The UK Insurance Blog

Good news for bag snatchers but bad news for all bag owners, is that we each carry an average of seven hundred pounds worth of contents. Thanks to this new age of gadgets and designer labels we are increasingly at risk of losing valuable belongings that we carry around in our bags on a daily basis. According to the article “Bag snatchers target one in ten” as a nation, we carry around twenty five billion pounds of personal belongings day to day.

The study, carried out by the insurance company ‘More Than’, paints a shocking picture and highlights the fact that our valuable belongings are at considerable risk from theft the moment we leave home.

Twenty four per cent of us claim to lose a possession or have something stolen from our bags while out shopping in the high street. Not only are one in ten of us likely to have our bags stolen while out seventy seven per cent of us do not have adequate protection insurance for these lost belongings.

The most valuable items that our bags largely contain are electrical gadgets and or including cash and credit cards. Ninety two per cent of women claim their bags are where they keep their money (while men like to feel their money is safe in their trouser pockets).

Geographically speaking, your bag is the least safe on the London high streets as eighteen per cent have had a bag snatched. Wales is where your bag is less at risk with six per cent of this crime happening to them.

With bag snatching on the increase (and not only for the contents but for the bag itself at an average cost of £87) the time has come for people to look into adequate possessions insurance cover to protect against the loss, damage or theft of our bags.

Tags: damage insurance, possessions insurance, theft protection

This entry was posted on Sunday, January 25th, 2009 at 5:45 pm and is filed under General, Home & Contents Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.