While the view may be beautiful most of the year, the price of living on the water would be too steep for me. Then again, if you can afford the price of the property, you can afford what is undoubtedly sky high insurance premiums and probably proportionally higher deductibles.
I have lost a house before - well, my parents did when I was 8, not in a hurricane but in a earth movement (not earthquake) incident in California. Watching our house demolished was traumatic for all involved, and we were able to get all of our belongings out before hand. I just can't imagine losing everything, not just the house. The pictures are dramatic and awe inspiring, but it is sad that some of those properties are likely a total loss.