Aussie fashionistas urged to get additional insurance for designer shoe collection

Kirsty Timsans

Friday 30 October 2015

Almost a quarter of women who believe their shoe collection is worth more than $3,000 don’t believe they would have enough insurance to replace their collection.

Aussie fashionistas urged to get additional insurance for designer shoe collection

The survey of more than 1200 women by UnderstandInsurance.com.au found that one in five Australian women have a shoe collection worth more than $3000, while 10% of women estimated that their shoe collection is more than $5000.

Understand Insurance spokesperson Campbell Fuller said fashion conscious women often underestimate the value of their designer shoe collection and should take the time to work out the value of their collection.

“These could be worth thousands of dollars, so you need to ensure you’ve got enough insurance to protect you against theft, fire or accidental damage,” he said.

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More than one in five of women surveyed also revealed that they didn’t realise collections and individual items of high value, such as designer shoes, should be itemised separately on a contents insurance policy.

“Shoes will generally be covered by a home contents insurance policy, but if you’re one of those women with a wardrobe full of shoes, you may need to talk to your insurers and seek additional coverage -otherwise your feet and your finances could suffer significant loss,” Fuller said.

An earlier study this year by Understand Insurance  revealed  that one in three Australian women who estimated their wardrobe is worth more than $5,000 did not believe their current insurance policy would cover total replacement costs if they had to make a claim.

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