Buckle up for an expensive wedding season

Buckle up for an expensive wedding season

Be warned, wedding season is expensive: if you’re invited to a wedding, and are also going on the hen or stag do beforehand, expect to spend almost £600!

For most couples, getting hitched is an expensive business and there’s usually lots of sympathy for the bride and groom, or parents if they’re paying. But spare a thought for the guests as it’s seriously costly for them as well, latest figures from insurer Policy Expert show.

Average wedding guest spends nearly £350

With most couples tying the knot in the summer months, wedding guests all over the country are right now booking accommodation and buying gifts and outfits, spending an average of almost £350  in the process, Policy Expert’s statistics reveal.

Not everyone is so spendthrift though. Just over one-in-six (16%) sensibly manage to keep things under greater control and only find themselves out of pocket by under £100 when celebrations are over.

Extra cost of stag and hen weekends

For a ‘lucky’ few, there’s also the extra expense of going on a hen or stag do as well.

Peer pressure can mean it’s difficult to say no, and expensive boozy trips abroad or activity weekends in the UK are now hugely popular ways of celebrating with friends pre-marriage.

Policy Expert’s figures show that the average sum spent on a stag or hen party is £211, while for one-in-ten it’s over £250, with some even spending £500 or more.

Added together, it’s nearly £600!

Add that to what’s being spent on going to the wedding itself and the whole shebang is costing many couples’ friends and family an average of nearly £600!

Many spend even more…

A good number spend even more, with one-in-five Brits (19%) saying they shell out over £500 attending a wedding

Remarkably, at least one-in-ten spend in excess of £750, with a small but not insignificant 4% spending over £1,500.

Pressie spending pressures

It’s clear that there’s pressure to spend a fair amount on the notoriously difficult-to-choose wedding present as well, with the average spent on a gift being £61.

Many spend more than this; one-in-four buy something worth up to £74 (26%) and one-in-ten splash out over £100 on the happy couple.

And for those more involved with a wedding, such as best men, bridesmaids and ushers, the pressure to be generous is clearly even greater, with more than a quarter coughing up at least £100 on gifts.

It’s not all good news for the happy couple though…this influx of pricy gifts could push them over the limit of their contents insurance. Policy Expert offer an extra 10% on the contents cover limit on the 30 days before and after a policyholder’s wedding, but it is well worth contacting insurance companies and making sure that the contents cover is enough to cover all the new items.

Policy Expert

As an online insurer and broker, Policy Expert help our customers to compare insurance products and find a policy that’s right for them. Customer care is at the heart of everything we do and we have a dedicated customer service team on hand by phone, email, twitter and instant chat. For more information, you can call our experts on 0330 0600 600 or visit www.policyexpert.co.uk/contact for more ways to reach us.

 

Published 25 July 2017


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