That's a very regressive tax. Despite what was asserted earlier in the thread, the people who are victims of crime are usually lower class, not those living in mansions. Lower class people will get hit with a double whammy of being robbed and having higher insurance premiums as a result. Their neighbor's premiums will go up, as well.

I would speculate this would lead to a feedback loop of neighborhoods pushed into poverty or out of their homes by higher premiums, creating incentives for crime, leading to even higher premiums.

Oh, I know, that's the destabilization I mentioned in the first case.

I don't think you do this in isolation. Ideally you rationalize the property tax while compensating for its progressive/welfare effects with other policies at the same time; certainly you don't just naively lower property taxes and hope for the best. (MAGA would never.)