I booked some travel to Europe where the need for me to be there was very much 50/50, and opted for the 80% Hopper insurance. The $1644 "standard" fare cost $155 to insure (although they don't call it insurance). In the end, I did not travel and canceled (the morning two days before the flight). The refund was deposited into my chequing account the next morning. An all around win. That said, I would have also taken an AC voucher for the full amount but that was not on offer.