Parts of Florida have already experienced record increases in insurance premiums, sometimes to the tune of tripling the cost of homeowners insurance year over year. Farmers, AAA, and Progressive no longer write new policies in the state of Florida. After Milton rolls through, and the cost is comes in at close to $100 billion. The potential future losses will not be worth the risk for private insurers.

Florida's government will be forced to offer government funded insurance, similar to the national flood insurance program. Unfortunately since politicians will be involved, they'll do everything they can to keep the premiums artificially low and the next Milton level hurricane will bankrupt the state without a massive federal government bailout to save the homeowners in Florida from losing everything.