WHY SHOULD YOU INSURE YOUR DESIGNER BAG?
If you’re anything like Carrie Bradshaw and let’s admit it, we all have at least a little Carrie in us, then that probably means you’ve invested a considerable amount of money not only in your clothing, but in your handbags, footwear, and jewellery too. Chanel, Hermes, Dior, Prada and Louis Vuitton are probably just a few of the names with a home in your closet.
Insure your investment
Make no mistake, when it comes to true luxury fashion, which of course includes haute couture clothing, vintage bags, custom made accessories, limited edition pieces and rare collectables from fashion houses including Hermes, Chanel, Dior, Prada, and Louis Vuitton, to name just a few, these are certainly investments. Exquisite designs like a Hermes Birkin bag or a Chanel 2.55 handbag that are akin to timeless works of art come with a price tag to match. While they may not be like a stock investment, they do have large values that are often appreciated. As such, you want to ensure that you get your hard-earned money’s worth when making a purchase and that once you do purchase the item, that you’re able to both use it and care for it.
Investment items, like vintage designer handbags, in particular, are meant to stand the test of time and can also serve as heirloom pieces that you can pass on to your loved ones. With this in mind, not only do you want to take good physical care of your beautiful bags but you also want to protect them from unforeseen circumstances and unavoidable events. Future proof your expensive designer bag by not only handling it with care but by insuring it as well. This can help guarantee that even if your Louis Vuitton, Hermes or Dior handbag get (knock on wood) stolen, lost, or even destroyed in a fire or any other natural disaster, that you’re able to at least salvage its monetary value.
The brand’s warranty and protection policy
The first and easiest thing you can do to protect your designer handbag is to check the relevant fashion house’s warranty policy. The moment you purchase your bag, whether it be from Hermes, Prada, Dior, Chanel or any other luxury house, is also the perfect opportunity to personally ask their brand’s in-house team what sort of protection plan they offer for your purchase. Bear in mind that some fashion houses offer a limited warranty for a specific number of years, while others guarantee a lifetime warranty, and yet others don’t offer any warranty at all. At such, it’s best to confirm the exact terms and conditions of any warranty and protection plan and to take note of this for any future needs.
It’s also very important to keep in mind that many fashion houses, including Chanel and Hermes, will cover certain types of handbag damage and will provide you with complimentary repair and restoration services. However, most, if not all fashion houses will not cover your handbag in the event of theft or any other type of loss.
Personal insurance and valuation certificates
If you truly want to protect your handbag from such occurrences, getting an insurance policy is the best way to go. Keep your receipts and make sure your bag is insured for a replacement value. Bag prices keep going up every year so you want to make sure you have an accurate and up to date valuation of your handbag that will reflect the price of a replacement bag, should you ever need that. Here at Rewind Vintage Affairs, we provide a handbag valuation service that will give you that peace of mind. Whether you bought your bag a long time ago or recently you need to make sure that you have a certificate that reflects the current value of your item should anything go wrong.
After all, if you paid 2000 pounds for your Chanel Double Flap a decade ago that amount won’t buy you another one today, should your beloved Chanel bag get lost, stolen or damaged.
Big-ticket items don’t just mean your home or your car. Your vintage designer handbag can very well be a big-ticket item as well.
All these measures ensure that the next time you purchase a vintage designer handbag or use your treasured bag, you don’t have to worry about it getting damaged or completely destroyed and essentially seeing your investment go from your closet to down the drain. After all, wearable works of art and luxury handbags are precisely meant to be worn and handled, not kept hidden in your closet.