“Insured: Free cancellation and no change fees”: What does it mean?

Given the current situation worldwide, you can now add cancelation insurance to your reservation whenever you book with ParkCare. That allows you to change and/or cancel your booking for free and entitles you to a full refund. This is valid until as late as the scheduled time of your parking period. Without cancellation insurance, you can only get a full refund if you cancel your booking more than 24 hours before you're scheduled to park. If you decide to cancel less than 24 hours before, you'll be charged 15% of the total parking fee for administration costs. When booking a parking space with ParkCare, you have an option to add cancellation insurance to your reservation. If you choose to include it in your booking, you can then change or cancel your reservation free of charge and get a full refund. This applies right until the scheduled time of your parking period. Without insurance, however, you’re entitled to a full refund only if you cancel your reservation more than 24 hours before your scheduled parking period. If you cancel less than 24 hours before, you’ll be charged 15% of the total parking fee.”