Wording on baggage delay insurance is less stringent . For trip cancellation and trip interruption insurance:

"Note: Trips will not be covered for Trip Cancellation, if purchased with points from a reward program other than the Membership Rewards Program."

So one may argue that for OTHER travel-related insurance, trips redeemed through other points programs may be covered. And there are numerous reports that reward flights are covered for delays. YMMV.