Just like insurance, if you don't have it and you crash your drone, you'll really wish you would have bought it.
If you DO buy it, and then never need it, you might think, "Well, that was a waste of money".
But I've bought it with both my Mavics just because I know the peace of mind that I have when flying for that first year is worth the 27 cents a day to me. I've never had to use it. I also have a full coverage State Farm policy on the drones that I've never had to use. ($60/year - no deductible/no questions asked/full replacement)
Having "double coverage" on the mavic means far less anxiety when I fly, and having anxiety while flying around a $1500 toy really takes away from the joy of it.
If you have the extra discretionary income to spend on it, I highly recommend it. I've never needed it, but I've never regretted it.
I fly over water a LOT, so if something unexpected DOES happen, I know the drone will almost certainly be totaled and/or lost forever.