Thursday 18 December 2014

Benefits to look for in static insurance


There are many benefits that you could find in your static insurance and these could depend on your provider with some adding in more than others. Benefits are what the policy would pay out in the event that you would have to make a claim on the insurance policy.

Generally static insurance would pay out in the event that your caravan or your possessions in it were to be destroyed or damaged. The policy could cover such things as fire, theft, vandalism, storm and flood damage at the very least. However if you rent out your static caravan then you might want to ensure that your policy would pay out in the event that you could not rent out your caravan during the high season due to it being repaired. If this happened you could lose out on a great deal of rental income. If the policy covered this then it would pay out towards the loss.

If renting out then you want to find out if your policy would pay out for accidental damage and theft by guests. While the policy would cover theft in the event of a break in, it might not include theft by those renting out your caravan so this should be checked in the small print.

If you have fencing and a patio around your static caravan then you might want to check if damage to these would be included in your caravan insurance. Some providers could include them and payout for damage to these however others might not. However any awnings should be included in with the cover for your insurance but there could be limits as to how much the policy would pay out towards awnings and steps so always check before you take out the policy.

Your insurance would cover any personal belongings in the caravan up to a limit. You would usually have to work out how much the total items in the caravan were worth. This is the total amount that you would be able to claim back if the worst happened and you were to lose everything in your caravan. There could be limits on any single items and items which are of particular value such as jewellery might not be included in the policy. Check to find out if your policy would pay out new for old or if it would take wear and tear into account. If your policy provided you with brand new replacements then it would generally cost more than a
policy that would take depreciation into account.

You should always check the small print of your insurance policy you are considering paying out as whoever you take your policy with there will be limits and exclusions. These are what could stop you from making a claim on the insurance so it is essential that you check them before you take on your policy.

If you want to cut down on the premiums for your static insurance then you could pay out more in excess on your policy. Insurance providers will limit the minimum amount you could pay, but you can offer to pay out more. The excess is what the provider will ask you to pay out of your own pocket if you have o make a claim on the insurance.

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2 Comments

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