I believe that the insurance problem has been exacerbated by developers building in areas that should not be developed.
When we moved here almost 25 years ago, I went to the historical societies in Duval, Clay, and St John's counties to see photos from hurricane Dora (the last hurricane to make landfall in this area, back in 1964)
I then made sure that we DID NOT buy a home in the areas that flooded. Believe it or not, those areas now have major population concentrations, malls,etc. Excuse me, but why would someone buy a million dollar house in MARSH landing??? Adjacent to the intracoastal...between the ocean and the river...in a SWAMP???
I'm just amazed at the building going on in the FLOOD PLAIN, which is basically most of St John's County, one of the fastest growing areas in the country. Not county...country!
So ALL of the residents of Florida are subsidizing homes in areas where NO homes should be built. Of course, most of Florida is not really suitable for homes. I'm not even sure that my 1913 home should really be here.
My insurance company has not increased rates significantly...yet.