If an insurance company decides to insure a house, they should be on the hook for it for that until the home is sold again. No price changes, no dropping. If they really want out they can pay out the full value of the policy. They absolutely should not be able to just say “Nah we’re done now good luck.” When people make the decision to buy a house, they’re relying on that insurance staying as is.
Separately, it seems completely reasonable for insurance companies to say “we’re not making new policies in Florida.” Society does not owe you the right to live in a place so hostile we’re gonna have to keep rebuilding your house, and home insurance only works as a concept if you’re only having to fix a small portion of the houses you insure.
Most of Florida is no longer fit for human habitation, and that’s something we need to come to terms with. There should not be new home sales in most of Florida, there definitely shouldn’t be new construction. What’s needed is a slow, permanent evacuation.
I say all of this as a lifelong Floridian who moved out of the state literally 3 weeks ago. The last 2 summers were so much worse than anything I’d seen in my lifetime, and I’m terrified to see what this hurricane season is going to bring.
