Handbag treasure troves

One third of Aussie women in the dark over the value of their handbag contents

A new survey commissioned by insurer GIO [1], has revealed that almost one third of Australian women have no idea how much it would cost to replace their handbag and its contents if it was lost or stolen.

"While four out of five women agree they would never leave the house without a handbag, our online survey shows almost one third have no idea of the value of what they have hanging over their shoulders," says GIO Executive Manager, Shaun Feely.

Over 2,200 Australian women were surveyed online about the everyday items they regularly carry in their handbags.

Of those surveyed, 94 per cent said that they carry a wallet or purse and 88 per cent carry a mobile phone every time they take their handbag out of the house. Other items regularly stowed in Australian women's handbags include beauty tools, cosmetics and perfume (75 per cent), designer sunglasses (59 per cent), digital cameras (35 per cent), iPods (25 per cent) and jewellery (20 per cent).

"Individually these items may seem relatively inexpensive, but when you add up the cost to replace even just the basic items, such as your wallet, handbag and mobile phone, you're suddenly looking at hundreds of dollars," said Mr Feely.

This unexpected expense is something that few women have considered, with 32 per cent of those surveyed admitting they have no idea what the contents of their handbags are worth. A further 22 per cent of respondents believed they were carrying more than $250 worth of personal property in their handbags; 19 per cent estimated at least $500 worth; and 10 per cent estimated the contents of their bag to be worth over $1000.

"I think women would be surprised at the true value of their handbag contents and would struggle to cover the cost of replacing all the items in one go if it was lost, stolen or damaged," said Mr Feely.

"While replacing credit cards and contact details can be annoying, the cost to replace a handbag, wallet, sunglasses, mobile phone and an MP3 player could easily add up to thousands of dollars."

Additional research conducted by GIO through Newspoll^ found that as many as 35 per cent of Australians did not know that they could insure the valuables that they carry with them on a day-to-day basis. [2]

"What many people don't realise is that all the items regularly taken out of the home such as a handbag, sporting equipment or musical instruments can be covered as part of your home and contents insurance," continued Mr Feely.

Portables Cover is often available as an optional extra on home contents insurance policies allowing people to cover personal items that are taken out of the home on a regular basis against accidental loss or damage. While pricing can differ, women may be able to insure their handbag and its contents for as little as $2 per week for up to $4,000 worth of cover.

"Women often joke that they can't live without their handbag so it's good to know that for less than the cost of a chocolate bar a week, you can protect your valuables whether you are at home or on the move," says Mr Feely.

Visit www.gio.com.au for more details on how to insure your home, contents and portable valuables.

Survey Quick Facts:

* 81 per cent of women surveyed always take a handbag or purse with them when they leave home.
* 17 per cent of Australian women surveyed own 10 or more handbags.
* 32 per cent of women surveyed do not know how much the contents of their handbag would be worth.
* Only 27 per cent of the women surveyed said that they would be able to replace all of the items in their handbag if it were lost or stolen.


[1] 2,235 Australian women completed the online survey at femail.com.au from 8 April - 21 April 2010

[2] The research results are based on a national Newspoll online survey of 1246 respondents aged between 18-64. The survey was conducted on behalf of GIO between 29-31 January 2010.