Well it makes no sense for a company to try to insure properties that are fully expected to be damaged regularly (e.g. due to seasonal flooding, fires etc). Tha

Well it makes no sense for a company to try to insure properties that are fully expected to be damaged regularly (e.g. due to seasonal flooding, fires etc). That would make the premiums equivalent to the rebuilding costs if the company is to operate long term and customers won't pay for those kinds of premiums. It's not a viable business and so why would an insurance company spend effort to try to offer that product?