I haven’t had earthquake insurance for the last 15 years but I am considering it.

When we lived in Ca we had window film on all windows for sun and earthquake protection.

I added a gas fireplace insert in an existing wood burning fireplace when the original chimney was damaged in an earthquake.

I lived in SF for a while and was there for the 7.1 earthquake.

1- Not all insurance carriers will cover bldgs with brick foundations. 2- If it needs to be replaced, it’s a major PITA and costs ALOT of $$$. 3- It could get severely damaged in an earthquake. 4- Not all buyers will buy bldgs with brick, so limits your market.Bottom line: I avoid them for long term holds, especially due to earthquake risk. 

Fires, floods, the next BIG earthquake...Your thoughts.

Owning assets within hurricane zones and earthquake zones are a perfect example.

Then this winter we experience a large earthquake that significantly damaged our 1/3 of association with no earthquakes insurance.

A lot of positive benefit to buy a contiguous lot as described before.The negative I would see is the concentration risk: if the neighborhood goes bad or if local catastrophe (flooding, earthquakes, tornadoes, fire...) happens you loose two properties instead of one.I had the same situation a few years ago and in my case I bought the property as I self manage the properties and the convenience factor was a definite plus.

Right now they are having earthquakes, so good luck with insurance at the moment.lastly, if you are going to finance on the island, then you will need to use a bank that is located on the island.