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Refundable vs. Non-Refundable Cruise Deposits: Which Is Actually Worth It?

Cruise ship docked at sunrise with a booking confirmation screen showing refundable and non-refundable deposit options

Two prices, same cabin, and almost no explanation. Here is what a non-refundable cruise deposit actually costs you, what happens to the money when plans change, and the one piece of arithmetic that tells you which fare to pick. Deposit rules for Royal Caribbean, Carnival, Norwegian, Princess and Celebrity, verified from each line's own published policy.