Like any vehicle you intend to take on the road, your caravan requires insurance, but having it is not enough. You need to follow all the necessary steps to getting the right policy and making sure it remains valid.
With this in mind, CaravanTimes spoke to Adam Summersby, trading director at Towergate Insurance, who gave us the lowdown on everything you need to know. Take his advice for peace of mind that your caravan is fully covered.
Getting the fundamentals right
The most important thing to get right when insuring your caravan is the type of cover, Mr Summersby told us. He said that you need to decide between new for old, or market value.
New for old means that if your caravan is irreparably damaged or stolen, your insurer will pay out for a brand new, equivalent model.
Market value sees your insurer pay you the value of your caravan at the time it was damaged or stolen, meaning you’ll get the going rate for a model of that age and condition.
You also need to get the sums insured right, as this refers to the valuation of your caravan.
Mr Summersby told CaravanTimes: “Once you’ve decided on the level of cover, the valuation is key. The most common mistake we might see is a choice of new for old cover with a sums insured that actually reflects its value today, rather than an equivalent new purchase.
“The worst case scenario is that this leaves the customer underinsured, and could have an impact on the settlement value in the event they make a claim.”
Minimum security requirements
Security is a vital part of ensuring your caravan insurance remains valid, as well as acting as a deterrent against theft.
“Theft is a very real threat and it’s often the case that your insurance will have minimum security requirements whilst stored, on the move and on location, as well on conditions for any security you’ve advised you have,” Mr Summersby said.
“It is really important you are aware of what they are because should you not meet those requirements not only will your caravan be at a higher risk of theft, but your insurance may not be valid.”
Caravans come with a lot of accessories and you may have a setup that affords you extra shelter on your pitch, but consider this in terms of insurance too.
Mr Summersby advised: “When on site you might have an awning that you keep various belongings in, be it furniture or perhaps a TV or heater. Make sure you check your insurance policy for the conditions of leaving items in your awning when you’re away from the van.
“It is possible your cover will be reduced when unattended and you need to take precautions for any valuable items.”
Loss of use cover
Most people are aware that caravan insurance covers perils like theft, storm and accidental damage, but depending on the provider you may have cover for a number of other things.
“A good example is loss of use, which can give you a short term solution to accommodation whilst you’re on holiday, rather than your holiday ending because of damage to your caravan,” Mr Summersby told us.
“It’s a great cover that considers the circumstances of the insured but isn’t perhaps your first thought when something goes wrong.”
Photo credit: Unsplash/Izabela Mierzejewski
