Although they haven’t been far of the title, Weddingplan now provide the UK’s cheapest wedding insurance options, thanks to the launch of ‘Essentials’, Weddingplan’s budget wedding insurance options. The policy is priced at a cool £15.49, making it the cheapest in the UK, with covermywedding now falling into second place with their 2 star cover costing £18.99

Weddingplan’s Essentials premium is designed to provide basic cover for weddings at a very affordable price. Coming in at around the price of a takeaway for two the policy provides £2,500 worth of wedding and/or reception cancellation, £1,250 re-arrangement costs and £750 failure for suppliers.

Of course, with the average UK wedding costing close to the £20,000 mark, this policy is only to provide cover for those getting married on an absolute shoestring, couples should continue to insure their wedding for what it’s worth.

According to compareaholic, one of the UK’s leading wedding insurance comparison websites:

“Although this policy is £150 cheaper than the Premier option, that doesn’t necessarily mean it’s right for your wedding. Insuring your wedding for £2,500 supplier failure means you will only have up to £2,500 worth covered. If the costs of cancellation for your wedding are more than this, you will have to make up the difference yourself.

What this is intended for is to provide couples getting married on a budget to cover their wedding and enjoy their wedding day without worrying about any other complications. Providing a policy that meets their wedding costs means these couples are paying the right amount for their wedding, rather than overinsuring it and never seeing the benefit.”

Wedding insurance is one of the fastest growing industries in the UK. According to a market report; “UK Wedding Insurance 2010”, the industry suffers a relatively low number of claims in comparison to many competing insurance industries and – as a result of the recession and increasing supplier failure – there is a growing demand for wedding insurance.

“There is a niche, although worthy, market for super-budget wedding insurance”, continues compareaholic. “Products like Covermywedding’s budget wedding insurance package and that Weddingplan’s essential wedding insurance provide couples getting married on the cheap with the right insurance to match.”