Failing To Protect Your Treasured Shoe Collection?

One in five Australian women has a shoe collection worth more than $3000, with almost 10 per cent estimating their shoe collection at more than $5000, a survey has found.*

From boots to ballet flats, peep-toes to platforms, and sandals to stilettos, the understandinsurance.com.au survey confirms the footwear fetish, with women owning 22 pairs of shoes on average.

But anyone thinking of splashing out on a pair (or four) of Louboutins or Jimmy Choos for the Spring Racing Carnival should ensure leather or suede protection is backed up with insurance protection.

The Newspoll survey of more than 1200 women found almost a quarter (23 per cent) of those women with collections worth more than $3000 don’t believe they would have enough insurance to replace their heavenly heels.

Understand Insurance spokesman Campbell Fuller says Australian women should tread carefully and take the time to work out the value of their shoe collections.

Though people often think to insure jewellery and expensive electronic devices, fashion-conscious customers often underestimate the value of their designer shoe 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.

Shoes will generally be covered by a home contents insurance policy, but if you’ve got 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.

FAMOUS SHOE COLLECTIONS
1. Reality TV personality Khloe Kardashian is the most shoe-obsessed of the Kardashian sisters, confessing to owning at least 70 pairs of Christian Louboutins.

2. Pop diva Mariah Carey has admitted to owning about 1000 pairs of shoes, which are arranged in her wardrobe in spectacular fashion by colour and material, as well as event-specific groupings.

3. Arguably more infamous for her collection than famous, former First Lady of the Philippines Imelda Marcos was said to have owned more than 3000 pairs.

*www.understandinsurance.com.au – Media Release 23/10/15