Introduction to Caravan Insurance
The specific caravan insurance depends on type of caravan. There are two main types.
We can look how the two types of caravan insurance differ in the provision of cover, excesses and why one is cheaper than the other.
Static Caravan Insurance
Static caravan insurance covers caravans that are not towed on the road. Indeed the liability section of such a policy specifically excludes liability arising out of transport on the road, even if the caravan becomes detached from the car. So, almost by definition the caravan is based on one specific caravan site, with rating factors including the propensity to flood and security manifest on the site e.g. whether there is a security fence or a warden on duty 24 hours a day. The fact that the caravan can't (usually) be stolen - although of course the contents inside can, regrettably means that the premiums are cheaper and frequently the excess (the amount you have to pay in the event of a claim) is lower. Indeed some static caravan insurance policies have a deductible called a 'franchise', which means that small claims aren't paid at all but larger claims are paid in full.
Touring Caravan Insurance
In contrast, touring caravan insurance extends cover to those caravans that are towed on the road. The fact that such caravans are easily attached to motor vehicles means that the theft risks are greater, with some insurers insisting that a hitchlock is fitted and applied at all time when the caravan is unattended (even at home, at a motorway service station as well as the caravan park). The location where the caravan is kept when not being used is therefore a key rating factor. If not at home (preferably in a locked building) then storage at a CaSSOA site (gold award best, silver high-level security, bronze good security) is probably the best attainable. Being kept in a farmer's field with no additional security increases the risks. Since there are going to be more claims then the excess will be higher and can't usually be deleted. More information on touring caravan insurance is available
Some caravans are difficult to insure online. Many insurers do not offer Hobby caravan insurance due to their width, relatively wide structure and requirement towed by commercial vehicle few caravan insurance companies quote for these models. We do, subject to normal insurance underwriting criteria. Moreover our rates are similar to standard premiums so you can be assured that insurance for your Hobby caravan won't be expensive.
Note that caravans exceeding 7m in length must be towed by commercial vehicles exceeding 3500Kg GVW and the total length must not exceed 12 metres for the caravan (16m in total). Caravans up to 2.55m wide can be towed by normal vehicles. Wider caravans must be transported.
Many insurance companies will NOT cover for caravans used as permanent residences, caravans let out on a business footing or caravans used as temporary homes for self build projects. (Self build insurance available). In such circumstances it is imperative that you check that the insurance policy desired extends to cover these uses.
Caravan insurance policies incorporate a number of benefits as standard. It is always advisable to look at a key facts wording before purchasing the insurance policy however examples of benefits are: Cover for personal effects. We Recommended increasing home insurance all-risks cover. Full replacement value instead of indemnity, covered UK and worldwide. This is also the best, if not only, way to insure valuables.
The next benefit is accommodation costs, to cover the price of hiring an alternative caravan should your own become uninhabitable - a viable alternative could be hotel accommodation. There will be a daily maximum benefit as well as an annual maximum benefit. Typical values would be �50 a day with a maximum of �1,500.
Public liability insurance has already been mentioned. This covers your liability arising out of the use of the caravan. A static caravan policy will exclude any liability arising out of the towing risk. A touring caravan policy will incorporate this benefit.
Legal expenses insurance is usually included. This covers legal costs in defending cases in law arising out of the use of the caravan. Although rarely needed, it can prove invaluable.
It is important that an appropriate sum insured is selected for your caravan insurance. The sums insured depend on whether the policy is either new-for-old or indemnity basis. Should new-for-old cover be available, base quotation on caravan replacement cost. Indemnity includes deduction for 'wear and tear'. Sum insured should be caravan market value.
There are many discounts available to obtain cheaper insurance. Some of the reductions are based on the age of the policyholder, whether they are members of a caravan club and if they have a proven claim-free record. Keeping the caravan in secure storage or adding additional security devices (to reduce the theft risk) or taking an additional voluntary excess are also ways of obtaining cheaper caravan insurance.
Generally improved risk management, appreciation possible dangers, proven ownership responsibility, reduce insurance premiums quoted.
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