I don't think everyone purchases EQ insurance because of the severe limitations. I also think that the premiums are set by where you live and Parkfield would be a higher than usual risk area, so I would imagine the premiums are possibly higher than most other places in california.

I have standard house insurance, but I try to contribute as much as I can (I max it out every year for the last 10 yrs) to my 457 (deferred comp) as a method of forced savings. If there is a mojor quake, then I take the penalty for early withdrawl, but my house is rebuilt. Otherwise I can use the funds to live on for retirement.

Somehow, I thot I might get put up at a hotel (assuming they are still standing and pass muster with the local structural engineer/inspectors) until the damage was fixed or the house rebuilt with EQ insurance, but reading the premiums was pretty depressing, considering the limited coverage.

If you or anyone know of better coverage than the California Earthquake Authority, please let me know!