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Home , Handbag, Kelly bag

PRIVATE CLIENT Risk Solutions Series

Are you protecting your fine collection the same way you protect your art and jewelry?

According to FinancesOnline.com, owning the rarest, • Keep all your handbag collection inventory best-designed and most durable is a worthwhile information in a secure location, such as in a safety investment, with resale prices astronomically rising after deposit box or stored with a secure cloud service several years.¹ A rare Birkin recently sold for provider. $383,522 at an auction at Christie’s in Hong Kong.² A mini • Regularly maintain and update your inventory as you Courcheval yellow Hermès previously owned by purchase new . There are vendors, software Elizabeth Taylor sold for $47,196.² and applications to assist with your inventory. The Kelly bag, which was renamed after fell • Contact your insurance agent to confirm your in love with the sac à dépêches, takes at least 18 hours handbag collection is adequately insured. to create by hand and usually starts around $10,000 depending on the type of .³ Most Birkin bags, which Take care of your handbags to protect their value take up to 48 hours to produce, sell for $8,000-$12,000 Follow these simple steps to help safeguard your passion depending on the size and material used.³ for handbags, one of your most prized collections. Whether or not your personal collection includes an iconic • Shield your handbag from spills and dirt by treating Hermès bag, at Nationwide® Private Client we understand the material with fabric guard, water and oil repellant your handbag collection is important to you. Nationwide and/or leather conditioner. When purchasing, Private Client Risk Solutions recommends the following remember to ask what treatment product is simple steps to help protect your fine handbag collection: recommended for use on the handbag. Take inventory of your handbags • Avoid placing your handbag in areas where it can get Home inventories are invaluable to have when it comes to soiled. For example, be careful where you put your a loss, especially a total loss. Start today by including your bag while at the hair salon. If left on the floor, styling handbag collection in your home inventory: products and chemically treated clippings can land on your handbag and leave marks. When dining out, Do a video walkthrough of your house showing all the consider using a purse hook to store your handbag major items in each room and a view of each closet so your under the table or placing a smaller clutch behind you valued possessions, including your handbags, can be seen. in your chair at the small of your back to protect from • Take photographs of your handbags showing the food, beverages and dirty floors.⁴ brand names.

Risk Solutions Series

• Handbags will last longer if stored the right way: • Practice routine maintenance. Clean with a out of sunlight, away from heat sources, in an suede brush. Moisturize leather regularly to keep it upright position and ideally within their dust bags looking good and free of cracks. Wipe your handbag or a natural-fiber pillowcase. Never store bags in with a soft cloth on a weekly basis. plastic or vinyl, which can trap moisture inside. Keep • For stains, tears and wear beyond your expertise, take handles crossed over each other to avoid scratches. it to a handbag repair professional. Most repair Removable should be detached and stored shops also work on handbags. They can treat it, clean inside the handbag. it and restore its color. • Maintain the shape of the handbag with a handbag If you have any questions, please contact your agent or insert or bubble . Don’t use , or Nationwide Private Client Risk Solutions professional. For tissue paper, as they can attract moths. more information on how you can help prevent losses, • Protect the from stains and tears by storing visit nationwide.com/solutionseries. For information on cosmetics and liquids in pouches. Opt for pens with our personal collections policy, visit or keep them in pouches, as well. Handbag liners nationwide.com/coveragecorner. can also be used to organize and keep the interior clean. We offer this information to assist you in making decisions • Avoid touching the bag with dirty hands or after that can help mitigate your risk. While we cannot address applying beauty products, lotion or cream. every possible scenario or guarantee these tips will work • Regularly rotate which handbag you use so they don’t for you, our goal is to support your efforts to protect wear out too quickly. yourself and your family.

1 financesonline.com/top-10-most-expensive-handbags-in-the-world-louie-vuitton-diamonds-crocodile-skin 2 nytimes.com/2017/12/14/fashion/christies-handbag-sales-birkin-auction-record.html 3 spottedfashion.com/hermes-price-list-reference-guide 4 marieclaire.co.uk//clean-care-leather-handbag-tips-512118

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The information used to create this flyer was obtained from sources believed to be reliable to help the users address their own risk management and insurance need. It does not and is not intended to provide legal advice. Nationwide, its affiliates and employees do not guarantee improved results based upon the information contained herein and assume no liability in connection with the information or the provided suggestions. The recommendations provided are general in natural; unique circumstances may not warrant or require implementation of some or all of the suggestions. Nationwide, Nationwide is on your side, and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. ©2020 Nationwide. PVR-0578AO (2/20)