Many travel companies, yours included, will present travel insurance to you. It is up to you, as the consumer, whether to accept or decline this option. Don’t be surprised when you are asked to sign a waiver declining the coverage.
Here’s a scenario: you and your spouse are planning a wonderful trip for your anniversary and you have planned it months in advance. When travel insurance was presented, you declined because you were arrogant enough to think that you are impervious to injury/illness.Approximately three weeks before your dream 26th anniversary trip to the beautiful island of Saint Martin, you are in a bicycle accident that results in five days’ hospitalization with significant injuries that lead to surgical intervention.
Dream trip canceled, the airline graciously offers a flight credit, minus fees, the beach rental offers you a refund for one night pursuant to the agreement, and a 
couple of the excursions you pre-paid do not offer refunds. Bottom line, I lost a lot of money because I FAILED to purchase travel insurance.
couple of the excursions you pre-paid do not offer refunds. Bottom line, I lost a lot of money because I FAILED to purchase travel insurance.The above scenario actually happened to me and I learned a valuable lesson – much like having health insurance, auto insurance, homeowner’s insurance, and pet health insurance, I will always have travel insurance. I am not a psychic, I cannot predict the future, and I certainly never anticipated being so injured that I had to cancel a trip but there are instances where bad events happen that are completely out of our control. My advice, plan for a rainy day, especially when it involves your vacation. Hopefully you will never need it!
This is great info. I ALWAYS go back and forth whether is should get the insurance. I’m a biking enthusiast myself and I could see this happening to me!