I decided years ago I would "self insure" everything except the catastrophic hits - MAJOR medical, MAJOR house hit, etc. Max deductibles. Forget that appliance insurance, but buy carefully and read the manuals. Drive carefully.

The cheap promotional deals I figure are an assumable risk.

So far so good. For me that is ... some insurance companies aren't making money off me.

The one airfare I felt I had to change because of an extremely serious medical issue with a family member, the airline had mercy and waived the change fee.

When I'm traveling with someone else though, I sometimes do take out the insurance. More so I don't mess them up with a problem, but I figure the relationship is worth the cost of the insurance. When I'm on my own, I'll accept the hit if there is an issue.

I believe you got more accurate advice from wander9020 regarding your specific fare. I'm deleting some of my comments.
Romelle