Terrific points, especially concerning that you are probably not buying 'insurance' per se, that therefore it's not regulated and there's no guarantee of anything - at least as far as is known. And the point of the $7,500 limit should also give cause for concern.

So it comes down to a simple matter of personal choice - if you want to spend the $200 for 'peace of mind', you can afford to do so, and you realize all of the above, go ahead and do so. It's your right to make choices, thankg goodness, but for those getting a little peeved with this issue having been brought up, remember that there are valid reasons out there and no one's intent here is to unfairly slam anybody - just point out cautions to those who are asking questions.