15 Apr 2018 Wedding guests shell out over £300 for each wedding they attend, according to new research from home insurer Policy Expert which questioned over 6,000 people in the UK. Nearly half (49%) of people attended a wedding in 2018, meaning that Brits spent more than £8.2 billion1 watching their friends, family and loved ones say ‘I do’.
The summer months prove to be a popular time of year to tie the knot and guests will be totting up a total spend of £327 on gifts, food and drinks, outfits, accommodation and travel. For those lucky enough to enjoy the pre-wedding parties and attend the hen or stag do, the total cost of the wedding increases to £576.
When it comes to picking the perfect gift for the happy couple, the research found 40% of people give cash, 27% stick to the pre-approved 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 to celebrate the day but those in the wedding party would be willing to spend £150 to treat the lovebirds.
Adam Powell, COO at Policy Expert comments: “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.”
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