Valuable Articles Insurance

  1. :shocked: I am wondering how many of you insured your Hermes bags... I called home insurance company. Home insurance is going to cover on only for if they were gone because house was on fire or something... If I want additional coverage for stolen/ lost or damage, I should buy another policy just for the bags. My two ostrich Birkins will cost $508/year:shocked: :shocked: :shocked: !!! Is it worth buying it? I am scared of loss or damage... But $508/year for both ostrich Birkins? In ten years, I can buy another kelly with that money. I don't know... What should I do? Any better options? PLEASE!
     
    ittybitty likes this.
  2. Try another ins. Company. Mine will insure anything that is on your person and lost or stolen, up to 10% of the total amount covered for your personal property (which is substantial.) That would cover any bag/s I'd happen to be carrying or traveling with. I only have separate policies for my jewelry.
     
  3. Thank you Greentea!
     
  4. Greentea, which insurance company do you use? I called around insurance company, and all of them ask for additional payment of few hundred dollars...
     
  5. You should have insurance to cover the value of all your belongings. Just include the value of your purse in that total. Then keep your receipt. I actually had Hermes write an appraisal letter I put in my file.
     
  6. Aspen, I pm'd you. :smile:

    The one thing with not having a separate policy for your bags and using the Personal Property section of your home insurance, is that you do have to pay a deductable for each claim. But, considering the cost of a new Birkin or Kelly, it's not that much and would turn out to be less than paying for a sep. policy after a few years.
     
  7. I have been thinking about this issue ever since I bought my kelly and now that I have prchased this other bag...I think I might need to consider getting it.
     
  8. hey everyone, was just wondering if any of you have your precious H bags insured for safety reasons....since you never know....like the possibilities of it getting stolen, damaged, or the worst is not being able to get it replaced if something really really bad happens...(of course, hoping that H bags are durable enough to where nothing could happen) lol....well, i have my bags insured so that i feel more secure and confident!! especially when they're so expensive....it's important to takecare of them to the best of my ability....:tup:
     
  9. I agree!! everything is insured:yes:
     
  10. yup it just gives peace of mind :yes:
     
  11. I would definitely insure a Hermes (or any other luxury brand handbag),
    they're too expensive not to.
     
  12. I specifically called my insurance agent after I started getting into croc because the value of my collection is starting to get out of control. He stated I didn't need a specific policy for them that my home owners policy will cover it but he did tell me to take pictures.
     
  13. I haven't done it. Thanks so much for the reminder. I certainly like the peace of mind.
     
    amandakhs likes this.
  14. What sort of policy would that fall under? Homeowner's or renter's insurance if god forbid, your bag is stolen from your home? Car insurance if your bag is stolen from your vehicle? Just curious :smile:
     
  15. Hire an expert appraiser to do a thorough picture/text appraisal of each piece, then submit to your insurance agent and request an additional rider on your policy.

    My ins. agent told me my homeowner's would suffice, but they just don't get the prices of these pieces. When I began to break it down to him, exact prices I mean, he coughed and said an additional rider on my policy would be suggested.

    For pre-owned bags, etc., find an antiques or estate appraiser if you can't find an Hermes expert and provide them with pics, text, and some "proof of prices" (websites, those Japanese booklets are a start, receipts if applicable, etc.). After they look at the collection they'll put together a detailed appraisal. Submit it to your ins. agent, request the additional rider, then you're covered. The appraisers suggest doing it regularly (as prices increase, since recovery is at current prices).

    HTH