The genetic basis of Type 1 diabetes is very complex. It depends not only on the genotype of your insulin genes, but also on the genotype of your immune system genes and on unknown “environmental factors” like certain viral diseases. In other words, there is no simple equation to determine the risk of your offspring developing Type 1 diabetes.
If you and your spouse are very concerned about this possibility, you would be well advised to meet with a genetic counselor. They can test your DNA for some of the known high-risk genes and calculate statistical probabilities for you, personally.
I think that a better question for you to ask yourselves is: “Given that I have Type 1 diabetes, do I wish that I had never been born?” Or: “Since I clearly have the Type 1 genes, do I wish that my parents had aborted me?” I know this is harsh but then apply that answer to your family planning decisions.