Check my logic re: travel insurance

I'm no expert, but I think the value of "cancel for any reason" would be to reimburse any non-refundable costs if Italy's entry rules change before June to keep you from going there, or if they require a test and yours is positive, or if you decide not to make the trip because of Covid worries. And you'll be able to buy that CFAR coverage only for a limited time after making your first payment on the trip (most likely airfare).

I just bought insurance for a trip to Germany next month, way too late for any CFAR coverage, and like you my only signficant non-refundable cost is the airfare. I was looking for medical coverage in case I get sick (Covid or otherwise) over there. If we're lucky that won't be as much of a risk next June, but a year ago I'd have said the same thing about this year and look where we are.

Edit -- Just to be clear, I think your logic is sound (like mine).

Insurance is for when you find that you could not cover associated costs of an unexpected event.

If you feel that airfare and hotel costs are not an issue for you, then they probably aren’t. Many premium credit cards have built in insurance for trip delay and lost luggage that you mentioned. You may want to check what coverage you already have.

I agree that medical evacuations could be the budget breaker event for any family. There are travel policies for medical evacuation only. You may want to consider one of those.

"Cancel for any reason " usually only pays about 75% of your costs, but pls do check individual policies.
My USAA policy for my most recent trip- two weeks ago- considered Covid an illness, so all regular illnesses coverages would apply .
Safe travels!

Your logic is decent. You can only insure and recover actual losses. If you had a non-refundable (under absolutely any conditions) then you could insure the deposit but not the cost of the whole stay. Instead of travel insurance you are actually for a medical insurance and perhaps medical evac in an emergency. Different from travel insurance.

I am always prepared to eat my trip costs. I’m wary of insurance companies in general and don’t like to give them money. I do, however, buy medical insurance for while I’m traveling plus evacuation coverage for if I need to come home due to illness/injury. I use DAN - Diver’s Alert Network (nope, I’m not a diver - they offer regular coverage) for my medical coverage. They have pretty good reviews plus, the two times I have called with questions, they just picked up the phone - no phone tree or long holds. Their policy includes MedEvac.

I agree - I don't worry about airfare or tour costs. I believe most of the travel insurance providers offer medical/evacuation- only coverage. Actually, my regular employer-provided health insurance will cover overseas medical costs. I think the added wrinkle of a COVID quarantine bears thinking about.

I decided for my Sept 2022 and June 2023 trips to buy annual medical through GeoBlue and annual evacuation through through Medjet. Those will be my most expensive needs if I get sick or injured. I'm still debating about an annual trip insurance policy through Nationwide (no cancel for any reason) to cover non-refundable cancellation costs. I can't do the cost analysis until I start booking things to determine the non-refundable total. Rough premium estimate for all three insurances is about $1000, so $500 per trip.

I have purchased Medjet for years, and it will be the only insurance I will carry when I return to foreign travel. When will that happen? No plans for this year, cautiously optimistic for next year, but we shall see.

I used to buy MedJet but they have extra requirements - like a note from your doctor - for people over 75 and it bugs me to have the extra step. We therefore buy from AirMed for the same coverage. https://airmed.com/Home.aspx