Earthquake coverage in south SF Bay Area?
I've seen some nice posts and discussions on earthquake insurance but still haven't seen the answer come clear for my property. I'm hoping for some feedback.
My property is a SFR in Gilroy, CA. Note, this is not "on" an active fault line but not far from several VERY active seismic areas (Hollister 20 miles to southeast and Luoma Prieto near Santa Cruz roughly 40 miles to northwest). The house is technically a "Jack and Jill" or "attached single family". It shares one common wall with a single adjacent unit. Separate ownership, title, everything. No HOA, just CC&Rs for common areas.
Property is worth roughly $600k. Structure valued at roughly $300k. Debt is roughly $390k. Rent income is currently $3k monthly. (I know, not a big cash flow property).
So my insurance agent has quoted $450 annual for earthquake insurance.
Given this, does earthquake insurance make sense? Are there things I should research regarding fault zones? Obviously it's somewhat subjective based on my risk tolerance but there must be some logic to this that is objective.