Many coastal FL properties have had their insurance jump ten-fold or more this year so this is negligible. Practically speaking the coastal mortgage holders are being forced out of their properties so developers can scoop up their property and build more resorts for the oligarchy.
It’s either buy with cash or a mortgage 10+ miles from the coast.
Pensacola Beach, FL
Sullivans Island, South Carolina
Moved to a relatively safe coastal area of Florida (1 hurricane/45 yr. avg.) from DC area and was shocked at insurance cost. Florida house is valued at 50% of NOVA house yet insurance costs three times as much. I’m considering being self insured as several friends facing $11,000 plus premiums have done. Insurance companies play a costly game down here, frequently requiring house upgrades, dropping out of the market, or high deductibles that almost assure only a direct hit would require a payout.