Hi J ☺️. I’m pretty sure I’m not an oracle, but I'm definitely telling my husband that you think I am. As for @Kgills; it’s not a straightforward answer. For years, the answer was as @PescadoAmarillo stated. Credit, gift cards, etc. were not insurable because it was not money from your bank account to the cruiseline. Then came Covid and ALL those FCC that Princess pushed in lieu of cash refunds. And inevitably some of those cruises were also cancelled; and that’s when the silliness began. Princess began allowing their PVP “insurance” to cover these credits. Third party insurance did not, never did.
So…I can’t predict what might happen, but if I were in your position I would start a chat with Princess and ask (while clearly stating this is just a what-if question and NOT a request to cancel) what their system says. If they can offer you new credit with an extended expiration, great. If they say No, ask why they sold you the Platinum policy and what price you paid for it and what it covers. Then make sure you print out the chat so you have it all in writing.