Mortgage comapnies mandate insurance coverage. If you have a mortgage, you have to have property insurnce and a separate flood policy if you live in a FEMA designated flood zone. Also, the premiums are regional, not national. Your premium in Montana isn't goin up because of hurricanes in FL. I live in FL and our premiums are going up 50% per year!
Also, the premiums are regional, not national
maybe yes, maybe no. I am required to have terroism insurance on my rental property at a cost of $30-50 whether I want it or not. One insurance company listed at $50 cost and I told them I didn't want it, I would accept the risk. They removed it but charged me for the min mandated amount. State Farm has this but it is not itemized in the bill.