an unlikely but potentially catastrophic loss -- just like my life insurance and my homeowner's policy (which is basically just fire insurance, if you think about it).

I highly doubt I will ever use it, but I decided I would feel pretty stupid if I lost my home in an earthquake and didn't have insurance.

I grew up in Cali and have been through at least a dozen earthquakes and our home was never damaged - BUT I was never near the epicenter and I don't have much confidence that Utah builders would build things to the same "code" as in California.