Fact is winners do not keep the casino lights on. You want to bet your trip gets messed up, want them to bet it don't. If the companies did not expect to win they would not offer the policy.
Your point? We all have RV insurance. Yes, they pay out but if the did not expect to win they also would not offer the policy. I went to a very nice seaside inn in July. I never get insurance for just a hotel but made the exception due to their very strict cancellation policy. The policy was a fraction of what it would have cost if I had to cancel last minute. Well worth it in my book.
It would be nice of more of you answered the OP's question rather than criticize him.