I ran across this article this AM about a family whose house was destroyed in an earthquake. With no quake coverage they still are homeless with a mortgage to pay. Something like 90% of California homeowners do not having quake insurance. Here in Florida there are many hurricanes. FEMA will come in and help get roads open and power and water restored. If a storm surge wipes you out, unless you have flood insurance you are on your own. talking with neighbors, even though we are far inland, most don't have flood insurance. Yet the rain can really come down and palm fronds and debris can clog storm sewers.
Average personal disaster assistance (article from 2016) outlines what people received from fema after prior big disasters, with the average being just a few thousand dollars.
Have you thought about the disasters that can befall your area?.