Ladies, what's your handbag worth?

05 April 2011

With almost half of SA women carrying more than $500 worth of valuables in their handbag and the same percentage without the right cover, SGIC is urging women to protect this most prized asset*.

This comes with SGIC claims data showing that MP3 players, cameras, sunglasses, mobile phones and handbags were some of the most popular items with thieves in the last financial year**.

SGIC spokesperson Mariana Cidade said many women don’t have the right level of cover or even none at all, which is concerning should their valuables be stolen.

“Our survey showed that 53% of women did not have insurance cover for outside their homes, did not know what their home content policies covered and some had no cover at all.

“Many women carry so many valuables in their bag that the analogy of carrying our lives in a handbag is a real one. Not surprisingly, more than 90 of women carry a mobile phone and wallet and 65% carry sunglasses in their handbags most days. Make-up (47%), personal documents (45%) and fragrance (36%) were also carried most days.”

SGIC recommends consumers add portable valuables cover to their home contents insurance for expensive items taken out of the home.

SGIC recommends the following tips:

Always keep your handbag and valuables in view

Close your handbag to avoid falling prey to pick-pockets

Add up the replacement value of your belongings. There are websites and apps that can help, such as the Home Contents Calculator from SGIC and the Valuables Vault iPhone app, available from the App Store;

Ensure you have adequate cover to replace your valuables should they be stolen or damaged; and

Take photos of valuable items and keep proof of purchase receipts to make replacement easier.

Mobile phone$995.00
MP3 Player$329.95

* Based on a survey of 500 SA women by Pure Profile Research in February 2011.

** Sourced from SGIC claims data from financial year 09/10.

*** Based on average claim cost and popular retail items as at March 2011.