One minute you're in the middle of photographing one of the most beautiful landscapes you've ever seen. The next minute your camera is on the ground, broken.
A gust of wind lifted your tripod off its feet and sent the camera to its death. You don't have a second body (because let's face it, gear is expensive) and you have no money to buy another right away. The closest thing you've ever had to a child just died, and now you're screwed. What do you do besides immediately break down into a swimming pool filled with your own tears?
Moral of the story: It's not fun watching your camera - possibly your most prized-possession and money-maker - shatter and become inoperable. Insure your gear.