It basically encourages people to move to bad areas that are prone to storms, hurricanes, wildfires, drought because those states don't want to lose population. They want people to keep coming.

"And so Florida devised a state-run insurance plan that would make insurance available to any homeowner who wanted to buy it through the state. And eventually they promised to discount that plan so that it would actually be cheaper than what the free market insurance was providing. Systems for insurance like that have now been replicated in about 30 states across the country. They're called FAIR plans - for fair access to insurance - and it has essentially made it less expensive for Americans to move into places that are threatened by hurricanes, threatened by wind damage, threatened by flooding. In some cases, though, you mentioned, flooding is now covered by the federal government, another form of that subsidy."

https://www.npr.org/2024/03/26/1239904742/how-climate-driven-migration-could-change-the-face-of-the-u-s

Another thought about climate migration: Some people do not want people coming here from other climate-ravaged countries. Yet, what will happen when people from AZ, CA, the Gulf Coast, FL want to move back up north after their water is gone, or they've overbuilt and can no longer support the infrastructure? Should states that have handled their resources well "build a wall"?

DeSantis said they're insolvent. Basically they're relying on the feds for a bailout if and when.

Sen. Whitehouse is questioning them.

While not as quick to raise rates as private insurance, it still has to cover claims that are ever increasing in cost. And unless the state subsidizes the costs, rate increases still happen at about the market rate as replacing a roof costs the same whether you are the state insurance or private. Not many states in a financial position to do that although to your point, if they start losing too many taxpayers, that doesn't pencil either.

600 hundred feet off the beach for $40 grand. I'll rent my home in town and live wary of hurricanes. If I get hit, we'll see if it is salvageable. If not, back to town.

enough people out to be an even bigger disaster. County on them to have their hands out, especially wealthy people.

I lived in Seattle for many years. The info about the big subduction zone earthquake probability hadn't come out yet but we decided to get an earthquake rider for our homeowners insurance. 30 years ago it added $500 to our annual cost and was subject to just the basic deductible of a few thousand $$$. A few years later they added that earthquake had $20,000 deductible but still stayed affordable. When the news about the subduction zone risk came out, coverage for earthquake went thru the roof, deductible increased again and we were told if we didn't already have the coverage they wouldn't sell it to us.

What will happen is that more insurance companies will pull out as climate change escalates. Eventually a tipping point will be reached and a real estate crisis larger than any we've ever seen will occur. When the realization that large parts of the planet will be unliveable, not just in the far future but in a matter of decades, finally clicks in the minds of the general population, there will be a population exodus from these areas, and trillions of dollars in land, houses, and commercial property will be essentially worthless. The smart ones will sell early, and the dumb ones will be left broke, holding mortgages worth pennies on the dollar. Seaside neighborhoods once worth millions will become slums, and inland areas will gentrify.

And there won't be a government program large enough to stop it. Even a half-hearted attempt would bankrupt most nations, because the scale of the climate change disaster is unprecedented in human history. We've pushed the planet's climate too far, and it's too late to prevent catastrophe.

Selfishly, I am very worried about the exact scenarios in your post. I live in Northern NY. Very few wildfires, hurricanes, tornadoes, earthquakes....
I have an artesian well with a constant run off. I live out in the country and we are not overcrowded. There is definitely going to be reverse migration.

I watch the insurers as the canaries in this particular coal mine. And as you note, few if any governments can fund a real fix, maybe put up a dike for a bit, but I too believe those will be band aids at best.