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Daily Insurance Industry News
Friday 20th of April 2018
April 20, 2009

Insurers face £55m annual bill for handbag theft

by David Masters

Story link: Insurers face £55m annual bill for handbag theft

One in five women have been the victim of handbag theft, and the crime now costs UK insurers £55 million per year.

Research by Direct Line home insurance found that the cost of replacing items in a handbag now averages over £100, including make-up, cash, keys, mobile phone, and medication.

In addition, handbags themselves are becoming more valuable, with nearly one in ten (9%) handbags worth £250 or more.

Pubs are the most likely place for handbags to be stolen, with 14% of thefts happening here.

Other common locations for handbag theft include the workplace (12%), shopping malls and supermarkets (12%), night clubs (12%), and from the car (8%).

More than half (52%) of women worry about having their handbag stolen.

Frances Browning, spokesperson for Direct Line home insurance, said: “Many women carry around personal possessions in their handbags that can add up to a small fortune, along with items of sentimental value.

“Therefore, it’s no surprise that many are concerned that it might happen to them.”

She added the Direct Line expects handbag theft to increase as the recession deepens.

 

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