You should protect the full cost of all of your non-refundable air, land or cruise travel arrangements.
For example, many first class airline tickets, and some business class tickets are fully refundable. You should only buy travel protection for the full cost of your non-refundable travel arrangements. Non-cash transactions such as frequent traveler awards, early bird discounts etc, generally cannot be covered as these items have no cash value.
Important Tip! You should always insure the full cost of any non-refundable travel arrangements, as there will be additional limitations and exclusions if you insure less than the full cost of your non-refundable travel arrangements.