This fare will disappear soon, so book it now with 24-hour cancellation privileges. East Coast cities to Budapest, Hungary, for $338.
Change / Cancellation Fees for Airline Award Ticket Bookings
This is an excellent summary of airline charges for changes and cancellations of award tickets.
The policies of twelve airlines are examined. The best, with no charge for changes / cancellations, are Korean Air and Southwest.
How to Get Compensation for Delayed Europe Flights
You can receive large payments if your flight on a Europe trip is delayed or cancelled, but you have to apply for it. This post tells you how:
http://travelsort.com/blog/success-getting-air-france-to-pay-eu-compensation-under-ec-2612004
In the example, the person received over $600 USD. However, it takes time and the airline will not tell you about it…you have to start the process yourself.