Is personal possessions insurance worth it?

Is personal possessions insurance worth it in Australia, yes it is worth it if you have high value items you carry outside home $5K to $20K like jewellery $10K, electronics $3K, sports equipment $2K, as it covers theft, loss and accidental damage away from home costing $50 to $150 per year extra on contents $300 to $800 per year for $30K to $80K contents, paying for itself if one claim $1K to $5K in 10 years. Personal possessions insurance, also called personal effects or specified personal property, covers items you normally carry or wear like jewellery $2K to $10K, watches $1K, phones $1K, laptops $2K, bags $500, sports equipment $1K and musical instruments $1K for theft, loss and accidental damage inside and outside home including worldwide $5K to $10K cover. For example, contents $80K for 2 bed flat includes personal possessions inside home $80K for fire and theft, but if phone $1K stolen at café outside, personal possessions $5K cover $50 per year covers $1K claim minus excess $100, worth if one theft in 5 years $1K claim for $250 premium total. For jewellery $10K engagement ring, specified personal possessions $10K cover $100 per year covers loss $10K, worth if one loss in 100 years. If you have low value items under $1K and rarely carry outside, may not be worth it as contents already covers inside home. So personal possessions insurance worth it for $50 to $150 per year extra for $5K to $20K cover away from home if you have high value jewellery $10K and electronics $3K you carry outside, as one claim $1K to $10K pays for 10 to 20 years premium, but not essential if low value items under $1K and stay home.