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Do you insure your LV bags?

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kali925

O.G.
Oct 22, 2006
257
7
The best answer depends on each individual policy. Give your insurance company a call to get the details on your policy. It's a great idea to take photographs and keep reciepts when possible. You'll also want to ask if you have insurance coverage for present value or replacement value of your personal property. Present value will pay the bag's current value minus depreciation, which often is not very much $$. Replacement value will pay you what it would cost to go out and buy a bag to replace the one you lost, which may be more than you paid for it seeing as LV tends to increase their prices fairly consistently. Replacement value is often the better option and is typically not a lot more expensive premium. :smile:
 

Gem0521

O.G.
Oct 3, 2006
178
0
Yea I think it depends on your own individual policy and there's also a cap of how much you can claim. I was mugged earlier this year the homeowners insurance covered my purse and items lost in it but there is a deductible in a lot of cases.
 

peacocky

Flaunt your Fringe
Dec 7, 2005
4,779
5
I asked my insurance company specifically because I love my bags like pets. He told me to take inventory of everything of value that we own (furniture, jewelry, bags, etc) so if something was to happen. He told me you can't extra insure anything.
 

andr114

Member
Oct 7, 2006
575
1
Sidoarjo, Indonesia
its not covered under home insurance, you have to get the home and content insurance to cover the contents of your home.

and you might want to declare some of the specific items (your LVs) so that they are covered at full cost. otherwise there are limits of how much you will get back for each item.

and dont worry about not having receipts, coz you can always get a quotation from LV which then you can provide to the insurance company.


i know this coz i was gonna get one, but i thought about it there is no point because i wont stay here any much longer.

hope this helps
 

twiggers

O.G.
May 7, 2006
33,070
31
Typically with insurance policies you purchase what is called a "content replacement" and you can specify how much you want (your premiums increase depending on how much coverage you have). For example...we have additional coverage of approx. 100K to replace household contents.
Your best bet is to call your insurance agent to find out what they require for replacement.
There are always exceptions to those coverages though....for example my husbands ATVs in the garage are not covered under any part of the coverage.
And some things that you cannot prove value of (like coin collections, and sports cards...typically it's collectible stuff where the values fluctuate) sometimes require specific policies.
I admit I am behind on this....I really need to go online and print out ebay receipts, etc. to prove how much I paid for some of my ebay items.
 

peacocky

Flaunt your Fringe
Dec 7, 2005
4,779
5
Oh yeah, our content replacement (which I forgot about until Twiggers said it) I think is 100K. My insurance agent said you don't have to have receipts if you don't have them. He said it's understandable if you lose them.
 

Bag Fetish

Iphone Addict!
O.G.
Mar 28, 2006
34,517
336
the land of cold!
Although I have been lucky and none of my bags have been stolen....I wonder if my bags are covered under my home insurance plan. I'm so bad at keeping receipts, I was thinking of taking pictures of all my bags "just in case". But that might take weeks! ;)

Does anyone have any perspective on this? Or has anyone had any of their bags stolen and had to deal with insurance?
I just changed my ins, and ask that same question. I was told to take pic's of my with the bags, and to try and keep the bils for them.
I explained to them that lv will not give them anything in writing that will authenticate the bags i have because its against their policy. I did show then the bills I had but what do you do with the gently used ones from tPF marketplace or ebay ?
I diidnt tell them of course but i bought any of my bags from such a place but just wanted to know the answers.

I'm covered thank god. But you should try and keep a pic of your collecion or pic's of you holding th bag. even make copies of the bills ( scan them on to the pc if you can) and put all of it on a cd and keep it in a safe place or parents house.
 

twiggers

O.G.
May 7, 2006
33,070
31
Fetish: I wonder if the ebay/tPF ones you could print out your paypal statement or for ebay if you can print out the auction page and that would suffice as a form of a bill.
I think it's better to have as many as possible (receipts and pictures)...imagine the look on an insurance agents face when you say "I have 20K worth of LV" without something showing you have a somewhat sizeable collection they'd probably laugh at you LOL
 

Lola24

O.G.
Jul 11, 2006
4,821
432
Yes, it depends on your policy but most if not all of us with homeowners insurance have "personal property" coverage. I spoke to my agent to see if I would need additional coverage and he said no because it would fall under personal property (unlike furs and jewelery which you would need a rider for) however you need to make sure you have enough coverage. I told him I also have pictures and a spreadsheet of my collection which he said was a great idea because I have more than the average person and the proof would make helpful if god forbid anything were to happen.....
 

Lola24

O.G.
Jul 11, 2006
4,821
432
Oh yeah, our content replacement (which I forgot about until Twiggers said it) I think is 100K. My insurance agent said you don't have to have receipts if you don't have them. He said it's understandable if you lose them.
Yeah, my agent said the same about receipts, but he liked the idea of my spreadsheet and pictures, though I do have a lot of receipts. At the same time though we would want to try to get "replacement" costs also, and with LV increasing so much it may be better that we don't use original receipts because it most likely wouldn't cover replacement.........I keep a spreadsheet of replacement costs that I try to continue to update....
 
Apr 4, 2006
203
1
In a boutique
Just curious as I have been really thinking about this more and more as I aquire more and more, lol.....One of the things of concern are the pieces I have that are no longer available.

I called my insurance agent yesterday and she said that they do have a special writer for other things besides jewelry and that I would need to get all of my stuff appraised.

Has anyone gone about this and what has been your experience?

Thanks in advance for your responses.

Leesa :smile:
 
Apr 4, 2006
203
1
In a boutique
It could be that my insurance agent was just looking for a way to charge me more to do something seperate. I guess to be on the safe side it couldn't hurt to take pictures of each and also get them appraised so if anything happens (God willing) I would have something for reference.
 
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