Leeds, West Yorkshire, UK, May 11, 2012 -- Figures released this week by CompareWeddingInsurance.org.uk reveal that in the UK the average cost of a wedding has continued to decline, dropping to the lowest figure for several years. The figures show that the average cost of a wedding in the UK is now around just £14,500, which is a significant decrease of 10% on figures from 2011. These figures are based on a survey of over 1,600 wedding insurance policies purchased to cover weddings taking place in 2012.
The total figure on average being spent on a wedding in the UK is now £14,441, which includes approximately £3,000 being spent on the honeymoon. This means that the basic cost of a wedding is £11,441, of which the biggest expenditure is the reception, costing up to around £4000. Other major purchases include the bride's dress, the flowers and the photographer.
The figures gathered by CompareWeddingInsurance.org.uk show that the average sum those couples based in London are still spending on their wedding is considerably more than the national average, with up to a 42% difference. Conversely those in the north of England are spending up to about 12% less than the UK average. At £12,666 the lowest cost weddings in the UK are currently in Northern Ireland.
Managing Director, Adam Leyton said, 'Whilst it is good to see that in spite of the increased financial pressures many people are still choosing to celebrate their wedding in style, what we are seeing is a growing trend towards either more savvy shopping, looking for the best deals available, and even exploring DIY options where feasible.'
As the U.K.'s economy continues to shrink and families experience growing financial pressure, it is not unsurprising that the average cost of a wedding continues to decline. However, it would also seem that couples are increasingly taking added precautions such as purchasing wedding insurance policies, and doing so much earlier than in previous years.
With many scare stories appearing both in the news and online about weddings which have had to be indefinitely postponed because of major service providers going out of business at the last minute, purchasing a suitable wedding insurance policy is now an essential part of planning a wedding. With a basic policy costing as little as £20 and covering almost every aspect of the wedding, it is reassuring to see more people protecting what is often one of the most expensive purchases of their lives.
'One of the myths we have come across in talking with our customers is that should anything go wrong their existing policies such as health insurance, home insurance and credit card protection insurance will help to cover any unexpected costs or losses,' said Mr Leyton. 'Unfortunately this is not true, and the vast majority of the money committed to planning a wedding is still very much at risk unless an appropriate wedding insurance policy has been purchased.'
More information on the study and the regional breakdown of wedding spend across the UK can be found on the website:
www.compareweddinginsurance.org.uk/articles/average-cost-uk-wedding
www.compareweddinginsurance.org.uk/articles/average-uk-wedding-spend-by-region
Established in 2009, CompareWeddingInsurance.org.uk is the UK&'s leading wedding insurance comparison website and helps provide couples with an easy comparison of products from a range of major insurance providers. For more information contact Adam Leyton on 0113 350 8515, or email info@compareweddinginsurance.org.uk.
About CompareWeddingInsurance.org.uk:
Established in 2009, we offer a wedding insurance comparison website for comparing prices and cover provided by a range of UK wedding insurance providers.
