Based on information in the 1995 Statistical Abstract of the United States, in 1993 about one out of every 200 single family housing units had a loss due to fire, and about one in ten vehicles was involved in an accident. You may choose to buy more insurance coverage than the minimum that is required. You also may have life insurance to protect others in your family from an untimely death. None of these insurance decisions are made because you expect to make money on insurance. Rather you recognize that there is a hazard, and want to protect yourself and your family from the consequences of that type of catastrophe.
Earthquakes are a different type of disaster from fire, auto, or life coverage.
They differ because in an earthquake everyone in the region has the loss at the same time. This introduces logistical difficulties for insurance companies, who may need to go for many years in a row with no claims at all, and then cover enormous claims all at once. With fire, auto, and life insurance claims, the losses are smaller and more frequent, and the statistics are thoroughly understood. Some people believe that after earthquakes the government will step in with aid so that they will not lose out financially. That is not generally true.