Should We Disincentivize People Who Want To Live On The Coast In Hurricane Zones?
Heard an interesting segment on TV today. The expert was saying that there are so many people whose homes were ruined or destroyed by Hurricane Ian who dont have flood insurance. The insurance companies charge an exorbitant price for flood insurance in these places, if it is offered at all.
Yet instead of moving away, people just decide to continue living on the barrier island, or whatever, without insurance. When the home is destroyed in a storm these people are left without a home and sometimes without the financial means to get a new one.
The kicker to this is that climate change is going to ensure more and more huge storms as the coming decades go by. Since people won't leave these hurricane magnets on their own, maybe, said the expert, we need stronger measures in order to move people away from these vulnerable coastlines.
At what point is federal or state financial assistance to people who had no insurance and their beachfront homes were destroyed a bad idea?