Insurance really isn't the magic fix people make it out to be. Not everything is insurable, having to deal with raising rates because of shit like this means having to spend more just to keep what you already have, and that's not including the fact that you need to spend time in order to get the insurance payout and then replace everything that got burned down.

And that's assuming it's practical to replace everything that got torched.

The people who built it, yes. The people who paid to currently own it? No.

That's a portion of their life being smashed.

Considering each of those inanimate objects were made and bought with the proceeds of people spending their time, it's all shit that can be weighed on the same scale.