Do you insure your LV bags?

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Jun 8, 2006
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Ok, so we have all insurance on homes, etc. Has anyone ever obtained special insurance for these babies? Or do the depreciate in the eyes of insurers? I remember when my bf purchased my Ipod. He made me insure it! They actually wrote up a special rider. Was just wondering about handbags. This is hurricane season ( and tornado season), you know.:hrmm: Just wondering.
 

H_addict

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I think my agent told me once that as long as I have all my bills the bags are covered under my home contents policy.
 

gloss_gal

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Good question. I know there are some apartment dwellers who ma not have renters insurance. So a home insurance policy can be used?
 

H_addict

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gloss_gal said:
Good question. I know there are some apartment dwellers who ma not have renters insurance. So a home insurance policy can be used?
I know it can be used in Canada.
 

Swanky

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it's part of our Homeowners policy. I video'd our home and walked from room to room to documne thte contents and the tape is in a fire safe box now. Just in case!
 

Lvbabydoll

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I think my parents' homeowners covers them too but I'm not sure. I know we have documentation of each bag (receipts, pictures) though...when the value of your collection is nearly that of the price of a luxury car, I'd be sure to have things insured.
 
SwankyMamaof3 said:
it's part of our Homeowners policy. I video'd our home and walked from room to room to documne thte contents and the tape is in a fire safe box now. Just in case!
YES.. Me & DH did that to..We have a music studio in our home (its my DH of course)plus he has about 20 guitars etc. and we video'd all his stuff and all my bags and I have all receipts and print out any ebay bags that I win...Our homeowners insurance covers this BUT we can take another rider if we want but I think we are fine for now
 

gloss_gal

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So as you add bags to your collection, you update the tapes? This has me thinking. I'm in DC I have to check my policy.
 

evolkatie

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Yup, I remember last year with Katrina when I evacuated I took my bags with me but I also remembered to videotape them. =)
 

Swanky

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gloss_gal said:
So as you add bags to your collection, you update the tapes? This has me thinking. I'm in DC I have to check my policy.
nah, we update it like once a year. I'm not a collector really so it changes very infrequently. Usually I sell something to buy something so the 'bottom line' doesn't change too much anyhow.
 

lulilu

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I asked my insurance agent a year or so ago, and she said they were covered under my regular policy. I also keep receipts and print out any ebay listing for bags purchased on ebay. (She did sound like she thought I was crazy for asking, though.)
 

Daniellejp

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If you have a homeowners policy, you should have "contents" coverage, which generally means all your stuff-- your t.v., furniture, pots and pans, clothes, handbags, etc. Most homeowners policies automatically cover your contents for 40%-75% of what your home is insured for (depending on your carrier.) For example, if your policy goes with the 75%, and your home (your dwelling) is insured for $200,000, your contents will be given a blanketed value of $150,000. Most of the time, they will pay out the actual cash value of your contents, which is the replacement cost minus depreciation. Some carriers offer the replacement cost option for extra premium. If there's a fire and your handbags are ruined, they will want you to produce documentation/receipts/invoices to show how much your items cost. If you're looking for better coverage for your handbags, jewelery, or other high valued items, ask your agent for endorsements or floater policies that will pay out the replacement cost of those items-- not their depreciated value. They'll ask you to create a schedule, or an itemized list of your stuff, with serial #s, receipts, and/or appraisals (if you have them.)

Renters policies also offer coverage for your contents, but you can pretty much choose whatever limit you want. It isn't based off a percentage of your home because you aren't insuring the home. It will give you liability coverage (for when a neighbor accidentally slips and falls in your living room which isn't your fault, but the law says it's your fault... LOL) and contents coverage (for your stuff.) They also usually include some medical payments coverage, property of others coverage, and additional living expenses coverage. Renters policies are a very smart thing to have!

I hope that wasn't too confusing. :biggrin:
 
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