This Is How Much Shoe Insurance Policies Cover — And How to Decide If It’s Worth It

Ever fear you might come home one evening to find burglars carrying off your TV and jewelry? Well, these days they might also be walking away with your Manolo Blahnik boots or Jimmy Choo pumps, takeaways for their significant others.

Theft is just one of the scenarios that can result in loss of property. Items can also be damaged by fire, flood, or even moths. And, while a homeowners policy will typically cover amounts of $1,500 to $2,000 for clothing and accessories, a separate insurance policy for upscale wardrobe items may be worth considering.

According to Jason Hargraves, managing editor, of InsuranceQuotes.com, an online service that offers consumers a free, easy way to shop and compare insurance quotes online, separate couture insurance should be considered for footwear totaling more than $50,000. However, he noted, if you have just one or two high-end pieces in your closet, a rider to your homeowners policy for shoes valued at $5,000 to $6,000 may be the best option. The items will need to be appraised, with the amount then worked out with your agent.

The site’s newest report, “Fashionably Insured? What to Do When Your Couture Needs Coverage,” outlines what you need to know about designer clothes insurance and includes information on where to find a couture/designer policy, premium prices, and what a policy typically covers.

Currently, said Hargraves, American International Group (AIG) is the only company in the U.S. offering couture insurance, compared to Europe where there’s a range of options. In addition to ready-to-wear garments and shoes, AIG offers coverage for historic clothing items.

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