The problem with homeowner's insurance in Florida is not greedy insurance companies. It is the lack of greedy insurance companies. The U.S. has over 3,000 property and casualty insurance companies. Most of these greed mongers choose not to operate in Florida. Hurricanes alone do not account for this phenomenon. Every state along the Gulf Coast and Eastern Seaboard contends with this threat to one degree or another. Only Florida has a completely dysfunctional insurance market. What makes this state so unique?