Even if you rarely carry much cash, what with gadgets and expensive make-up items, the contents of your handbag could be worth hundreds, if not thousands, of pounds.
But would your insurance cover you if it was lost or stolen? Let’s find out.
Is my handbag covered by my home contents insurance policy?
Standard buildings and contents insurance policies usually cover valuables while you are in the house, but few home contents policies automatically provide cover for personal possessions once you step outside.
So if you want to protect your valuables and bag when you’re out and about, you will probably need to choose additional cover as an optional extra.
Are handbags covered by personal possessions insurance?
Personal possessions insurance is a type of contents insurance designed to cover your belongings when you bring them out of the home.
Many home insurers will allow you to add personal possessions cover specifically when you’re away from home to your standards policy.
It’s important to check the value limits on claims you can make are sufficient to cover the cost of replacing your valuables. Most employers have fairly low caps unless you pay extra to increase them, while you’re normally asked to inform them of any especially pricy single items.
What is handbag insurance?
A number of specialist insurance providers offer stand-alone handbag insurance that covers your bag against theft or damage, and the contents up to a limit of around £500 or £1,000.
It is possible to get designer handbag insurance that provides cover up to a much higher limit for your handbag and its contents.
You can also protect what’s in your handbag by taking out a gadget insurance policy that covers the loss of electrical items such as your mobile, tablet and laptop, if you often take them out with you.
Personal possessions cover or handbag insurance – which is better?
You can protect your handbag and its contents perfectly well either by adding personal possessions cover to your home contents insurance or by taking out standalone handbag insurance.
Personal possessions cover is often the cheaper option, but may not offer enough cover if you own a lot of more expensive items.
Handbag insurance policies, meanwhile, often offer extras such as help with cancelling credit and debit cards, or finding a locksmith, but they can impose a high excess on any claims.
Handbag safety tips
- Check your household contents policy to see if your handbag and what’s inside are covered while you are out and about
- Look into adding personal possessions cover as an optional extra to your home insurance
- Consider insuring valuable high-tech items such as a mobile phone or tablet separately, using a specific gadget insurance policy
- Avoid carrying precious items and documents with you where possible
- Make a list of all the items you carry around with you in your handbag and their estimated value, in case you need to make a claim. It’s important to be accurate with this figure, so you don’t end up paying unnecessary premiums – but can replace all your stuff should the worst happen
Compare home contents insurance quotes
Comparing contents insurance quotes on MoneySuperMarket is the easiest way to find a better deal. Just tell us a little about yourself and the possessions you want to insure, and we’ll compile a list of quotes tailored to your exact requirements.
You’ll be able to browse and compare deals by the overall monthly and annual cost and the level of cover you get, so you can find the policy that gives you everything you need. Once you’ve chosen your preferred deal, just click through to the provider to finalise your purchase.
As with all insurance products, the cheapest option isn’t always the best. We recommend aiming for a balance between cost and cover, so you can avoid under-insuring yourself or overpaying for a policy you don’t need.