The common risk that you might face as a traveler is the loss of luggage, money and vital travel documents like tickets and passport. In this situation immediate help is required as family member's back home need to be informed and embassy representatives have to be contacted. If you manage to contact the embassy all they can do is inform your family back home and your family members will have to bear the burden of managing the logistics of helping you get back home. The embassy does not pay for repatriation which essentially means sending the distraught traveler home. However insurance for travel is useful in such times as it can cover majority of costs associated with the logistics.

Oh, do you provide travel insurance for pets? I'm going to be on holiday next month and do not want to leave my cat at home...

 Travel Insurance can compensate your loss during travelling,
I think it is compulsory thing.

You should have travel insurance because it's important and also beneficial for you and it's helps tourist in many emergency situation. A good insurance policy take cares of you and you can travel without any stress if you have a good travel insurance. Cost is one of the main reason that people decline travel insurance but considering all the cost when you are traveling and incurred by not having travel insurance.

As per me many individuals see journey cover as an needless cost on top of an already expensive holiday. This is often far from the situation, and there are several explanations why you're recommended to take out a appropriate plan.

Travel insurance is necessary because if u have injured in travel then this insurance is help for you and your family.

Because now days traveling is very risky.