Remember when discussing UOR cancellation policies, there are two things you can be talking about: packages or a la carte (booking your room and purchasing your tickets, meal plans, etc...separately).
If you take time, you will usually find a la carte to be the same or close to the same price as booking a package...at the standard rate.
But, packages are going to cost you, if you have to cancel...either the fee if you are x number of days out, the entire package price, if you are not far enough out when cancelling (you will still get your tickets), or the cost of the insurance. And, you have to pay all of the cost, up front.
A la carte is generally the best way to go, because you can more easily change hotel reservations, apply Annual Pass Holder Rates, cancel within 5 days, without penalty and buy your tickets/passes after you arrive. And, you only have to put down a single night's deposit, up front.
Of course, at the moment, policies have shifted, but it still is usually better to not book a package (monetarily, anyway). If you have booked a package, don't fret over this post, you'll be fine. Just some food for thought about your next trip.