As far as heavy damage, in the case of the strike-slip faults, it is being very close that is the problem, unless there is some bad soil or basin condition like Oakland, or Los Angeles...So, if you are 3 km from Elsinore and relatively far from San Jacinto and San Andreas, I would worry about Elsinore. And, yes, if it was $100/something yr for pretty good coverage it seems a no-brainer to get it. I'd consider it even if $1000. The Elsinore, last time I heard, had several mmy/yr right lateral...let's see...if 5 mm/yr and 1 m slip it would take 200 years to store this (of course, for a particular place it might be 4 m slip and 800 years, or I may have the slip rate too high by factor of 2....I think you know the fault history there much better than I do...
Chris