$500 a month even in a good mutual fund over 15 years won’t replace a house and all its contents.
Don’t forget not paying insurance premiums.
In most cases unusual and unlucky hit from a hurricane won’t destroy entire well built house. Make sure you are not in a flood zone. Flood will damage more than wind.
Helene skirted my area and took out a dozen shingles from roof. I put a temporary patch on it to prevent water damage. Hired a roofer to replace shingles for $1050. I save more than that amount every year for not carrying home insurance.