It's very possible Disney will not be open during your dates. If you are considering going later in the summer, you may want to consider modifying the reservation you have. Your dates qualify for the special
free dining promo that was released for guests who had trips booked between March 16 - May 31, so, the trip you priced out for July might price out even less with that promo. Here are the details:
"Eligible Guests can take advantage of a
vacation package offer that includes accommodations at a select Disney Resort hotel, park admission and a
Disney dining plan—valid for arrivals most nights June 1 through September 30, 2020 when you book through May 31, 2020.
This offer is valid only for Guests who previously booked a vacation package or room reservation to stay at a Disney Resort hotel at Walt Disney World Resort for travel dates March 16 to May 31, 2020. Offer not valid for reservations travelling these dates that were cancelled before March 1, 2020."
My only advice on purchasing the Disney
travel insurance, if you are booking a new package - I wouldn't purchase it until any of your travel components are non-refundable. It only covers non-refundable components, so there is no reason to purchase it at a point in time when you can get all of your money back. Do you have travel insurance on the May package? If so, I would ask if that travel insurance would transfer to the July dates if you simply you modify your current reservation to July.