I’d be interested to know if anyone living in these areas has had trouble with insurance rates over this period. I realize many people aren’t fans of insurance but some of these areas seem quantifiably troublesome to live in short term.
Here, it's tornadoes. But the thing about tornadoes is that they are incredibly localized. While the big mile-wide wedge tornadoes are can destroy a lot of property, most tornadoes are small - a few dozen to a maybe a hundred yards wide. And even the big ones affect, relatively speaking, a small area.
A tornado could destroy your neighbor's house and leave yours almost totally undamaged. The real danger is when you have an outbreak of a bunch of tornadoes hitting the same area. Even then, though, any individual person's chance of being impacted are pretty low.
That said, I haven't had any problems getting insurance. Although, after the 2011 Super Outbreak [0] my insurance went up about 20%. Which sounds like a lot but was about $200 a year increase or $17 a month. Hardly breaking the bank for me, but I can understand how it might for some.
There's no incentive to move when FEMA can provide tax-subsidized "insurance".
https://www.politico.com/story/2018/03/29/as-congress-stalls...
But beyond forgiving the debt, Congress has been unwilling to enact additional changes.
http://cullmantoday.com/2018/04/28/president-trump-approves-...
https://www.whitehouse.gov/briefings-statements/president-do...
Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster.
Would be nice to see some info on that overhaul.
Yup. National flood insurance causes malinvestment.
My father and brother's houses 6+ miles apart. Were destroyed by the same tornado in 2010. Neither had any insurance issues at all (fortunately, didn't happen for everyone).
Tornadoes while scary don't typically cause enormous areas of disaster on the scale of a major earthquake or hurricane. Flooding causes more issues as well.