Men are carrying up to £1,000 in possessions around with them
Men's bags pose £1,000 insurance question
Tuesday, 14 Feb 2006 11:47
British men are carrying as much as £1,000 in possessions around with them, but these valuables are often not covered by insurance policies.
And specialist insurer Hiscox points out that the growing fashion for 'man-bags' in place of more traditional briefcases or putting goods in your pockets makes life easier for thieves.
Increasing numbers of, mainly professional, young men now carry gadgets and other valuables in fashionable canvas or leather satchel-style bags. While these are easier to carry and less unwieldy than the traditional boxy, heavy briefcase - they are also easier to steal.
Additionally, the advent of must-have gadgets such as iPods and camera-phones means the value of the possessions stored in these bags is higher than ever.
But many standard insurance packages do not cover possessions outside the home, leading to Hiscox recommend the country's male population consider a home insurance policy which covers all of their possessions on an "all-risks worldwide basis".
"If you’re fed up of your pockets being stuffed full of all the latest gadgetry and are one of a growing tribe of men carrying a 'man-bag' instead, or even if you prefer to stick to the more traditional briefcase or rucksack, you need to look at the small print of your insurance policy to check whether your goods are covered when you take them out of the home," said Kevin Kerridge of Hiscox.
"At Hiscox, we are seeing an increase in the number of claims from men relating to lost and stolen bags. The message is clear that these events are becoming more common and people should ensure that they have adequate cover."
Hiscox has calculated the value of the typical contents of a man-bag as follows:
Mulberry Montgomery men’s bag - £395.00
Mulberry card wallet - £99.00
Motorola V3 Razr phone - £189.00
Blackberry 7290 - £149.00
Apple iPod Video - £299.00
Mont Blanc rollerball pen - £140.00
Nikon Coolpix 5600 camera - £149.99
USB flash Drive - £25.85
Alpina Aviators - £240.00
Tiffany Round Tag screwball key ring and keys - £55.00
Thomas Pink Tie - £49.00
Dunhill leather gloves - £115.00
Paul Mitchell Dry Wax - £9.45
Total - £1,038.00