Absolutely. To me the main requirement is medical & medical repatriation. Your USA heath insurance is unlikely to cover you out of USA. Lost/stolen baggage, phones, computer & travel disruption are secondary. I never travel with any thing I want to keep for ever or that is very important. Am always prepared to just walk away from every thing I am travelling with. Travelled the world for 4 years with less than 20lbs (in the days before mobile phones & laptops)

There are threads on FT on travel insurance