When Do You Really Need Insurance?

Travel insurance is one that I underestimated for years—until I really needed it. I was on a trip abroad and ended up needing emergency surgery for appendicitis. It happened in a small town where I didn’t speak the language well, and the hospital asked for upfront payment before treating me. It was terrifying because the cost was insane for someone just traveling with a backpack and a debit card. My insurance policy covered the medical bills and even helped arrange a translator over the phone, which I didn’t expect at all. I had mostly bought it for lost luggage or flight delays, but the medical part turned out to be the real safety net. That trip taught me that insurance isn’t just about “something bad might happen,” it’s also about how prepared you want to be if something does happen unexpectedly and far from home.

I used to be skeptical myself until I went through a house flood during winter. A pipe burst while I was away for the weekend, and by the time I got back, two rooms were completely soaked. Floorboards were warped, walls had mold patches starting, and the furniture was basically done for. The cleanup and repair costs added up fast—well over what I had in savings. Thankfully, I had home insurance that covered water damage from burst pipes (though I later learned not all policies do). They sent out a crew to assess and clean up, and I didn’t have to pay upfront for most of the repairs. If I hadn’t had that coverage, I honestly don’t know how I would’ve managed. It wasn’t just about the payout, either—dealing with professionals who knew what to do helped me stay sane through the whole mess. So in cases where the risk of damage is high, even if it feels remote, it can be a financial life-raft. The companies like Strata insurance can really be helpful, if you have a deal with insurance companies in most cases, especially in consulting