Losing a handbag can be devastating. Even if the bag itself isn't massively valuable, it's often going to contain any number of often costly essentials like your phone and your purse. Having the right insurance can therefore be a lifesaver.
Often, your handbag will be covered by your contents insurance policy, especially while you're at home, but it can often be worth extending that cover if your handbag is particularly expensive, or if you want protection for while you're out and about.
In This Guide:
How can I get handbag insurance?
There are basically two ways to insure your handbag.
There are specialist insurers that will provide cover specifically for your handbag. They primarily cover it against damage or theft, but some also provide cover for the contents up to an agreed limit. This is typically up to £1000, but it can vary depending on your policy provider.
If your handbag is particularly expensive, you can purchase policies from specialist designer handbag insurers. This kind of policy is only offered by a few insurers, and it will have a much higher limit on how much you can claim in the event of damage or theft. Naturally though, this kind of cover will be more expensive.
Home contents insurance with personal possessions cover
As an alternative to standalone handbag insurance, your handbag may be covered on your home insurance personal possessions cover. Whether either of these apply to you depend on your circumstances, and whether you need your handbag covered in the home, or when out and about.
If it's not covered as standard, you can add high value items to your cover individually. Usually this applies to items worth £1,000 or more.
Cover for inside the home
If your handbag is stolen from your house, it will be covered like any other of your possessions by a contents insurance policy.
Most home insurance policy providers will cover your valuables when in the house as standard. As with most insurance policies, there is an upper limit of what your provider will be willing to pay-out when you make a claim .
If you own a particularly expensive handbag, you may have to take out a more comprehensive policy, or even a completely new policy that lists your handbag as a separate item. You may already have this option available if anyone in your home has insured an expensive gadget, for example a laptop.
Most home insurance providers will ask you to provide them with a list of valuables when you sign up for a policy. A failure to declare your handbag may well mean that you will not be able to claim for it should anything happen.
Cover for outside the home
When you're out and about, cover for your handbag works slightly differently.
One option to get cover is personal possessions insurance. This is offered by certain home insurance providers as part of your standard home insurance policy, and extends cover to the same possessions when you're out of your house.
Generally, if your handbag and its contents are worth more than around £1,000, personal possessions insurance may not cover it as standard. It's worth checking your policy documents and letting your insurer know. This will help you to ensure that it's covered.
If you do have a more expensive handbag, or carry expensive items around with you, another option is to get specialised handbag insurance. Whilst this is usually more expensive than personal possessions insurance, it will cover more expensive items, and can offer extra services, for example help with cancelling your credit and debit cards. It's worth noting however that this kind of insurance can impose a high excess on claims, and high premiums along the way.
You can also insure your handbag under other policies. For example, some car insurance policies can cover your personal belongings that are stolen from your car, or damaged when inside it. Car insurance providers will usually insist that valuables must be hidden and locked away in your car, or the policy could be void.