Does anyone do anything in particular for their bags for "Insurance" purposes??

  1. Just looking for some tips, I've taken pictures of all my stuff and with me holding the items, right now it's on a memory card in a safe, but I'm going to maybe burn it on a cd too. I don't have every single receipt and tag (well I may b/c I didn't throw them away, I just can't locate all of them from the past 10 years) but I figured if anything happened (god forbid:censor::throwup: ) that I would at least have proof of the items and I could go off of current pricing or worse case have LV pull my records etc. Any other good ideas?:flowers:
  2. Depending on the size of your collection, you might need a rider(s) on your insurance.

    Most homeowners policys really limit the amout of personal property you can claim due to fire, theft, etc.

    We added one when I got my first hermes ;)
    Can you see turning in the claim..."really, the purse is worth $$$."
  3. That's funny b/c when I was getting my insurance policy for my engagement ring, they said that both my ring and handbags would be covered under my homeowners insurance. My insurance agent said that I wouldn't need any pics of my bags b/c I am covered up to a certain amount of money.
  4. That's true, you just need to make sure you know how much coverage you have. Some policies it's as low as 5 or 10 thousand dollars for personal property.

    As we addicts know, it's easy to pass that very quickly.

    Oh, and you should check if you have cash value or replacement value.

    Cash value is what you paid minus depreciation and I bet the amortization table on handbags in pretty fast.
  5. I'd check with your policy/company. It might only be covered if its removed from you house. where as if fall off your finger and gets lost on the garden or stolen while being mugged it might not be covered.
  6. oh no....I think/should, last time I checked, had like $200,000 ....
  7. No, I do not do anything special. Most homeowners policies, not renters insurance, come with replacement cost on contents, so there is nothing to do. Your content coverage is usually in the range of 80% of the dwelling coverage. For example, if your home is insured for $100,000, then you would have $80,000 to replace the contents of your home. There are limites on jewelery, furs, computers, and other items.
  8. ^^ Same here - bags are like clothes, and my personal property is all part of the home insurance policy.

    The only thing I needed to get a separate rider on was jewelry. The base policy only covered $6K, which just covers my watches! We didn't bother getting extra coverage for my jewelry until I got my e-ring and wedding band... I totally recommend the jewelry rider - they're considered high risk since they're so small, you wear them daily and stones could fall out, you leave in a bathroom sink, etc...

    Bags aren't like that and should be under your house policy. You might need to increase the amount, that's all.
  9. I keep the receipts for all of my bags and jewelry and it is most definitely included into our insurance plan. I should be updating it very shortly. It's a smart thing to do to ensure you get reimbursed in case something would happen.
  10. Ok, yeah, I was thinking they would just qualify under personal property.....I guess if you have a total loss you pretty much get the amount that your covered's not like receipts, pictures and CD's will survive all disasters, even if in a safe so I suppose I shouldn't be overly paranoid about that.......
  11. Even if say you are covered for say $200,000 that doesnt mean if your house burns down they will give you $200K, you have to prove what you had. My agent said I didnt need a rider but I did need pictures of everything in my home, or he suggested takign a video of the contents of the house.
  12. ok, that's what I was looking for, I'm going to talk to my friend a little more (who is my insurance agent but him and wife just had a baby so I don't want to bother him) anyway, but do you leave that proof with your insurance company? I mean if you have a total loss tapes and pictures may not make it, even in a fire safe (they're only good for a certain time frame before the items inside are damaged too). And I would imagine pictures and stuff would be just as good as receipts, plus if I went only off receipts I wouldn't get close to what it would cost to replace everything anyway b/c I've been collecting soooo long and the prices have changed drastically since I started....I just don't have every receipt and a lot of them fade over time.....
  13. I think you're supposed to keep the documents/proof in a safety deposit box. As you've said, keeping them at home kind of defeats the purpose!
  14. When I got my Rolex insured it was like insuring my car and I needed an insurance rider. My LV collective is worth more than my 1 Rolex, so I think you should contact your insurance company.
  15. hmmm....maybe I'll look into some options, thanks for the input.....