Lost/delayed baggage is covered by Montreal Convention anyway, so airline is liable for this
If your travel is disrupted and a hotel stay is needed en-route, the airline will cover
It will only cover you for the period listed on the policy - if it says 2 days, then that is all it will cover
If wanting a comprehensive insurance coverage, I woudl suggest looking elsewhere

It looks like you are basically paying $28 for having a 3rd party deal with a claim if needed

If it gives cancellation coverage , then depending on the refund penalty of the fare, it may be worth having