The great thing is, it’s not just for flights! My travel insurance gives me coverage as long as I’m travelling outside my home. It literally covers damage to my bike if I’m visiting my parents for the weekend, or road assistance if my car breaks down on my way to a hike.
That’s essentially why I have it: Pretty much everything I bring with me on any trip that’s not to-from work is covered.
I’ll add to this that Europe has about 1.6 times the population of the US. This means that Europe has roughly one school shooting for every 12 incidents in the US when corrected for population.