A new study has revealed just how valuable the contents of a women's handbag are - which could have serious implications for many people's home contents insurance.
According to Legal & General, the value of the contents of a woman's handbag could come to £1,595, with research based on a list of widely-held items bought for mid-range prices. What's more, many people carry around things which could be termed as priceless, such as family photos, a special gift or a lottery ticket.
The most expensive items which can be found in a woman's handbag are Blackberrys (£250), iPods (£150), passes (£200) and glasses (£150). The remainder of the content value is made up by a plethora of assorted paraphernalia, including a purse, cash, a mobile phone, a notebook, a paperback book, pens, a diary, make-up, sweets, perfume, hairspray, hand cream, stamps, an umbrella, keys… the list goes on. Indeed, it is hard to believe that people can fit all of this into a single handbag - a suitcase on wheels might be more appropriate.
However, handbags themselves are also seen as a commodity, and can often cost as much as some of the contents that could soon be expected to be found in them. A survey at Lakeside shopping centre in Essex conducted this year on behalf of the Daily Express found that the average 30-year-old buys a new handbag every three months and will spend an average of between £185 and £380 on each one. Meanwhile, the world's most expensive handbag - the Louis Vuitton Tribute Patchwork handbag - is on sale at £23,484.
The fact that men are also increasingly using a bag to carry about their personal belongings - dubbed the 'man bag' - means that Legal & General has moved to urge consumers to check to see whether carrying about such valuable items affects
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their home contents insurance. Most household insurance policies cover personal possessions away from the home as an optional extra, and as a result handbags would be covered if this option was taken up.
Complications could arise, though, if the value of contents held in a handbag (or man bag) exceeds the level of cover available. In such circumstances, people who are affected by theft or misplace their possessions could find themselves out of pocket - and it could be particularly costly if they have a penchant for designer gear and expensive electrical equipment.
Disclaimer:
This article has been written for information and interest purposes only. The information contained within this article is the opinion of the author only, and should not be construed as advice or used to make financial decisions. Expert financial advice should always be sought and any links contained within this article are included for information purposes only.
