I'm not sure if there is a thread on this, but how do you take care of your designer handbag collection by way of insurance? I'm in Aust and I have a sizeable collection yet have nil insurance as I've always lived in very secure apartments so never even thought about it. But I've recently moved to the suburbs and got broken into but luckily my bags were still at my old apartment safe and sound! Please share your methods!!
I know that here in the US, you can "schedule" items separately on your homeowners insurance policy if necessary. Handbags fall under the personal property category, so as long as your limits are high enough, they would be covered in the event of loss. I would, however, recommend taking pics or video of your collection and store in a safe place so that you can show proof of your items. Hope this helps.
Good point ! I'm also in Oz and have been thinking the same thing. Mind you we're looking at changing our ins company, because when I lost a very special ring last year we discovered we weren't coved for accidental loss :( def have to ask around .
I'n in Chicago, IL and my State Farm agent told me thatmy LV purses are specifically excluded from my homeowners policy. As BB33 mentioned, I could add them under s specific personal articles policy. I decided that the cost of the policy wasn't worth it.
You need a contents policy that covers you for accidental loss and accidental damage, anywhere in Australia/NZ. You need to have enough sum insured that you will be able to replace all your contents, including all your handbags, at today's prices- brand new. It doesn't matter how old your contents are, you want to be able to replace them with brand new items. You also need to be sure that your handbags are covered as contents items, not "valuables" or "special items" or similar. You need to make sure that the item limits for your handbags are high enough that you don't need to specify the bags individually.
I'm really concerned that you don't currently have insurance, because you live in a high security apartment. This may be ok in terms of burglary, but what about fire? r earthquake? how would you replace all your clothes, bags, shoes, furniture etc etc if a fire burnt your home down?
I have several LV's, Chanels, Hermes including a Birkin that would cost $12000 to replace, and my contents insurance covers them all, without having to specify any of the bags. If you want more information, pm me. (hint: I work for an Aussie insurance company).
The main reason why I got home & contents insurance is because of my handbags. If you are renting, you get her conents only insurance. Make sure you have pictures of your lovelies. I scan all of the reciepts & have a collection of photos too :) most major insurers will have contents insurance. I went for Suncorp.