I'm in CA, and even though I'm not on top of an active fault, I'm close enough to be impacted. When the big one gets here, if it's big enough to affect me, then everyone else will be affected. I don't have any reason to expect them to stay solvent if a third of the CA population files for benefits.
I've thought about taking the money I pay for earthquake insurance premiums, and instead putting it on polymarket, betting that an earthquake will happen. If it doesn't, then I'm no worse off than I was paying for insurance. If it does, then polymarket just distributes my "winnings".
Convince me to keep my insurance.
I wondered whether this is a signal that the insurers don't want to insure for those risks and unsurprisingly there is a Wikipedia page for it! [1]
[1] https://en.wikipedia.org/wiki/Climate_change_and_insurance_i...
It's all compromises.