Unfortunately, it isn't. And either a Cascadia Megathrust (which may or may not be "due" which is an overused term anyway) or an earthquake of similar size on a much shallower local fault would easily do upwards of 100 times more damage than Nisqually.
...well...DANG! I wonder what deductable applies if you're swallowed up in the Earth!!
But I can still get auto insurance...and the chances....