Although caravan insurance is not a legal requirement in the UK, caravan theft is becoming more common and therefore may be the biggest reason to insure your caravan.
Whilst you are towing your caravan you are covered by your motor insurance policy and so you may wonder whether caravan insurance is worth the cost, but as soon as the caravan is un-coupled this is no longer the case and not really worth the risk.
It is estimated that around 3,000 touring caravans a year are the target of crime. This includes anything from the actual caravan being stolen through to personal items being stolen from within the caravan itself. Therefore, when taking out caravan insurance you need to ensure you have the adequate level of insurance.
If you have a new caravan then you may wish to take out a new for old insurance policy; this means that if your caravan is stolen your insurers will pay out the cost of buying a new caravan. However, if you own an older caravan then you may wish to restrict the policy to market value only which will keep the cost of the insurance premium to a minimum.
A couple of additional things you need to check when taking out an insurance policy for a caravan is that unattended personal items are covered when these are left in the caravan. Also check that emergency accommodation is included in the policy just in case the caravan gets badly damaged or stolen whilst on holiday; at least then you would have somewhere to stay the night. Finally safeguard against storm and flood damage as the past few years in the UK this has become a much more common issue with some of the unusual weather patterns we have experienced.
We know that insuring your caravan can become an expensive task but there are some things you can do to save yourself some money. Here are a few of our best tips when it comes to taking out caravan insurance.
• Parking Location
The location where you park your caravan is very important when purchasing insurance as insurance companies calculate the premium based on the location. As with all insurance, areas are assessed according to crime rates so if the area where your keep the caravan has implemented security features such as a neighborhood watch then inform the insurance company to see if you are eligible for any discount.
• Safety features are an important part in reducing the cost of your policy
Adding inexpensive safety accessories to your caravan can significantly lower your insurance premium. Some safety features include hitch locks, alarms and wheel clamps; all of which could save you up to 10% on your policy. If you can afford a few more expensive items then some of the industry-approved security gadgets could save you up to 30% every year on your insurance.
• No previous insurance claims
If you’ve never made a claim on your insurance policy in the past then you could be eligible for a discount when purchasing an insurance policy for your caravan; that similar to no claims discount on car insurance. Simply ask the insurance company about any bonuses they have for caravan owners with no past claims.
• Caravan clubs could help reduce the cost of insurance
If you are a member of a caravanning club then mention this to the insurance company. You could also ask the organising body of the caravanning club about whether they are aware of any specialist companies that may be able to provide you with fair costs for caravan insurance.
• Increase your Voluntary Excess
Increasing the amount of the voluntary excess on your policy is one of the best ways to obtain cheap caravan insurance. The voluntary excess is the amount you agree to pay the insurance company prior to the insurance group takes over by paying for any damages or claims.