Handbag insurance 

Handbags are a place to keep valuables, and are often valuables in and of themselves. Handbag insurance can ease the pain by covering you for the repair or replacement costs involved when the unexpected happens.

What is handbag insurance?

Depending on the policy, handbag insurance can cover the value of your handbag itself, plus what's in it, when you're at home and when you have the bag out with you.

The handbag-relevant scenarios you can be insured against include (among others) theft and fire, storm and water damage.

How can I get cover for my handbag?

There are several ways to insure your handbag, at home and when you're out with it.

Contents insurance
Contents insurance can cover your handbag against lots of insured events, including (crucially) theft.

A straight contents policy will only cover the handbag when it's at the insured address. Because they're made to be taken with us just about everywhere, handbags are a good candidate for portable contents insurance (sometimes called personal effects cover), an optional add-on that will cover your handbag when you have it out with you. Like a contents policy, it will generally allow you to specify the value of items that are worth more than a certain limit (e.g. $1,000).

Home and contents insurance
Did you know that you can insure your handbag with a home and contents insurance policy? If you already have a policy, check to see if your handbag is covered, or you could always switch policies and get one that includes insurance for your handbag.

With home and contents insurance, your handbag will get all the protection straight contents insurance offers, plus cover against damage to your home in general in a long list of insured events.

You can also add personal effects cover to your home and contents policy so that your handbag is covered outside of your home.

Single item insurance
If you have an expensive handbag that's the only thing you want to insure, or one of a few things you want to insure, you could think about single item insurance, which offers similar levels of coverage to other policies but only for selected items.

It can be a cost-effective solution for people in some circumstances, for example, renters.

You should be able to take out portable contents cover as part of your single item insurance policy, too.

Compare handbag insurance in Australia and get a quote

Here's the bottom line:
Your handbag doesn't have to be a Hermès to be valuable. Home insurance can protect your handbag and what's in it whether you're at home or on the go.

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Name	Product	Handbag	Jewellery	Portable Contents Cover	Accidental Damage to Home or Belongings	Fire, Storm & Theft Damage	Online Discount
Budget Direct Contents Insurance			$5,000	20% of your contents sum insured	Optional			Get 15% off your first year's premium when you buy a Budget Direct Contents insurance policy online. T&Cs apply.	Get a quote View details	Compare	loading Fetching your data...
QBE Contents Insurance Green Company			$1,500	Optional	Optional			Save 10% on your first years’ premium with QBE Contents only Insurance.	Get a quote View details	Compare	loading Fetching your data...
Virgin Contents Only			$1,000	20% of your contents sum insured	Optional			Save 15% on your first year’s premium when you buy a new eligible Virgin Contents Insurance policy online. T&Cs apply.	Get a quote View details	Compare	loading Fetching your data...
Qantas Contents Insurance			$5,000	Optional	Optional			Earn up to 20,000 Qantas Points when you apply. Points awarded will be based on your premium. T&Cs & exclusions apply.	Get a quote View details	Compare	loading Fetching your data...
Huddle Comprehensive Contents Insurance			$5,000	Optional				Save up to 10% on your policy in the first year.	Get a quote View details	Compare	loading Fetching your data...
ANZ Contents Insurance			$3,000	25% of your contents sum insured	Optional			Get a quote View details	Compare	loading Fetching your data...
Domain Contents Insurance			$5,000	Up to specified Value				Domain Insure uses property data to help build your quote faster.	Get a quote View details	Compare	loading Fetching your data...
Seniors Top Contents Insurance			$5,000	Optional				Buy online and save up to 20% on a new contents insurance policy. T&Cs apply.	Get a quote View details	Compare	loading Fetching your data...
Real Top Contents Insurance			$5,000	Optional				Save up to 10% when you purchase cover online.	Get a quote View details	Compare	loading Fetching your data...
Youi Contents Insurance			Optional	20% of your contents sum insured	Optional			Get a quote View details	Compare	loading Fetching your data...

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How do home insurers in Australia cover handbags?

Just like other valuable items. If you have a high-value handbag, you might need to specify it in your policy to increase the upper limit it's insured for.

As always, you should check what you'll be covered against, and to what amount, in the relevant parts of a policy's Product Disclosure Statement (PDS). Here are some examples of how brands explain cover in their PDS.

Brand	PDS Wording	$ Limit	Option to increase the limit?
	You are covered for the following items as unspecified personal effects: • handbags, briefcases, wallets, clipboard folders, suitcases, and other travel bags but not their contents unless the contents are also listed here and covered by your optional Personal Effects cover stated on your Insurance Certificate	$1,000
	Additional cover for personal valuables anywhere in the world. Add optional Personal Valuables cover* for precious items such as jewellery, watches, handbags and laptops at home and anywhere in Australia, or worldwide for up to 90 days.	Not shown
	You are covered for the following items as unspecified personal effects: • handbags, briefcases, wallets, clipboard folders, suitcases, and other travel bags but not their contents unless the contents are also listed here and covered by your optional Personal Effects cover stated on your Insurance Certificate	$1,000

Do I need handbag insurance?

When you think about all the things you've carried around with you in your handbag over the years (smartphones, purses, camera, sunglasses, etc), their value adds up.

We're lucky to live in a society where bag-snatching isn't a common occurrence, but thieves all over the world are drawn to handbags, for obvious reasons, and will probably continue to be.

Losing an expensive handbag (and its contents) in a theft, fire or water damage situation can be a hard pill to swallow.

If calamity strikes, though, you'll be better off with handbag insurance than without it.

Can I get cover for my handbag if it's really expensive?

Yes, but be sure to check the maximum amount the insurer pays out for handbags and to specify the value of your handbag in your policy if that value is higher than the sum insured.

What's covered by handbag insurance?

Home insurance can cover your handbag in surprising ways. Here are some examples of when you can be covered:

• With the portable contents cover or specified items cover, you can be covered for theft, loss or damage to your handbag when you're out and about from home.
• Some policies will also cover you for theft, loss or damage when you're overseas for a limited time.
• If your handbag is destroyed in a house fire.
• If your handbag is damaged by escape of liquid, storm or flood.

What's not covered?

For most insurance policies, there are some instances where you won't be covered, these are called general exclusions. Here are some reasons why you might not be covered:

• You fail to take care and lose your handbag.
• General wear and tear of your handbag.
• You choose to opt out of additional cover like accidental damage or specified items.
• Damage is caused by pests or mould.

Picture: GettyImages