At first glance travel insurance seems like a something not very important at least for a big number of travelers. Some people even will say that it is a waste of money. I can understand -in some ways- this kind of position even more when most of the times travel insurance is something for which one pays without receiving anything, or at least it is what it seems to be.
The apparent contradiction is that this is a product for which one pays expecting not to have to use it. What does that mean? Well no one really wants to get sick or being robbed when traveling. At the same time if a problem occurs one will really wish to have such a kind of support. Hundreds of millions of travelers go around the world every year without experiencing any kind of problem, but there is an unfortunate group that faces situations beyond the realm of normal control. One can being robbed or get sick even at home, so the probability of experiencing a problem during traveling should not be an excuse for being discouraged to go and see the wonders of the world.
Like in many other situations prevention is vital. One has to be prudent about which places to visit, or what one is carrying abroad or even what is one eating. Travel insurance should fall into the same category of prevention. It is always a good idea to have some kind of support in case things do not go as planned.
I know of several people who have gone into bankruptcy because medical bills, or other huge expenses they faced during a problematic trip. Most people will not experience such an extreme situation, but getting sick abroad is already something bad that becomes even worse if one does not have major material resources. The same goes with being robbed or having flights cancelled for any of the many possible circumstances that provokes such problems.
The important fact here is not about having travel insurance or not. It should be present in some way. All travelers should have some kind of insurance or financial support in case of emergencies when traveling. If a traveler can not afford it, well that is a reason not to go abroad. The real question here is what kind of coverage one should get. That is really a huge topic. There are many different providers. Like any other thing in the market there are some that are better than others.
The best call is to get an insurance from a reputable provider. It is important to read reviews, and to be sure that people are happy with the service they have experienced. The same company can offer different plans, and prices can vary considerably from provider to provider. The ideal plan is one that covers medical bills (I always advise that this coverage should be at least for $25,000 USD), There should be as well coverage for accidents, delays and cancellations, problems with luggage and legal assistance. According with the price paid there will be deductibles and other restrictions.
It is important to understand what is covered and what is not, and to be actually sure that one is covered by the particular travel Insurance that one is buying. If one travels frequently it is possible to inquire about yearly or monthly policies.
Just do not go away without travel insurance. This is one of the few things one pays hoping never having to use it, but as I just said in case there is a need one really will want to have it.