Purchasing any kind of insurance is very tough task to decide. There are some basic things which should be kept in mind that travel insurance is nice or not. It totally depends on the type of coverage which you are required. While you are planning and before making any decision you need to make sure of certain facts:
Cruise
Many of the cruises are taking deposits which are completely refundable
There is no risk involved if full payment is done before 70 days prior to departure of the trip.
Main financial risk comes before the departure of the trip and you want to cancel the same. Penalty might be different from one cruise to another cruise company. But one standard fact is that the closer the trip is the lesser amount of refund you will get.

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How to Get Cruise Travel Insurance

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