Change of Heart Insurance for Canceled Weddings

(For when that couple doesn’t make it anywhere close to the altar)
Christine Lacagnina Written by Christine Lacagnina
Christine Lacagnina
Written by Christine Lacagnina

Christine Lacagnina has written thousands of insurance-based articles for by authoring consumable, understandable content.

paul martin Reviewed by Paul Martin
paul martin
Reviewed by Paul Martin

Paul Martin is the Director of Education and Development for Myron Steves, one of the largest, most respected insurance wholesalers in the southern U.S.

Change of heart insurance

You’ve spent a bundle of dough on your child’s wedding, so you’re expecting them to make it to the big day. But what happens when the couple gets cold feet and calls off the nuptials after you’ve made all those arrangements (and deposits)? Planning far in advance can be a huge stress reliever, but it can also end up costing you. Fortunately, for weddings that never achieve takeoff, there’s change of heart insurance.

What Is Change of Heart Insurance?

Essentially a unique type of event cancellation coverage, change of heart insurance is a policy designed to protect parents and other “innocent financiers” of a wedding that gets called off due to a change of heart. Should the happy couple become not-so-happy soon enough before the big day and call the whole thing off, change of heart insurance can help refund some of those deposits made by family members, friends, etc.

How Does Change of Heart Insurance Work?

There’s a handful of rules that change of heart insurance plays by. In order to qualify for coverage, the following criteria must be met.

  • The wedding must be canceled at least one year in advance. Any later than that, and it’s no dice for coverage.
  • The wedding must be called off due to “cold feet,” or a change of heart, by the bride or groom—cancellations due to any other reason aren’t covered.
  • The wedding must be canceled by the bride or groom. Or both.
  • Coverage offers protection for “innocent financiers” only, such as parents of the bride or groom, or other family members or friends who put money toward the nuptials.
  • Coverage does not apply to the bride or groom. Change of heart insurance is only meant to protect those innocent parties not in control of the event’s cancellation.

Wedding planning puts a great deal of stress on everyone involved, but news of the event’s cancellation can be just as stressful. Along with all the time spent making travel arrangements, shopping for new clothes, selecting the perfect gift, etc. comes the frustration of seeing all that hard-earned dough go right down the drain. Luckily, change of heart insurance can at least help prevent those financial losses.

What Does Change of Heart Insurance Cover?

Basically anyone other than the bride or groom who’s spent non-refundable cash on the canceled wedding. There are tons of stuff to spend money on when it comes to weddings, and it’s not hard for an innocent party to rack up their tab quickly. It’s understandable for those who make financial contributions to be concerned that the couple may not actually tie the knot.

Coverage may reimburse innocent financiers for the following:

  • Deposits on event venues
  • Deposits on vendors (e.g., caterers, florists, etc.)
  • Deposits on entertainment (e.g. DJs, live bands, etc.)
  • Travel expenses (e.g,. flights, etc. booked far in advance)
  • Gift expenses

Helping to finance your loved one’s wedding is a great way to show you care, but it’s also risky to do so far in advance. Thankfully, change of heart coverage can help bring peace of mind for innocent financiers who never get the chance to see that couple say, “I do.”

Why Would I Need Change of Heart Insurance?

Mainly for safety net purposes, if you’re an innocent financier who shells out for a wedding well ahead of time. A survey conducted by WP Diamonds reported that 20% of all engagements are called off before the wedding day. That’s a one in five chance your deposits will end up going nowhere.

Parents, other family members, and close friends who are responsible enough to make arrangements more than a year in advance deserve some form of protection for their contribution, particularly if they’re left hanging. Since there’s usually no way of knowing that far ahead of time if the couple will end up with cold feet, having change of heart coverage can seriously decrease the risk of hundreds or thousands of dollars lost.

How Much Does Change of Heart Insurance Cost?

Short answer? It depends. Like with any other kind of event cancellation insurance, several factors will influence the cost of a change of heart policy. Costs can range from the low hundreds to high thousands, and the price tag on coverage is typically in range of 1%-1.5% of what you shell out for the event.

The following factors may influence the cost of change of heart coverage:

  • The amount of money spent on deposits, etc.
  • The size of the event
  • The location of the event

Obviously, a pricier event will call for pricier coverage. Weddings can be big or small, humble or showy. The cost of your policy will depend on what specific aspects of the wedding you personally finance.

How Do I Get Change of Heart Insurance?

For the more obscure and less common types of insurance coverage out there, you might not be able to find what you’re looking for just anywhere. While our independent insurance agents may not be able to provide you with this kind of coverage directly, we’ll happily provide a list of agents in your neighborhood who have access to multiple insurance companies. You’ll walk away with the most options to find the absolute best coverage for your insurance needs.

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