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Archive for October, 2009
If you own a touring caravan then you may wonder about the requirements of touring caravan insurance, such as the legal minimum you need and optional cover available etc. This short guide will explain the ins and outs of what you need to know.
Legal requirements
If you are towing a touring caravan, then you will legally need to ensure that you have at least third party insurance cover. This typically protects you from any claims that arise from third parties for loss, damage or injury caused as a result of you towing your caravan.
However, it does not protect your touring caravan against things such as accidental damage, fire or theft or attempted theft; malicious damage; flood; earthquake; storm or explosion or any other hazards that may befall it.
And that is where touring caravan insurance may be worth considering.
This insurance typically protects both the caravan itself; any accessories (such as awnings); plus possessions inside the caravan against some or all of the events described above. However, as policy features and benefits vary among different providers, it makes sense to check exactly what the cover entails. That way you can have the peace of mind that your caravan and the stuff inside it are properly protected. Some policy providers will give a certain amount of days’ worth of continental cover, as an example, which can be a great benefit to have if you travel abroad with your touring caravan.
Certainly, without touring caravan insurance, should the unexpected happen and your caravan is damaged beyond repair or is stolen, replacing it out of your own pocket will be the only option. Having touring caravan insurance in place can help protect your caravan, leaving you free to tour and enjoy it, without worry and ‘what ifs’.
If you are looking for static caravan insurance, there are a number of ways that you can find some of the products and possible deals available to you. Gone are the days where you spoke to your bank or motor insurance provider and were more or less restricted to what they had to offer. Now, with a bigger market place (meaning more choice of cover) and the internet, finding and comparing static caravan insurance can be a fairly simple process.
But first of all, why use online resources?
There are a number of reasons why you may benefit from using online resources for finding static caravan cover:
- You can access lots of information all from one place (ie your PC);
- Typically, there is more of a choice of caravan insurance products available, meaning you are not limited to the cover you buy;
- The ability to compare products features and benefits against one another as well as premiums, so you get the cover you need;
- Being able to buy online and get immediate cover, rather than having to ring around lots of different brokers or providers in order to see what insurance for static caravans is available;
- Having access to special internet only deals or possibly policies that are discounted because you are buying online.
There are specialist online providers of static caravan insurance that may enable you to shop around for the most suitable protection, quickly and easily. Don’t forget when comparing policies to look at the main policy features and benefits too, to make sure you are comparing then cover on a like for like basis. Check out things like any exclusions as well any policy excesses you may be liable for in the event of a claim.
Protecting the contents of your caravan with caravan contents insurance cover is not just about picking a figure from the air that you think is correct and arranging protection, it is important that you get it right. This is because:
- if you get the amount wrong and don’t take enough protection (this amount is known as the sum insured), then in the event of a claim, you may not get enough money back. This is called being under-insured;
- if you get the amount wrong and you take out too much cover, you could be paying out for cover that you do not need.
So, how do you value the contents of your caravan for insurance? Before we start, bear in mind that there are two elements to consider when insuring your caravan – the caravan itself and any accessories; and the contents. Here we look at the latter, calculating caravan contents insurance cover.
- Tale an inventory of all the items within your caravan or static home, ignoring the fixtures and fixtures such as furnishings which in most cases will be covered under your standard caravan insurance policy. The inventory should include things such as personal effects, TV’s, DVD players and radios, clothing and any sports equipment.
- Add up how much these items cost you – this is the amount that you will need to have included within your cover. If something happens to these items, then you will typically get the market value for them.
- Note that valuable items such as expensive jewellery or cameras may not be covered under the policy.
Finally, do check that you are not ‘doubling up’ on the caravan contents insurance cover. These items may already be covered under your home insurance policy, so look at your home insurance policy documentation or talk to your insurer. After all, why pay twice for something?
Many first time caravan or static caravan owners, or those with an older, inexpensive caravan, may wonder: Am I legally obliged to have caravan insurance for my touring or static caravan?
Legally, if you are towing the caravan on a public road, then you are required by law to have at the very least, third party insurance. This insurance will typically protect you financially against claims that come about due to someone suffering from loss or damage to themselves or something they own because of your caravan or static home.
This type of cover may well be included under your motor insurance policy, so do check your car insurance documents or speak to your insurer and check.
However, it may make sense to consider cover for your caravan as well. Just like your car or your house, your caravan or static home will be vulnerable to many risks, including theft or damage. Without cover for your caravan, you could find yourself at a financial disadvantage if your caravan is stolen or damaged as you will have to fund the repair or replacement of your caravan yourself.
Types of cover
Typically, you may wish to choose either touring caravan cover or static caravan cover, depending on your needs. A caravan that you tow will obviously face different risks to a static caravan, and so you need to choose cover that matches your needs accordingly.
Finding the most suitable insurance for your caravan or static home need not be a time consuming experience, either. The caravan insurance market place has grown in recent years, meaning that there is a good selection of protection on offer. And the internet means that you can access specialist caravan insurance websites quickly and easily, comparing not only premiums, but those all important policy features and benefits too.
So while you are legally obliged to just have towing insurance, protecting your caravan or static home with suitable caravan insurance may make sound financial sense and need not break the bank.
If you own or are considering investing in a static caravan, then making sure that you have adequate protection in place can give you the peace of mind that your investment will not be a drain on your finances in the event that is it is stolen or damaged. This is because, just like your car or your home, there are static caravan insurance risks too that you need to be aware of.
So, what are the main static caravan insurance risks you need to consider? Of course, you face many risks if you have a static caravan, including:
- Burst pipes
- Storms
- Flooding
- Falling Trees
- Accidental damage
- Theft
Depending where your static caravan is situated, one risk may be more prevalent than another. For example, one that is on a site in the Countryside may be more vulnerable to damage from fallen branches than one in the suburbs, while a site near a river may be more prone to flooding.
And no matter where your static caravan is, if it is left unoccupied for long periods of time, it could be targeted by thieves. The basics that you may have in your static caravan in order to make it a home from home such as TVs or DVD players are the sort of items that are very attractive to thieves.
There are of course other perils that a policy may offer cover for, including loss of keys; freezer contents; and the provision for alternative accommodation if your static home is not habitable due to an insured risk.
So, when looking at static caravan insurance risks, make sure that your caravan is properly covered. Shop around for cover and ensure that you read the small print and you fully understand what the protection entails.