Insurance useful to cover 4.9 billion GBP in handbag losses

Losing their handbag or having it stolen is costing British women £4.9 billion every year, reveals new research by a home insurance provider .

A survey conducted by Churchill Home Insurance found that one in three women have lost their handbag and 31 per cent have had their bag stolen at least once.

The loss of a handbag causes women to waste a considerable amount of time cancelling credit cards or getting new keys cut. And if not covered by an insurance policy, it can also hit their wallets hard with the average handbag and contents costing £228 to replace.

The theft or loss of a bag can cause a woman no end of problems, stress and worry, commented Abi Clark, spokesperson for Churchill Home Insurance .

We carry a lot of value in our bags and it can take substantial time and money to cancel credit cards, have new home and car keys cut and replace lost luxury items too, she added.

Women were found to most likely have lost or had their bag stolen in a bar or pub, when at work or on holiday .

Concerned handbag owners might be able to give themselves some peace of mind by checking their home insurance policy .

A standard home insurance policy might not cover for theft or loss of belongings taken out of the home, but sometimes there are additional forms of cover on offer to insure your handbag and its contents.

For instance, Churchill Home Insurance offers their customers the option of including personal possessions cover to the standard home insurance policy, to cover loss or theft of items such as mobile phones, MP3 players, credit cards or glasses .