Travel in UK/Ireland (Travel insurance)

I am considering travel insurance. I went to per Clark’s recommendation. Looks like prices on insurance is very high. I heard Clark say buy with a cancel for any reason policy but they run over $1000.00 for a 50% plan for a $7000.00 trip. Which seams too high to justify. Do most people buy travel insurance. This is my first trip over seas. I see cost without CFAR run closer to $500. I can see just doing that or going without insurance am I making a mistake? Any advice would be greatly appreciated.

We have been travelling overseas for 5 decades. Somewhere along the way we became aware through Clark of the cancel for any reason insurance but decided to self-insure the trip costs. However, the costs can be high if a significant medical event occurs while travelling. So we have been obtaining trip medical insurance since we started on Medicare

Thanks that was the way I was thinking of going.