What does "Insured: Free Change and Cancellation" mean?

When booking a parking space with ParkCare, you have the option to add cancellation insurance to your reservation. With cancellation insurance, you are able to cancel your booking free of charge at any time and get a full refund. If you book without the cancellation insurance, you are only entitled to a refund worth 85% of what you paid (a 15% administrative fee is taken). This is only if you cancel your reservation more than 48 hours in advance. Furthermore, without cancellation insurance, if you change your booking less than 48 hours prior, you will still be charged full price. Changing the details of your booking (for example, changing the license plate details) is free of charge.

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