According to the Association of European Airlines, there is a 1 in 77 risk that your luggage may be misplaced anywhere along the way.
While it may not seem like a lot of chances against you, keep in mind that aboard a large flight, you may be among 200 other passengers. That means that three persons on that flight will have to continue their journey without their bags.
You might not be one of the three, but someone has to pull the short straw, and it could be you. Losing your baggage is not the end of the world, but it might get expensive if you have to repurchase everything you need for your vacation or that you purchased on your trip. Insurance might assist to alleviate some of the pain.
One of the most vexing aspects of travelling is finding a really good offer that comes with all the restrictions, such as non-refundable in case of severe weather, broken equipment, or whatever else they add to that fantastic deal to keep you from obtaining it.
Travel insurance is a terrific method to receive a good bargain and some reimbursement if your trip is cancelled due to your fault, or if there are delays or other problems.