Wednesday 22 October 2014

Choosing caravan insurance


Choosing caravan insurance all depends on what type of caravan you have. If you have a touring caravan then you will need to take out insurance specifically aimed with the touring caravan in mind. If you have a static caravan then this is the type you need to take out as it would provide you with different benefits solely for your static caravan.

Whoever you choose to take your caravan insurance with you do have to check the terms and benefits which would include any limitations on what they payout. For instance you will want to ensure that you personal belongings are covered in both static and touring insurance. However some providers could offer a policy that would provide you with brand new if you had to make a claim due to damage or theft, while others could take depreciation into account. A policy that takes wear and tear into account would cost less than one paying out new.

If you have a static caravan and you rent it out then you should give some thought to if your caravan should become damaged and was unliveable during the high season. Therefore you could want to make sure that your policy would provide you with a loss of rental income.

If you were taking your touring caravan outside the UK and into Europe then you would need to take out European cover. How many days coverage the insurance provider would give you would depend on the provider so therefore you would have to check in the terms and conditions. European cover would allow you to claim on the policy to be towed and repaired and it would also provide you with money towards being able to stay in alternative accommodation whilst your caravan was being repaired. This would be up to so much per day and for so many days so again this would have to be checked.

The safer your caravan is then the cheaper you could get your insurance. For example if your static caravan is parked on a well lit site that is fenced in then it would be more secure than if the site was dark and open. Therefore you could get savings on your insurance

If you have a tracking device or an immobiliser on your touring caravan then you could make savings n your insurance as you caravan would be harder to steal. You could also install a hitchlock which would prevent anyone unhitching your caravan from your vehicle while it was parked.

One of the ways that you can save on both types of caravan insurance is to pay out more in excess on the policy. Excess is what all lenders include in your policy and this is the amount that you would have to pay out of your own pocket in the event that you had to make a claim on your insurance policy. While there would be a minimum amount you could pay as much as you wanted. However bear in mind that this amount would have to be found out of your own pocket as a lump sum.

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2 Comments

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