Do you know the worth of the treasures in your wardrobe?
Much like collectors of fine art, antiques, wine and collectables, as someone who is a fashion enthusiast I understand what it means to be passionate about those all-important (and very much essential) investments … handbags, clothes, shoes and accessories.
At the end of 2014 The Independent revealed that the average British woman spends more than £500,000 on fashion over a lifetime. It was also found that 70 per cent of those surveyed didn’t know about the wealth hidden in their wardrobes.
Do you know the worth of the treasures in your wardrobe? It’s actually more important than you might think. According to a 2015 survey conducted by the Association of British Insurers (ABI) one in five households (20%) could be underinsured because the respondents didn’t know how much their home contents were worth.
It's really important to include the value of your clothes, as if you were going to buy them new, in your contents sum insured. But how do you keep your fashion investments safe in the first place? Well, how you store them is paramount. Here are my top 10 essentials for your walk in wardrobe:
1. Use the floor to ceiling space
Shelving can create vertical storage space both above and below wardrobe rails. Draws with dividers are great for organising underwear, scarves, and accessories. The addition of rods at different heights will ensure that you can display those essential investments to perfection.
2. Shoe and Handbag Shelf
The sight of a perfectly aligned colour co-ordinated row of shoes, boots and handbags is a thing of joy. Whether you prefer to sort by style or colour, a well-positioned shelf will ensure items are kept in great condition.
3. Mirror, Mirror on the Wall
A full length mirror is an absolute essential to ensure you can assess the full impact of your wardrobe selection.
4. Jewellery and accessory station
The way that you accessorise your outfit will change the entire look. So whether you have decided to dress your outfit up or down, having all options to hand is essential.
Don’t forget that your walk in wardrobe isn’t just a place to store you clothes and accessories – it’s a functional space and for that, you’ll need seating.
6. A mounted ironing board
A discrete but easily accessible ironing board will help you take care of those last minute creases.
7. Laundry Basket
Whether you opt for a portable laundry basket or a statement hamper that could double as seating, a laundry basket in close proximity to were to dress is a must.
Good lighting is essential. Not only is it functional for dressing and applying make-up, lighting can be used to showcase your passion for fashion.
9. Décor that shows off your collection
A crisp white décor provides a great backdrop to show case your collection.
10. An organised approach
Once you have all of these elements, it’s time to organise. Whether you choose to group items in sections, by colour or by outfit, the key is to have one consistent method throughout.
So, your clothes are protected and your walk-in wardrobe is looking fabulous, now it’s time to make sure they are covered under your insurance policy.
First of all you need to check the definitions and single item limits of your policy. Typically, clothes are accounted for in the definition of contents but don’t forget to check the definition of valuables as the definition could include articles such as furs. Single article limits often apply (especially for valuables) which means that if you have any one item that will cost more than the single article limit to replace then the item(s) will need to be specified.
You’ll also need to review the value of your contents (including clothes, footwear and handbags) each year. When calculating your sums insured for contents remember that they must reflect replacement costs at today's prices (not the amount you paid for them).
So, there you have it, my top 10 essentials for your walk in wardrobe and how to keep your treasured fashion items safe.