Oh my God, you probably don't want to get me started on that. Here it is literally (in the original meaning of the word) a scam. Companies incorporate, take in premiums, pay themselves big bonuses, then say they are not financially flush enough to cover claims, go bankrupt and THE SAME PEOPLE come back and do it again. It is a racket designed to extract money, they don't even reliably pay claims, thankfully I don't have personal experience with having to use them, but have read enough industry news.

I have paid enough in home insurance to buy a house. We pay for the last 40 years a rate that would imply each house in Florida is completely wiped out every 40 years but my old house is 100 this year, our current house is 85. What the state charges probably is close to the actual risk, and if we just put EVERYONE onto that plan and ran it as a nonprofit it would work better.