Floridians who want me to shoulder the bill for insuring their beachfront property against hurricane damage can go to hell. Pay for the insurance yourself or move to a place where disasters aren’t common.
It's becoming more difficult to find a place to live that does not have some potential issue, be it water, weather, heat, cold, earthquakes.... supervolcanos :)
Depending on climate there’s some other options too.
... in a non-hurricane zone, right?
Sounds like some of these coastal areas are on a ~5 year roof replacement cycle. Up here in DC, shingles last for 30+.
And then wouldn't it be in the interest of the insurers to maintain a shared list of "bad" (unprofitable) customers and freeze them out? Which is already a bit of what credit scores are for?
"Your previous insurer dropped you, there must have been a reason."
And, yeah, when applying for a policy, the questionnaire should include "have you filed a claim for X, Y, Z in the last 2 years?" Auto insurance does this already.
Insurance companies have a privileged legal position to do all sorts of stuff.
Where do you live that’s so safe and disasters are uncommon and aren’t on the increase?
Everywhere will have different risk factors, the American attitude seems to be ‘I won’t pay for anyone else, even if it means I ultimately will have to pay more’.
Where I live, hardly any disasters - tornado about every 100 years, last time there was huge wildfires was just after WWII, zero risk of flooding - biggest 'risk' I have is being snowed in for a few days as I dig out - there are plenty of places that have a much lower risk profile - and people like me, that pick where we live based in part on the risk, shouldn't have to pay extra insurance to cover people who willing choose to live in low-lying, flood prone areas.
If you build your house in an area like that and fail to build any sort of protection for expected conditions, why in the world should your losses be subsidized by everyone else?
When the cost of insurance for your beach house is too high, that is a signal that you are at extreme risk, not a signal that you should pass a law to make the rest of the country pay for the portion of the risk that you can’t afford.