Here is something we've found out the hard way:
If you are booking a cruise on Princess to include your kids in a their own staterooms, as we did for our son, 43yo, and another cabin for our daughter, 45yo, all together three cabins,
and you pay the total bill, be aware that if one of them cancells, as our son did, HE gets the insurance credit of 75% for HIS NEXT cruise within ONE year limit. The beef there, is that I paid for his stateroom and I should get the credit. It took me two and a 1/2 years to convince Princess that I am the one with a checkbook and finally, it took a Notary Public's certified letter to change and send ME the
credit.
Wait, there is more!
Just before the Iraq war, my wife and I booked another cruise (Transoceanic from London to NYC) this October on Grand Princess. Princess then changes the itinerary and the date to Golden Princess. We did not like the itinerary and the new date and our TA cancelled this cruise and booked both of us on Sun Princess (Eastern Carib/10days) also this Oct 22. Now, we find out that since we cancelled the one from England to NYC, Princess will deduct $600.00 from our sons'$1740.- insurance credit. Princess reasoning,- one is allowed to apply the cancellation insurance rebate only to the NEXT cruise, without any new cancellations! Mind you, the Princess changed the itinerary, the vessel and the date!
Oh well, one last cruise on Princess this October (to obviously use up the Insurance refund) and hopefully many other cruises will be with Celebrity or Royal Caribbean!