If I purchased CFAR travel insurance pilicy should I buy a non refundable airline ticket ?

Every insurance policy is potentially different. You need to read your policy very, very carefully to see what is covered and to what degree. Labeling an insurance policy "Cancel for Any Reason" doesn't necessarily mean you can cancel for literally any reason. It depends on what the policy language says.

It's my understanding basic CFAR policies cover only 50% of the losses covered by the policy. You have to pay considerably more for a policy that covers 75%. Which type of policy did you purchase?

The other thing to look at is what is the airlines policy. For example since I live in Atlanta a lot of my flights are on Delta. If I cancel, as long as it's not basic economy, I get an ecredit for the full amount to use within a year of booking

Yes indeed - it depends on the class of ticket (for example, wirh Economy you have multiple fare classes. Many allow cancellation with partial refund, or free rebooking. I normally book fares that allow free rebooking.

Most insurance under the best of situations will ONLY cover actually, out of pocket lost. For example a non-refundable or non-cancel ticket can sometimes be exchange with the payment of a change fee, cancellation fee, etc. The insurance will cover the cost of the change fee and not the price of a new ticket. The only time I worry about a non-cancel policy is for a big ticket item like a cruise or a whole house rental of several thousand dollars.

It sounds like you bought the policy after booking the tour but before you have even purchased your airline ticket. I’m wondering if the policy would even cover your airline ticket if you don’t have it yet and therefore didn’t insure the full cost of the trip/air ticket? Or did you include what you believe the cost of the flight will be in the total insured amount?