I've never had it, but I have a family member who's quite savvy, financially, who does.
In my humble opinion, the way to look at insurance is not whether you'll make out on it, because the nature of insurance is that you likely won't. Rather, is the peace of mind worth the premium?
But read the fine print carefully, like someone else said. Insurance companies are absolute masters at not covering things, and at making it a Herculean task to force them to cover what they do agree to cover in their contracts.
Ask me how I know; I'll show you the denial file.