The DVC one does protect flights, transportation and your MFs for dues. I’ve purchased it twice and did read the policy. Covered reasons are very similar to the travel insurance you would be accustomed to with any
travel agent. Insurance is a great product until you you need to use it. One noticeable difference from the policy I previously purchased with NCL is that there isn’t a ‘cancel for any reason’ option. If you purchase for DVC, make sure to call MS and confirm the UY your points are coming from. You purchase the insurance for the UY being used. Gets tricky if the trip is using banked plus current UY points. I think that requires purchasing the insurance twice - once for each UY. You can also ask MS to give you the link to the policy if you want to read it before purchasing.
I think in the past DVC may have returned points to the UY if it was a declared hurricane during your travel. Others may know that better but I think it’s a last minute decision by DVC.
I had a non-DVC trip booked during Ian. Disney waited so long to allow people to cancel. At that point it was a tropical storm warning but you knew it was going to be a hurricane for our travel dates and I needed to manage airline reservations. My daughter got sick so I cancelled and went through insurance that way. IFIRC, Disney didn’t let people cancel until they closed the parks.
