some people will buy insurance for everything. I suspect they wouldn't offer it if they didn't make money off of it..
kinda like road hazard protection for tires.. couple times I have bought tires saleman was flabbergasted that I wouldn't buy the road hazard protection.. but when I told him I had owned about 25 vehicles over the last 40 years I have been driving and have what amount to 2 tire failures that might have paid out over the 40 year period, he was unable to explain to me why it made financial sense to buy insurance against a tire failure.
How many tires do yall think I have purchased in my life.? I'm guessing between 100 and 200, so I have about a 1% chance I will need a tire that the insurance would cover... how much would I have spent over the years if I purchased tire insurance for every one of those two hundred tires I have purchased..yeah, sucker bet.
since I am in Fla, I think the requirement to make flood insurance mandatory is mostly some form of collusion between real estate agencies and the insurance industry so that people that have property in very flood prone areas are subsidized by people who have almost no risk of it..
For instance they changed the flood zone map where I live, to include the whole area whereas before we were a low risk zone .
Hurricane Irma dumped 12 inches of rain where I live, in about a one day period. yet I was high and dry.. I think I would probably need to see something in the magnitude of 50 inches of rain in one shot for the ptential of water to be on the floor level of my house.. so yeah, flood insurance only feeds itself if you force everyone to have it.