Health insurance, car insurance, renter's insurance, pet insurance, travel insurance.
All of those things are necessary and they insure one's peace of mind. It is easy to think that paying a minimal monthly amount is ridiculous, but when something catastrophic happens, insurance saves the day.
Insurance will save one's car, another driver's car, items in one's apartment, cover the bills for a sick pet, reimburse one for a trip that got cancelled because of bad weather, or pay medical bills.
Purchasing insurance is necessary and it should factor into everyone's budget. One hundred dollars every month is far easier to handle than one hundred thousand because something unexpected happened.
Make sure that the medical coverage on your travel insurance is going to be enough to cover the expenses that may incur if you fall ill or get injured during your travels. Check the guide online to be sure that the amount your insurance provides is enough to cover the costs.