State Farm dropped my dear friend after 30 years, and no claims - her area was re-zoned as a “fire hazard” even though there’s never been a fire anywhere near her. She had to scramble to find insurance - called all over the country.
My insurance skyrocketed this year (not State Farm).
I suspect a lot of people are going to go without (paid off house, fixed income, retirees, etc.).
The combination of rising rates and rising replacement value is a double whammy. We have seem 300% increases in net premium costs on multifamily residential in Ohio. Partly rate increase and a big part replacement cost. For example, a 49 unit building a friend owns is about 50,000 square feet plus a garage. His carrier used $220 per sq.ft. to create the value for minimum required 80% coverage resulting in insuring more than 12,000,000 on a building with less than $6,000,000 on the market.