> I can't help but feel I'm offsetting the people "down south" with their more expensive property that is literally underwater.

I am not sure about Louisiana, but you very well may be.

State insurance commissions sometimes promulgate onerous regulations that effectively require cost shifting. For example, if it's profitable to keep operating in a state overall, but you can't raise premiums or drop policies for the riskiest properties, then you just raise premiums across the board and let the less-risky subsidize the unprofitable policies.

And rising reinsurance premiums mean that everybody pays more to account for increasing risks and costs in the insurers' portfolios, which may be concentrated in riskier areas far from your own property.