The very first question!
Hi, Doc, et. al!
To me the very first question I ask regarding any insurance is: how much can I afford to lose without excessive pain--to the wallet.
With the exception of home owner's/personal property insurance, automobile insurance, and health insurance, I have not found any other insurance worth having. But each person has his own limits of comfort with "self insurance"(i.e., you are your own insurance company).
When it came to travel insurance, I asked myself what the maximum penalty to me would be. If I or someone close to me had a serious illness and I cancelled a trip, I could be out airfare, perhaps the cost of one night in a hotel (or longer in a condo), and one day's diving. I think that cost would be far from my mind if a serious illness were the cause of the cancellation.
Of course, your flight could be delayed or cancelled. You would probably still be able to get to your destination, but you might be charged for a hotel room you did not use or a day's diving you did not do. My guess is that cost would be less than or equal to the cost of insurance.
So, to me, the biggest liability is if I had rented a condo and paid for it in advance. Virtually all other costs, save the airfare, are fairly limited. Even with airfare, if one can demonstrate that "hardship" caused the cancellation, most airlines will be "generous"--especially if one talks to someone high in the organization.
Hope this helps,
Scorpionfish
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