Refundable vs non-refundable fares: which one catches price drops?
Your fare type decides how easily you can grab a price drop after you book. Here is the trade-off in plain terms.
Two fare types, two outcomes
Royal Caribbean sells most sailings as either a refundable fare or a non-refundable deposit fare. The refundable option costs more up front but keeps your options open. The non-refundable option is cheaper but locks more of your money in place.
That difference matters most when the fare drops after you book, because it decides how easily you can capture the lower price.
Refundable: more flexibility, higher price
With a refundable fare, a price drop is easy to act on. You can have the booking repriced to the lower rate, and you can cancel for a refund up to the cutoff if your plans change.
You pay for that flexibility with a higher sticker price, often a few hundred dollars more per cabin.
Non-refundable: cheaper now, credit at best
A non-refundable deposit fare saves money at booking, but your deposit is at risk if you cancel, and changes can carry a fee. When the fare drops, you may be offered onboard credit rather than a clean repricing.
For a sailing you are certain about, the lower entry price can still be the better deal overall.
Which to choose if you plan to watch the fare
If catching a future price drop is a priority, the refundable fare gives you the cleanest path to the lower price. If you are confident in your plans and want the lowest cost today, the non-refundable fare can win even after factoring in drops.
Either way, the move is the same: track the fare after you book so you know when a drop happens and can act on it in whatever way your fare type allows.