Often it should be cheaper to book flexible rates as possible. So far I even didnīt take an insurance for non-cancelable travels and take the risk. If itīs only a hotel I always hope at least someone of my family can use it. Flighs which are pricy if long haul are always a problem. Also sometimes many things are excluded, for excample known health problems. If I Count how many bugs I saved I guess on journey would be free
. Also my Platinum Card has some kind of insurance.
In general I think as older you are as more important is a travel insurance.