5 Items to Remember When Valuing your Wardrobe

December 15 2021 By Matthew Rawsthorne

When it comes to valuing your home contents, wardrobes tend to be routinely overlooked and undervalued. It’s one of the most common areas our clients pass over when taking stock of their possessions, despite often having highly valuable clothing collections.

From bespoke designer pieces to extensive shoe collections, over time it’s easy to forget just how much your wardrobe may be worth. We arrange Private Clients policies on a new for old basis, so we encourage our clients to think just how much it would cost to replace items in their wardrobe as if they were new.

As a broad rule of thumb, we tend to expect an overall contents sum insured of £300,000 to have around £40,000 of clothing protection for ladies and £35,000 for gentlemen. For people with a dedicated interest in clothing, these figures can increase significantly.

1. Suits. Suits can easily be overlooked, especially if they’re kept in storage covers. Tailored suits typically cost between £800 and £2,000, and we routinely see clients with wardrobes containing 30 or more. 

2. Dresses, jackets and coats. Dresses from some of the world’s leading designers such as Alexander McQueen can cost from £2,000 to upwards of £70,000. Even multiple non designer items, when combined together, become significant in value. This also applies to clothing types which tend to be higher cost anyway, such as winter jackets and overcoats.

3. Shoes. Designer shoes for both men and women have a distinct reputation for carrying large price tags. Heels from Christian Louboutin start at £450 and range anywhere up to over £6,000.
The average person owns between 10 and 20 pairs of shoes. Often, we see collections that greatly exceed this. 

4. Bags and accessories. It’s not uncommon for us to encounter clients with high-value handbags such as a crocodile Hermes bag worth £40,000, or a Bottega Veneta crocodile shopper at £80,000. 

5. Luggage. Designer luggage collections by the likes of Louis Vuitton can be routinely valued at £10,000. Carry-on luggage from Gucci can be valued at over £2,000 for a single case.

We advise our clients of ways of ensuring they are not under-insured for their home contents, whether that is assisting with an inventory or arranging an appraisal together with the insurance company. We also assist our clients in fully reviewing their Jewellery & Watches, so that they are adequately covered.

For a full review of your requirements, and a no-obligation quote, please contact Matt Rawsthorne today or click here for more information:

Tel: 0161 830 5437



Article produced in partnership with Chubb.