Actual quote:

If you live in an area where there’s tornadoes — I live in an area where there are hurricanes, but I don’t think people outside of the hurricane area should pay for me living on the beach.
…
The whole thing is, the reason people live there — say, on the coast especially — is there’s the moral hazard that government will take care of us. You know, that — well, I — and, you know, they’ll say, well, you have government insurance. Well, why don’t you buy a private insurance? Oh, because it’s too expensive, which means it’s too dangerous. So we go and say, well, it’s not dangerous. The government, which is stealing from somebody who doesn’t live there, doesn’t have the benefits of living on the coast, and they go and build where they shouldn’t.
…
And people live in Tornado Alley. You say, I’m vulnerable to a tornado. What I should do, have a safe house, and I’d better get insurance.

At least he’s consistent, no matter how unpopular it is. Unlike most politicians that will say whatever is necessary to get votes, and then do the opposite once in office.