Why you SHOULD get Caravan Insurance ?
Nothing gets better than taking your home to the most beautiful places in the countryside, in fact, caravan holidays are the best! A caravan is simply the best vehicle to own if you love traveling to places far away. You might be thinking of buying a caravan, or maybe you already have one, but is it insured?
Caravan Insurance can be really helpful in protecting your belongings and the vehicle itself in case of any mishap, including damages, stolen caravan, or an accident. If your caravan is insured, you will not have to worry much about this because the insurance will cover-up the loss.
Here is everything you need to know about Caravan insurance in the UK.
How does Caravan Insurance Work when you buy Caravan in the UK?
If your caravan gets damaged or stolen, an insurance can cover the cost which is the loss of your belongings. Typically, an insurance lasts about 12 months after which you can get it renewed.
Do I really Need a Caravan Insurance?
Not absolutely but if your caravan is your second home, then you must! The law does not bound you, but since there is always a risk of accidents or theft, you might want to be safe in advance.
Each year about 4000 caravans are stolen. Some are subject to towing accidents that happen due to misjudgment of the caravan’s width or hitting against a poll or a gate, while reversing is very common.
However, when you take upon caravan insurance, you need to make sure you are securing the caravan from your end for the insurance rules to be implied. For instance, you need to hitch lock your caravan whenever you park. If you did not secure it, parked it somewhere, and it got stolen, your insurance will not cover your loss in this case.
What Should My Insurance Be Covering?
This depends upon how you use your caravan. Do you use it frequently for touring? Is it just for the holiday’s sake? Whatever the reason might be, here are some things your caravan insurance company must cover.
Covers loss in case of damage due to flood, storm fire, or theft
- While towing, any accidental damage should be covered
- Must cover touring in Europe; almost all insurance policies cover that
- If you travel with expensive stuff, the insurance should cover this
- A choice new for old caravans or according to market value
What Does “new for old” or “according to market value” Mean?
Anything being insured for its market value means it will be insured according to what it costs at the time. For instance, you buy your caravan for £15,000, and if it got stolen after three weeks, you will get almost the same amount from the insurer.
If 5 years ago you bought the caravan for £6,000, then you would get the same amount in case your caravan got stolen today.
Should I still get a Caravan Insurance if my Caravan is Parked in My House Premises?
The good thing about caravan insurances is that they cover you even when the caravan is at home, and you are not traveling. It is always good to keep your caravan insured because organized groups are always on the lookout to steal high-valued caravans. Even on well-lit highways, there is no guarantee that an accident will not happen.
What are the Types of Caravan Cover?
There are primarily three types of caravan covers, with each one being differently tailored to the type of caravan.
- Motorized Caravan Insurance: This insurance covers all the caravan you drive, which includes motorhomes. Some car insurances also offer a basic cover for motorhomes, but you should still have the insurance for these types of caravans.
- Touring/ Tourer Caravan Insurance: This type of insurance is for those caravans which are towed behind a towing vehicle.
- Static Caravan Insurance: This caters to caravans which are in fixed locations such as on a holiday, caravan parks, or resorts. A lot of holiday parks require you to show an insurance which covers their caravan.
Most Caravan Insurance Companies Exclusions?
Here are some common exclusion you might want to watch out for.
- Wear and tear with time
- Using the caravan for other purposes like running a business
- Theft, whenever the caravan is left unlocked
- Using the caravan in your house premises
Things like cash, jewelry, and electronics are also often not covered by the insurance companies. Before signing up with an insurance company, be sure to have checked their terms and conditions.
If you want a more comprehensive cover for your caravan, you can pay extra for this. These extras can be added to the terms and policies provided you pay extra for them.
- Breakdown Cover: In case your motor home or motorized caravan breaks down on the road, this will cover your repair.
- European Cover: This policy protects touring caravans overseas but it costs extra. When taking this policy, do check that the areas you need to travel to are covered.
- Cover for use by family and friends: Your friends and family don’t need to buy a separate insurance when using your caravan.
How Much Does Caravan Insurance Cost?
The average cost of insurance for a touring caravan is £150 per year. However, these factors play a part in your premium:
- Your caravan’s model
- The place you live
- How much the content you carry cost
- You age
- Where the caravan is when not in use
How can I Reduce the cost of my Insurance?
You can easily reduce the cost of your insurance if you make you work on your caravan’s security more promptly. Get ground anchors and hitch posts which are hard to unlock and thus makes it harder for thieves to break or unlock. Another useful locking mechanism is the caravan wheel clamps, which are more likely a prerequisite for cover instead of the key to a discount.
Keeping a less expensive caravan will also most likely get you a discount.