If you miss your flight due to a delay by the airline such as missed connection then you will not pay this penalty. If you miss the flight because you overslept

If you miss your flight due to a delay by the airline such as missed connection then you will not pay this penalty. If you miss the flight because you overslept or got stuck in traffic then yes absolutely will pay this penalty. You will have to pay this fee at the counter in order to be rebook. I also wouldn't call $200 plus any change in fare for the rebooked flight "nominal."