When getting a travel insurance quote, the trip cost must be listed. Trip cost can include any pre-paid and non-refundable trip costs associated with the trip. Expenses for flights, lodging, cruises or tours can all be insured against trip cancellation and trip interruption. Simply put, the trip cost should be the amount of money that the traveler would lose if the trip was canceled the day before departure.
The cash value of frequent flyer or travel reward tickets should not be factored into trip cost. However, if there is a fee associated with re-depositing those miles, then the amount of that fee can be included in the travel insurance quote. Always refer to the certificate of insurance for details.