Part of the problem here is exacerbated by all the flood insurance that effectively subsidizes building in flood plains. In addition to long term measures to mitigate climate change, we should have a tax on areas that are threatened by flooding and water levels rising so that we can reduce the immediate issues by incentivizing people to move away from them.
Should we also tax people living in earthquake-prone and tornado-prone areas? How about blizzard-prone areas? Keep going with this and we will run out of places (in the USA) where it’s ok to live. Also, as someone who lived in south Florida, flood insurance is a joke and unavailable near the coast anyway. Nobody expects it to pay out enough in a major catastrophe, including hurricanes and flooding.
Neither of those risks are comparable to earthquakes and hurricanes/flooding, which can be relied upon to thoroughly destroy huge swaths of cities, regularly.