Weddings hit by the recession

Whilst nearly 25% of us will go to a wedding this year, weddings are being hit by the recession with guests spending less on presents and personal loans being used by many to cover wedding costs.

Of those going to a wedding, according to LV=, 25% feel they cannot afford to spend as much going buying gifts as they would have done before the recession.

And 24% don’t think the bride and groom expect them to spend as much either.

Wedding presents though will still cost an average of £50.

Interestingly as part of trying to save money on weddings, many bride and grooms are planning to have their wedding abroad.

Some 2.8 million adults have been to a wedding abroad over the last 18 months, and a further 1.4 million plan to go to one over the rest of 2009.

Managing director of LV= home and travel insurance, John O’Roarke, said ‘People planning on attending or holding their own wedding in the UK or overseas, should have travel insurance in place so that if they do have to change their plans at the last minute they won’t be out of pocket.’

If it is your wedding you’re planning, don’t forget to consider buying wedding insurance. Premiums start at around £30 and it could give you the peace of mind to know that if something disasterous happens that you have insurance to cover you.

Often wedding insurance providers will offer differing levels of cover to suit your requirements and may also offer optional extras.

You can buy wedding insurance online quickly and easily from many providers, including Debenhams, Marks and Spencer, Weddingplan and Greenbee.