Handbag theft causes financial heartbreak for thousands of women

One in five British women report that they have either lost or had their handbag stolen and with the average value of a handbag and its contents estimated at £300, leading insurer Cornhill Direct is reminding women just how vulnerable their handbags can be.

In a survey of 3,000 women commissioned by the insurer, one in ten women said they had needed to take action to prevent their handbag from being stolen, with opportunist thieves eager to get their hands on a goldmine of goodies.

According to the research, the average handbag on the nation's high streets is worth £48, with 20 per cent of women saying they had opted to buy a designer label.

The survey also revealed that the average purse costs £21 and women carry on average, £33 worth of cash. Add to that a make-up bag and its contents valued at £50, a pen worth £6, a mobile phone valued at £96, an MP3 player worth £35 and a diary or Filofax worth £8 and it is easy to see how the value quickly mounts up.

Nine out of ten women use their handbag to carry house and car keys. Other items found in the nation's handbags include a notepad, umbrella and address book. Some of the more unusual items included a corkscrew, tape measure. passport and even a candle.

Women in Wales carry the most expensive bags in the country, with an average value of £337, followed by Londoners (£325) and women living in the North East of England (£308).

Cornhill Direct spokesman, Mark Bishop, said: "The value of the average handbag has shot-up in recent years as more and more people carry expensive items such as mobile phones and MP3 players.

"Losing or having your bag stolen can be extremely stressful and it also leaves you open to identity theft. Home contents insurance can help to ease the pain by providing financial help but we cannot replace the peace of mind that losing something as personal as a handbag takes away."

Cornhill Direct home contents insurance policy holders can opt to cover personal possessions and money outside the home.

Mr Bishop added: "We would urge anyone carrying a handbag to be aware that they are a prime target for thieves. Try not to carry around important documents and take sensible precautions to minimise the risk of theft, particularly in bars and restaurants. For many women, their handbags are a window into their lives so they are worth taking care of."

Consumers can find out more about protecting their property at: cornhilldirectcrimeprevention.co.uk.