One of the reasons I've never purchase the insurance again was the high cost to carry it and the high deductible if something were to happen.
California Earthquake Authority has just cut the price of the insurance. They are offering several options customized to your financial comfort zones. Your normal homeowners policy does not cover quake damage, and boy, are we overdue for one, right?
So, take a gander at their website again, California Earthquake Authority.
Talk to your insurance broker as well of course.
But, this may be something to look into!