Travelers are able to insure pre-paid, non-refundable costs associated with the trip. This includes costs tied to frequent flyer miles. Once a flight is booked using a reward program, like frequent flyer miles, the airline normally has a cash penalty for re-scheduling or re-depositing those miles. When getting a travel insurance quote, include those penalty costs in the total trip cost. The actual miles are not being insured, only the additional costs from the airlines. When it is time to file a claim, the traveler will be paid on losses that can be proven, including the cash penalty from the airline frequent flyer miles. Each travel insurance carrier has limits to coverage, always refer to the travel insurance certificates for details. If you have questions, you can contact Squaremouth at 1-800-240-0369.