Travel insurance: To buy or not to buy?

My wife and me have been debating recently about whether or not to buy travel insurance. My view is that why bother paying for something that may not happen, or probability of happening is small? Well, then again, I suppose we really have to look at the details. It depends on what sort of activity you will be doing while you are overseas, whether you can afford to lose your luggage, if the country you are going to is safe, whether medical there is expensive and chances of you contracting some disease.

What can possibly happen? If you think about it, lots:

Flight cancellations and delays
Natural disasters (eg.earthquakes in Indonesia)
HINI or similar
Diahrrohea after drinking the local water or street food
injury (eg finger gets caught in taxi door)
damage to luggage or missing luggage
fall sick due to weather
freak accidents like something drop on you while on the streets (eg HongKong)

I will seriously consider buying travel insurance next time haha, if the premiums dont amount to much.


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