Some women should consider insuring their handbags

There are many different belongings and items that consumers insure these days against loss or theft, but until now handbags have not been an item to be commonly insured. However, according to a recent report many women these days may want to consider insuring their handbags considering that the bags and their contents could be worth thousands of pounds.

Over recent years a rising number of women have started spending a small fortune on handbags, and with so many well known designers offering a range of handbags, and so many A list celebrities sporting them, women all around the country are keen to get their hands on the latest Prada or Gucci handbag to show off their style.

Some women are prepared to spend hundreds of pounds on a handbag. Figures show that more than 10 percent of women have spent more than £500 on a bag, and around a third of women have spent between £150 and £500. With money like this being spent on the humble handbag some women may want to consider the financial loss they would experience if they bag was stolen or lost.

On top of this the value of the items that many women keep in their bags has been rising, and can sometimes amount to hundreds of pounds worth of goods or more in some cases. This includes expensive designer make up, high tech mobile phones, and of course their cash and cards, all of which can add up to a tidy sum.

One insurance specialist said: ‘Insurers usually allow policyholders to add personal possessions cover away from the home on to a standard home contents policy. This will usually work out cheaper than specialist bag insurance – and it would cover all items, not just your handbag.’