We will probably be able to survive from home, but the potential of having to bug out is something we need to take seriously and every bug out bag should have an emergency poncho in it. Getting soaked in the rain is never fun, but what would you do if you got soaked and the bag strapped to your back with everything you need in it got soaked too? That sounds pretty awful to me. Luckily, your insurance to keep this from ever happening is very cheap.
Most importantly, and maybe you’re noticing this theme I keep hammering home, your emergency poncho is very compact and it won’t take up much space at all in your bag. The weight it will add to your bag is mere ounces. For that reason, not having one of these makes no sense. Not only if you needed it because it was raining when you had to get up and go, but because when you are out in wilderness surviving in the elements you’ll need it when it rains there as well.
The emergency survival poncho I have chosen is large enough to shield my body and my bag strapped to my back from rainfall, but with the hood and the well fitted neck hole everything is sure to stay dry. It also has a mylar liner which retains 90% of body heat, which could be useful. Considering how compact the poncho is in its bag, I might get a second poncho without the mylar liner inside if I don’t want to retain my body heat if its August and humid while raining. If I only had one I would definitely rather have the mylar lining though. No question.