Here is what Gary Leff of View from the Wing posted regarding the Sapphire Preferred Card:

Buy airline tickets with the card and if you’re delayed 12 hours or overnight you can get reimbursed for hotel costs and meals.

You must be on a round trip ticket (trip not to exceed a year) and have charged at least a portion of your ticket to the card.

The $500 benefit applies to each spouse or dependent (under age 22) that’s delayed whose ticket you charged to the card.

Since you only have to charge a portion of a ticket to the card, coverage applies even to award travel thus it’s best to pay award ticket taxes with a Sapphire Preferred Card (and not just for the double points on airfare).