I can't speak for FL, but in CA the insurance companies aren't able to justify the risk of writing policies for the premium they're allowed to collect. They're squeezed on the revenue side by the CA insurance commissioner who is not allowing them to raise premiums enough. They're squeezed on the expense side by the rapid rise in the cost of housing related products & services and the location of new housing construction that tends to be in more risky fire prone areas.Regarding climate change.
There must be a good reason why home insurance companies have decided to leave FL & CA. Insuring these homes use to be profitable, but now it's not...I wonder what changed?
Re-insurance is also drying up as those institutions and investors are demanding a higher premium, which further pressures the retail insurance companies' cost structure and risk mitigation efforts.
It's not just real estate policies, it's auto policies as well for the same reasons outlined above.