What does the hotel mean by canceling insurance?

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Cancellation insurance is more useful if you want to get a refund after check-in time, that is to say, if you can't check in after check-in time for any reason and want to cancel and get a refund, this cancellation insurance can give you a full refund. If there is no termination insurance, you will not be given a full refund, and some fees will be deducted. For example, if you haven't checked in for a long time, but someone else's hotel has reserved a room for you, you have to bear the loss, and there are some handling fees and so on! You got it? If I understand, I think what I said is right. Please accept it. Thank you.