We have always insured because my mother in law is 94 years old and we are always concerned that we would have to cancel should she have an issue. However I have made 3 claims over the years and only one was related to her.

Our first claim was after 9/11 and we were stuck in Vancouver for 3 days. The last claim was last year after I got sick in India and had to cancel our cruise and come home. I will add that each claim we have made was paid promptly and without too much hassle after the initial paper work. I would be uncomfortable traveling wo it.
I think it is very much dependent on your personal circumstances and your comfort level.
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Helen