Man bags in home insurance warning

Posted : 14-02-2006

With leather 'man bags' gradually usurping men's pockets as the ubiquitous container of all essential items, the value of possessions British men carry around has soared.

British men now carry up to £1,000 worth of goods, even though most of these valuables may not covered on many home insurance policies, leaving the unfortunate victim with a potentially costly replacement bill.

Increasing numbers of young professional men now carry their essential items, such as wallet and phone in fashionable leather satchel-style bags, which provide greater carrying space than pockets and are less unwieldy than briefcases.

However, this also makes them easier to steal.

But to make matters worse, the unfortunate victim may be forced to cover the cost of replacement themselves as many home insurance policies do not cover for loss of valuables outside the home.

As a result, specialist insurer Hiscox is urging British men to take out 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."


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