Handbag insurance ?

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No, unless they are exotic Birkins, I don't think they're valuable enough to be worth the trouble -- for me, personally. I only own Chanel bags which range from $1,500 - $3,000... it's just not worth the hassle from my point of view. I own dresses which are as much money and I don't insure those either, so why bother with the bags...
 
No, unless they are exotic Birkins, I don't think they're valuable enough to be worth the trouble -- for me, personally. I only own Chanel bags which range from $1,500 - $3,000... it's just not worth the hassle from my point of view. I own dresses which are as much money and I don't insure those either, so why bother with the bags...

It's worth the hassle if your bag gets stolen and then your insurance company won't pay out because the maximum single item is only $500!! You need to find out what they will pay for a single item

I just added my Birkin as a named item on our insurance policy and had to send them a copy of the receipt.
 
The real question here is:

Do I carry enough contents coverage in my homeowner's policy?

Your homeowners will cover contents automatically but unless you specificially ask (or if your agent is real good like mine) it's for a certain % of the replacement value your home. And (usually) that % is barely enough to cover what you'd lose in a total loss house fire.

I had my contents coveraged raised to match the value of my home. In the grand scheme of my insurance cost it's pennies a day. I do have serial #s and pics etc of our big ticket items ...and as long as you have those on file if you did suffer the horror of a total loss you should be covered.
 
My insurance agent and I talked about this. I have rentor's insurance right now and it covers my bags, clothing, etc. What I like is it also covers them when I travel! So I'm not so stressed about checking my luggage anymore. She said that I should keep receipts and get some rugs that I have appraised. I haven't done that yet and as for receipts I figure if a bag is more than a few years old (and not Hermes) it has probably depreciated so much that I'm not going to be much in terms of replacement cost. I also have separate insurance for my jewelry.
 
It's worth the hassle if your bag gets stolen and then your insurance company won't pay out because the maximum single item is only $500!! You need to find out what they will pay for a single item

I just added my Birkin as a named item on our insurance policy and had to send them a copy of the receipt.

even though you have receipts though the adjusters always account for depreciation. thats where they get you. you have to read all the fine print with these companies. they always pull some loophole out of their behinds when you file a claim. we just went thru this with our vacation home and replacing windows that were vandalized. it was unbelievable.
 
even though you have receipts though the adjusters always account for depreciation. thats where they get you. you have to read all the fine print with these companies. they always pull some loophole out of their behinds when you file a claim. we just went thru this with our vacation home and replacing windows that were vandalized. it was unbelievable.

I agree... it's really not easy to recover money. After all, insurance companies aren't truly in the business of bailing us out: they are, like everyone else, in the business of profiting for themselves. From what I understand, it's rather a hassle to get your bags insured in the first place. You need to provide receipts (none of which I bother keeping), take photographs, etc. And I cannot imagine what it would be like to try and recover money after a theft... must be like pulling a tiger's teeth.
 
even though you have receipts though the adjusters always account for depreciation. thats where they get you. you have to read all the fine print with these companies. they always pull some loophole out of their behinds when you file a claim. we just went thru this with our vacation home and replacing windows that were vandalized. it was unbelievable.

Things are very different over here. We have what's called new for old insurance and you recoup the current market vlaue for your item and they increase the value of the items in line with inflation every year.

For example, when I first got my Rolex insured it was put on at what I paid for it but it's now on there with a higher value as the price has increased over the years
 
Things are very different over here. We have what's called new for old insurance and you recoup the current market vlaue for your item and they increase the value of the items in line with inflation every year.

For example, when I first got my Rolex insured it was put on at what I paid for it but it's now on there with a higher value as the price has increased over the years

thats wonderful. but I think a Rolex is different in the eyes of an insurance company than a handbag. I would be curious to know if anyone over there could attest to this?
 
^^^ Yes I can, I just put my Birkin on there and it works exactly the same way. All I had to do was send them a copy of the receipt and it's also fully insured when I am out of the home, so if my bag or watch were stolen I would be covered
 
^^^ Yes I can, I just put my Birkin on there and it works exactly the same way. All I had to do was send them a copy of the receipt and it's also fully insured when I am out of the home, so if my bag or watch were stolen I would be covered

and again, as I stated before, I believe Hermes to be the exception to the rule. I don't think any of my Balenciagas, Chanels or even LVs would get the same consideration. In the US anyway. :sad:

also what I was really asking is if anyone has collected insurance on a stolen handbag - not just had them insured. an agent will insure anything. its the collecting on it that I'm curious about.
 
Hello, I'm an insurance agent who's also a purse lover. I wanted to pass along to you for those who may not know that you should insure your high end handbags (ones in the thousands). I have a Chanel lambskin bag that I paid $2000 for and thought to myself, "If it were stolen, could I easily replace it?" No, not really. You may think you already have homeowners or renters insurance but if it's not "scheduled", your deductible applies which is probably higher than your bag or just not worth it to turn in a claim. It is very inexpensive to do this (literally, a few bucks a year) and no deductible applies for ANY loss.

Just a thought.

PS Renters insurance is super cheap. Let me know if you have any questions.
 
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