"Pay as you go insurance" premiums

[Gilford57]

I have occasionally seen discussions about just insuring the trip deposit (for a small premium) and then adding additional insurance (and premiums) as you make more non-refundable payments.  This is supposed to protect someone from time sensitive clauses such as a pre-existing conditions waiver.  It seems like a great idea for expensive trips many months or more in the future.  If I decide not to take the trip before final payment, at least I did not risk much on insurance.

 

• Is this accurate and does it work?
• If so, how do I actually do this?  How long do I have to add insurance after making a future payment?
• If  instead I insure the full cost of the trip up front, and decide to cancel the trip, would any or all of my insurance premium be refunded?

[InsureMyTrip]

[Gilford57]

@InsureMyTrip - Thanks for responding to my question from another thread.  Hopefully you will address this question too.

 

Also - if there is a way you can provide your responses as text instead of an image, it will be much easier for people to search later.