We are not sure why DJI decided to call this "Refresh" but this is what you need to have your aircraft covered. It needs to be purchased before you activate you Mavic Pro.
This does not cover lost or stolen product. More info at DJI.com
If you need to send the Mavic in for repair it will be going to DJI and you need to pay a deductible as seen below. Note the prices for North America are in USD
In NA region (US & Canada), the first time replacement fee is $79USD, the second time replacement fee is $129USD.
See dji.com for full list of coverage