I'll limit the scope of my reply to hurricane zones as wildfires and flooding are a bit different.
People in hurricane zones are used to evacuating and have plenty of advanced notice. For the vast majority of the time they're able to enjoy a healthy beach lifestyle - relaxing, great climate, fun hobbies. It's extremely rewarding to live near the beach. I'm sure there are studies that show positive impact to health and healthspan outcomes as well.
The problem is that America was for several generations living in a privileged bubble. The post-WWII period was very good for us. We could afford to build, rebuild, and rebuild again. Labor costs and material costs were low, and there wasn't overwhelming demand. This advantage lasted for a whopping 50 years as we transitioned from strength to strength, shifting from a manufacturing economy to a robust consumption and services economy.
Until recently, it didn't cost a million dollars to put a home near the beach. What's changed is the economic position of the country and the financial capability of the average American. We can't build houses for $60,000 anymore.
This is less a signal of "insurance getting smarter" and more of a signal the outsized advantages of America are coming (have already come) to an end.
People in hurricane zones are used to evacuating and have plenty of advanced notice. For the vast majority of the time they're able to enjoy a healthy beach lifestyle - relaxing, great climate, fun hobbies. It's extremely rewarding to live near the beach. I'm sure there are studies that show positive impact to health and healthspan outcomes as well.
The problem is that America was for several generations living in a privileged bubble. The post-WWII period was very good for us. We could afford to build, rebuild, and rebuild again. Labor costs and material costs were low, and there wasn't overwhelming demand. This advantage lasted for a whopping 50 years as we transitioned from strength to strength, shifting from a manufacturing economy to a robust consumption and services economy.
Until recently, it didn't cost a million dollars to put a home near the beach. What's changed is the economic position of the country and the financial capability of the average American. We can't build houses for $60,000 anymore.
This is less a signal of "insurance getting smarter" and more of a signal the outsized advantages of America are coming (have already come) to an end.