Florida

Those are AU dollars. Around US $800.

Not on a flood plain, not in a bushfire prone area, no history of volcanoes or earthquakes, so low risk for an insurance company.

People in fire/flood prone areas pay a lot more, or find that they can't get insurance anymore.

But when you have a whole state that looks like it will be sinking due to rising sea levels over the next few decades, and coastal high rises falling apart from the bottom up due to rising salty ground water, no insurance company wants to take on that risk.