In Australia, most people are obliged to have a certain level of insurance for everything they own, use or interact with.
For the things they own, they can search and pick the insurance policy that protects the things when they are at home or when they are on travel. Travel Insurance helps in keeping things safe in case of flight delays, theft or sometimes when you have lost your luggage on airports. This is surely helpful in case if you lose your documents and other valuable belongings while traveling.
For buying the most suitable insurance plan for any kind of belonging you have, you may have to compare the overall cost. It is a fact that when people buy their business insurance, motorcycle insurance or house insurance, they focus a bit more on the cost of the plan. But buying the cheapest options I not a good idea and the features, kind of protection and the quality of coverage must be compared equally.
Another fact is that when people look for the most suitable comprehensive car insurance or public liability insurance the protection and overall features would be different in many ways and you have to weigh the importance as per your unique circumstances and not follow the general rule that others are doing.
Also when people find Landlord Insurance they will always have to follow the features according to the value of their property and in the same way the overall usage of the property alongside the external circumstances that affect their property.
So buying insurance depends on factors like the value of the things that is to be insured, the external circumstances, the kind or style of usage and the way people or the owner wants to protect it. And last but not the least is the overall cost that is desired.