Yes, we will and have to sell our homes (if we can) because the insurance premiums have become unbearable. Mine went from $500 to over $1600 in ONE YEAR! and ALLSTATE (may they go bankrupt)cancelled our policy even tho we never made a claim, nor are we in a flood zone. We now have to go with el cheapo insurance Universal for $1600 and it may go up. Others have had premiums go from less than 1k to over 10k..........Many here are thinking of selling and moving across the border to Alabama, but nobody wants to buy! The only ones who can afford to live here now are millionaires, but they don't want to live in a 100k neighborhood.......or even a 500k one...
If your house would cost $100,000 to replace, and the current hurricane predictions suggest that your house is likely to be destroyed by hurricane in the next 50 years, they would have to charge you at least $2,000 a year to break even (in future value -- they can charge less because money in present value has a greater future value as they can invest the reserves).
It actually amazes me how cheap my insurance is given the claims that could happen. We had hail damage from a bad thunderstorm and it cost my insurance company over $20,000 to repair everything -- that's over 20 years of my premimium payments, and I've only had a house 20 years, so at the moment I don't think they are breaking even. My car insurance they are probably ahead on, although I got a $20,000 payment for an accident there as well, so they aren't exactly rolling in dough for my insurance (my wife's had a couple minor things to, so we've probably collected almost $25,000 from auto insurance in our lives).
I don't think it is unreasonable that a person owning a $100,000 house in a zone likely to be flooded or hit by a hurricane in the next 50 years to be paying $1600 a year for insurance to cover their loss.
Note that if you can find a lender willing to front you an UNSECURED LOAN, you can always go without homeowner's insurance and take your OWN chances that, in the next 50 years, the 1600 you save on insurance, properly invested, will cover the cost of replacing your house if you get hit.
That in fact is what the insurers do for you when they offer insurance with WAIVERS. They let you buy insurance for stuff you can't predict at all, like fire, while excluding expensive coverage for things like floods. You can seek that out separately, or self-insure if you think you know better than they do.
If you think the insurance company is making a killing on you for your $1600 a year payment, you should be able to find SOMEONE who agrees with you and is willing to secure your house so you can self-insure and pocket those obscene profits.