Insurance is for a cruise is just like insurance for your car or home. It's there if you need it.
I remember reading a post on another board - someone had always taken out insurance and never had to use it. They booked a cruise just a short time out and skippped the insurance because the sail date was so close. Needless to say, a medical emergency came up and they had to cancel. They lost their deposit.
You could wait until closer to final payment to get the insurance, however, if you have any medical condition and a problem comes up, it will not be covered. If you purchase insurance within a week of booking, pre-existing conditions are covered.
On our trans in 01, one couple was glad they had insurance. Their flight was running late, and they missed the ship. They called Celebrity's agent in Barcelona only to find no one there (it was Sunday). Luckily, they had the cruise insurance so they called the insurance company and the company called Celebrity and started the arrangements to get them a hotel and transportation to Cadiz (our next port).
