As ethics of fieldwork gain prominence, discussions in qualitative methods have increasingly focused on the relationship between vulnerability and fieldwork practices. Existing literature provides ethical prescriptions and safety recommendations for fieldworkers in ‘dangerous places’. However, it falls short of addressing the analytic stakes created by experiences of vulnerability in the field. This is problematic because it limits the fieldworker's reflexivity, preventing them from examining unsettling situations as relevant data. To address this, the article builds on an understanding of vulnerability as a type of situation. We argue that fieldworkers gain an analytic advantage by reflecting on experiences shaped by situations of vulnerability, offering insights into the social context under investigation and the researcher's position in it. The article demonstrates the epistemic value of vulnerability by drawing on fieldwork on the Colombian conflict and peace process.