CFAR Travel Insurance for trip to Cyprus?

My family of five is planning to travel to Cyprus in late June. It's an expensive trip, and we're keeping an eye on the armed conflict in the area. Question is: Should we get travel insurance? And if we do, should we get "cancel for any reason" in case the conflict expands and the trip seems unsafe? Or if it's that unsafe will we be reimbursed by the airline anyway? (Likely British Airways)