Targus and Packard offer great waterproof camera bags for very low prices.
I cannot really say if that brand of camera bag is a good bag. You can go online and read reviews of that brand if that's the one that you are interested in. You can search for many other bags online too.
Both water resistant and waterproof bags are available for cameras, but you should take care to avoid submerging the camera bag in water.
Canon and Nikon both make travel bags that are waterproof.
You can try the Lowepro DryZone 200 Backpack, Waterproof Camera Bag.
Egg Mc.Man.....In a Plastic Bag
The Canon Gadget Bag is waterproof and large enough to carry two camera,3 or 4 lenses and accessories.
Egg Mc.Man.....In a Plastic Bag
XCM a good waterproof case makes the Seawalker waterproof bag for PSP. anonymous@oola.com
Timbuk2 has a variety of quality waterproof laptop bags with many styles and colors to choose from. The Commute 2.0 Messenger Laptop Bag, made by Timbuk2, is stylish while providing comfort for your day to day needs.
If you are good with tools, it is posible to make a waterproof enclosure for your camera out of PCV piping and a heavy duty plastic bag. This method is cheap, but unless you are good at following instructions it may not be worth the trouble. A better option is to buy an underwater camera case. The cases go for around $20 and are available for most brands of camera.
A good cheap camera bag can be found from many retailers, both in store and on line. Best buy carries many camera accessories like camera bags. Amazon.com is also an excellent source for these.
Amazon is the best place for these type of things you can get a brand new camera bag for under ten bucks on amazon and that's with shipping so i would go with amazon.com.