There is a huge problem with uninsurable property. California/Arizona/Oregon - wildfire risk. Texas/Florida/Louisiana - flooding.
Now, the fed gov't steps in and offers flood insurance. No ins. co. is going to insure a house built on river bottom land along the Brazos, Colorado, or Trinity Rivers. But the feds will. Result--> homeowners living in insurable places effectively subsidizing those who build houses where people shouldn't build houses.
Because of expectations (which motivated past decisions) all properties should only get one more flood insurance payout. After that, your gov't insurance ends for that property. You can live there if you want, but you'll be self-insured or paying enormous premiums to some specialty ins. co. or something. Take your $$$ and build your new home in a place where people should live.