In most cases, yes. Trip cancellation coverage gives cash back for prepaid, nonrefundable payments if you have to cancel your trip for one of the reasons covered by your policy. Some reasons include sudden covered medical emergencies, financial default of a covered airline, cruise line or tour operator, employer termination, terrorist incidents, and jury duty. Changing your mind about taking a trip or having certain business obligations are not covered.
If you cancel your trip for a covered reason, you must notify your travel supplier(s) within 72 hours of the cancellation.