Handbag insurance
When you think of all the items you carry around – phone, cash, makeup, etc. – it could pay to have handbag insurance in place. Especially if the bag is designer.
Handbag insurance is an easy way to make sure it’s protected. Here’s what you need to know.
When you think of all the items you carry around – phone, cash, makeup, etc. – it could pay to have handbag insurance in place. Especially if the bag is designer.
Handbag insurance is an easy way to make sure it’s protected. Here’s what you need to know.
60-second summaryNeed a quick overview of handbag insurance? Here are the key things to consider:
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Comparing quotes is one of the easiest ways to find the right policy for you.
You can’t currently compare specialist handbag cover with Compare the Market. But we can provide quotes for home contents insurance that could meet your needs.
Compare quotesDo I need handbag insurance?
Handbag insurance isn’t essential. But if you carry a designer bag, backpack or briefcase, it might be worth considering.
It’s not unusual for a designer bag to cost well over £1,000. And even if your bag is a high-street find, it could still be a good idea to get cover.
When you add up the value of your glasses, makeup, and gadgets, for example, the cost of replacing it all if your bag is stolen or damaged could mount up.
What type of bag insurance do I need?
This depends on what cover you already have. Your home contents insurance normally covers your handbag while it’s at home. Although if it’s an expensive one, you may need to list it individually on the policy.
Check to see if your contents insurance also covers your handbag and what’s inside it when you’re out and about. If not, you might need personal possessions insurance.
Remember to check the policy limit to make sure you’d have enough cover to replace your bag and its contents if it was lost or damaged away from the home.
Standalone handbag insurance is also an option, although this is designed for very expensive handbags or bag collections. You can’t currently compare quotes for standalone handbag insurance with Compare the Market.
What do I need to know when considering handbag insurance?
If you’re adding handbag cover to your home contents insurance, here’s what to be aware of:
- Check the excess – the amount you’ll need to contribute before your insurance provider pays out any claim. If the excess is more than the cost of replacing the bag, it won’t be worth claiming.
- Check for exclusions – for example, items stolen while on display in the front seat of your locked car will likely be excluded from your personal possessions insurance.
- Keep proof of purchase – it’s worth keeping a receipt or credit card statement for all high-value purchases. You might need this to make a claim on your insurance.
What’s the single-item limit for insurance policies?
A single-item limit – sometimes called a ‘single article’ limit – is the maximum your insurance provider will pay out for any one item. Unless you list that item, and its value, separately on your policy.
The limit is likely to vary between insurance providers. When you get a quote with us, we’ll ask you for details of any valuables worth more than £1,500.
If your handbag, or anything inside it, is worth more than that, you’ll need to tell us. We’ll be able to add it to your policy as an individual item.
What our expert says...
“Handbags are among our most prized possessions, so it pays to check whether they’re covered by your insurance, especially when you go out. If you’ve received an expensive quote, you could save money by shopping around.”
- Anna McEntee, Home, pet and travel insurance expert
What do I need to get a quote?
Although we don’t compare specialist bag insurance, we do compare home contents insurance that could cover your handbag.
When you start a contents insurance quote with us, we’ll ask you:
- Details about items worth more than £1,500
- Whether you want to insure a bicycle worth £350 or more
- How much personal possessions cover you’d like
- Whether you’ve made a contents claim in the past five years
- Details of your property’s security and the type of locks it has.
Once we have your details, we’ll provide you with a list of suitable quotes. This will also show optional extras, including personal possessions cover and accidental damage insurance.
What should I do if my handbag is stolen?
First, call 101 and report the theft to the police. What you do next depends on what was in your bag:
- Bank and credit cards – cancel all cards as soon as possible.
- Mobile phones – call your phone provider immediately and block your account and handset.
- ID cards and passports – contact GOV.UK for passports and the DVLA for driving licences. If your work security pass was stolen, tell your employers.
- House keys – consider changing your locks, especially if your address details are in your handbag. If car keys are stolen, contact your car insurance provider.
Before raising a claim for the stolen bag, make a note of the valuables that were inside it. This will make things easier when you speak to your insurance provider.
Frequently asked questions
If my handbag’s stolen, are my gadgets covered?
This depends on what your home contents policy includes. Some policies automatically include gadget cover, others consider this an optional extra.
Check your policy details to see if you’re covered.
Is my handbag covered for accidental damage?
More than likely, no. Standard contents insurance doesn’t generally cover accidental damage to your handbag.
To make a claim, you’ll need to pay a bit extra to add accidental damage cover to your policy.
Is my handbag covered for wear and tear?
Most insurance policies won’t cover a handbag for wear and tear. Bags age naturally over time and deteriorate the more you use them.
Handbag insurance is designed to protect your bag from loss, theft or damage, rather than the natural ageing process.
What if my handbag is stolen from my car?
If your handbag is stolen from your car and you have personal possessions cover with your contents insurance, you’ll be insured. Unless your car was unlocked and/or the bag was left on view.
If your home insurance policy doesn’t include that level of cover, check if you have possessions cover with your car insurance. Some policies cover belongings up to a certain value if they’re damaged or stolen from a car.
How can I keep my handbag safe?
To reduce the risk of having your bag stolen:
- Never leave your bag unattended
- Don’t leave your purse or phone in the outer pockets
- Avoid hanging your bag over the back of a chair in a restaurant, bar or café
- Carry your bag across your chest with the fastening facing you.
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Anna McEntee – Home, travel and pet insurance expert
Anna’s all about delivering fantastic insurance products at a great price. Value is the most important thing for Anna, as she cuts through the jargon and finds what’s most important and worth your hard-earned money.