Brits splash out more than £8.2bn attending weddings
The home insurer questioned more than 6,000 Brits and found nearly half (49%) attended a wedding in 2018. It calculated that this puts the total annual wedding cost for the UK population at £8.2bn.
The research found wedding guests spend an average of £327 on gifts, food and drinks, outfits, accommodation and travel. For those who also attend the hen or stag do, the total cost rises to £576 for each wedding.
When it comes to picking a gift for the happy couple, the research found 40% of people give cash, 27% stick to the gift list, and 19% opt to gift money towards the honeymoon.
One in five (19%) give gift vouchers and 5% of wedding guests go for a personal touch with a handmade or quirky gift. Wedding goers spend an average of £59 purchasing gifts, with those in the wedding party typically spending £150.
Policy Expert chief operating officer Adam Powell said: “If you or a family member is set to walk down the aisle this summer it’s important to check that gifts received from generous guests, as well as wedding rings and other valuables, are covered in your home insurance policy. While it may not be at the top of the checklist it’s an important consideration.
“The average gift costs £60, so even a modest wedding could bestow you with hundreds if not thousands of pound worth of presents. Policy Expert offers an additional 10% contents cover the month either side of your wedding as standard, meaning you can cross the threshold on your return from honeymoon without any nasty surprises.”