If you cancel (under 45 days), you will not get the $200 back, but if you ask nicely, they might let you rebook, and put that $200 deposit towards the new reservation. So you won't get the $200 back, but you might be able to apply it to a later date.
You MIGHT also be able to get
trip insurance. Most places like for you to buy it within a week of when you booked the trip to get the full measure. In your case, it might be worth doing, so long as you read the fine print and make sure the policy you buy covers your needs.
If you got trip insurance or airfare via WDW, then you likely will also lose what you paid for those.
Also, be sure to note that you have indeed booked a PACKAGE. If you booked a 'room only' resort reservation, then your deposit is equal to one night (the average of all nights, as weekend rates are higher). If you have a room only booking, then the five night limit applies, and the penalty for canceling at under five nights is the one night deposit.
Also, if you booked any dining- be sure to cancel that as well, otherwise you MIGHT be charged as a no show, which could be $20 per person per no show! Canceling a package or room reservation is seperate from canceling dining. Dinign is not cancelled unless you specifically cancel it.
(•You must pay a $200 deposit within 7 days of reserving your package. (Except when booking online at DisneyWorld.com, in which case the deposit is required at time of booking.)
•Final payment of the entire remainder is due 45 days prior to check-in. You have to pay in full right away if you are booking less than 45 days in advance.
•You can change or cancel your reservation without penalty up until 45 days in advance. If you cancel 44 days or less in advance, there is a cancellation fee of $200. You’ll also lose any nonrefundable elements, such as
travel insurance and airfare. No refunds are given for cancellation of a Grand Gathering experience made 6 days or less prior to the experience date. No refunds will be given to no-shows.
•Any changes that result in a lower rate, such as applying a discount code, reducing number of days and/or changing to a lower-priced resort, made 45 days or less prior to arrival, are subject to a $50 fee.
•Beware – WDTC usually adds nonrefundable travel insurance to your package by default. If you don’t want it, tell them while you are making the reservation. Once you hang up, it’s too late. You can add the insurance later if you wish, up until your final payment is due. You can also buy travel insurance directly and usually save some money that way.
•Airfare added to your reservation is also nonrefundable.)
