Nope. I never travel without Travel Insurance. One of the benefits of a Travel Insurance policy is the Cancellation Protection. With valid proof of an illness, travel insurance will reimburse you whatever cancellation penalties you incur from the travel suppliers. I've used it before, when my wife became ill right before a Bahamas cruise. It took about 30 days to process the claim, but the money was reimbursed.
Another fairly common scenario is when a family member falls ill- say an elderly parent- and you find yourself in the situation of deciding whether to stay by their side or eat a huge cancellation penalty. Any travel insurance policy worth its salt will cover not only the travel party but close family members as well. I never hope you never have to be in the situation of having to decide to care for your sick relative or go on your 14-Day Tour of Ireland, but if you are, it's great to know that you've covered your travel with a great insurance policy.
Travel Insurance does much more than just protect you from cancellation penalties. It protects you in case you run into unexpected medical situations while traveling- including air evacuation, it covers loss of baggage, and offers you a 24 hour hotline to get emergency help in a foreign country. It's a lifeline I wouldn't leave home without. Coverage may vary by state, so you'll want to get the specifics on your policy.
AMS Travel Sales uses Travel Insured International, an insurance company that has been trusted with thousands of trips. They are a great company to work with and make the claims process as easy as it can be. With AMS Travel Sales working with you through the claim, you can know it will be handled correctly.