Whenever you are arranging insurance, your principal goals are likely to include securing the cover and protection you need but at as competitive a price as possible. You are unlikely to be looking for the cheapest cover, but the cover that offers what you consider is the best value for money.
With that objective in mind, let’s take a closer look at:
- considerations when buying caravan insurance;
- some of the ways you might reduce your caravan premiums;
- whether cheap always means the best; and
- how an independent insurance broker can not only help you find suitable caravan insurance cover but insurance that also represents good value for money.
Considerations when choosing caravan insurance cover
It is likely to be your pride and joy, of course, and you have been lavishing on it the love and care that your caravan deserves. You might even have made some improvements to your ‘van, such as installing a new kitchen area, for example.
That increase in value needs to be reflected in the total sum for which your caravan is insured – failure to update the sum insured could mean that in the event of a claim, any settlement is insufficient to make the necessary repairs or to replace your losses.
Reducing your caravan insurance premiums
The following are some of the ways you might want to consider for reducing the cost of your caravan insurance premiums:
Excess
- an excess is the first part of any successful claim that you are liable for. Your insurance provider will set a compulsory excess;
- but you may be able to save money on the cost of insurance premiums – by accepting a higher, voluntary excess in addition to the compulsory amount;
- remember, though, that in the event of any claim, you may need to pay not only the cost of any compulsory excess but any voluntary excess you have also agreed to accept;
Storage
- where do you intend to store your caravan when the days grow shorter, and the next winter closes in – it’s worth giving it some thought now;
- you could save money on the cost of your insurance premiums if you exchange the relative insecurity of parking up in your driveway for one of the purpose-designed, secure storage sites registered with the Caravan Storage Site Owners Association (CaSSOA);
- there are some 400 or so registered sites around the country, and each one has been independently assessed and ranked according to the level of security offered to your caravan whilst it is in storage;
- this enhanced degree of security may be recognised by insurers – including ourselves here at Cover4Caravans – who offer discounts from 5%-20% on the cost of your tourer cover if you store your ‘van at a CaSSOA-approved site;
- watch our Caravan and Storage video here for more information;
Security
- storage is not the only time when your caravan needs to be kept safe and secure;
- as with any general insurance contract, you have a responsibility for taking every reasonable precaution for mitigating the risk of loss or damage – a principle founded on the concept of your caring for the insured property as though there was no insurance protecting it;
- nevertheless, you may decide to go over and above these basic standards to enhance the security measures you have taken – fitting intruder alarms and deadbolts on doors and windows, for instance;
- you may find that the closer attention you pay to security measures such as these, the more likely is your insurer prepared to offer a competitive rate for your premiums.
Many things may change from one year to the next. It is important when arranging or renewing your caravan insurance, therefore, that you take these changes on board in order to make sure you still have the most appropriate cover.
When cheap caravan insurance is not always the best insurance
A cheap caravan insurance policy may not always be the best.
If you are looking to reduce your caravan insurance premiums, there might seem a compelling argument for making the simplest and most straight forward move – by choosing the policy offering the cheapest premiums.
Before going into the ins and outs of cheap touring caravan insurance, though, it’s important to remember one golden rule – whatever you consider to be the best and cheapest caravan insurance may not be so for someone else – it is a personal thing, and no one size fits all. What might suit you the best may not meet the needs and requirements of your neighbour.
The caravan insurance you need is almost always the cover that is particular to your individual requirements and circumstances. So, it may be quite different to the cover needed by your neighbour, for example – irrespective of the price you pay.
Finding insurance that is suitable for your own needs and circumstances, therefore, is more likely to be a question of what you consider is good value for money, offering the protection your caravan needs, rather than its absolute price.
Keep that in mind while you search for touring caravan insurance that is both competitively priced and represents good value for money – so, shop around.
Shop around
Whenever you are looking for good value for money for any kind of product or service, you are likely to start shopping around – starting by comparing prices between one supplier and another. Once again, however, when shopping around like this, it is important to keep in mind exactly what cover you need and take this firmly into account when comparing prices.
One of the most common difficulties may be that some touring caravan insurance policies include as standard elements of cover which you do not really need and exclude others that you do – there may be a gap between what you want and what seems to be available on the insurance market.
Consult an expert
Working out the cover you need and then matching your individual requirements to the products available might prove considerably more difficult than it seems. Even deciding on the appropriate level, scope and nature of the touring caravan insurance which might be suitable for you may be difficult. Subsequently trawling through the many insurers which seem to offer something approaching your needs becomes more difficult still.
There is a simple solution to this conundrum – and that is to consult an expert, like ourselves here at Cover4Caravans, and let us do the searching for you while we match your specific needs and requirements to the touring caravan insurance policies available.
That is our mission as an independent caravan insurance broker.
Why using a caravan insurance broker may save you money
Here are just some of the advantages and benefits you may enjoy by consulting a caravan insurance broker – you might want to read them against the declared aims of the British Insurance Brokers’ Association (BIBA) on the ways brokers help consumers and businesses:
Get a wider choice of policies
- a broker typically will be able to provide more choice when you are looking for a policy – a broker usually has a range of different options, and he or she could help you to choose between them;
- having more choice means some policies are likely to be less expensive than others, so this is a possible way to reduce your costs;
- while at first glance a comparison website may seem to be a good idea, the downsides are that not all caravan insurers are listed on these sites (so you may not get the full picture of what is available);
- plus, when you initially enter your product requirements, the results may show a ballpark figure and if you then decide to go with one provider, you may need to re-key in the details in order to get a “proper” quote and also find that the price differs;
Specialist cover may be available
- because brokers tend to specialise in certain types of insurance cover, typically they have long-established relationships with the various insurers, meaning they can match you to the most appropriate policy;
- they can also access deals that may not be available on comparison websites;
- a broker can often find cover that is more suitable according to your specific needs, and this may help you to get the protection your caravan needs for a lower price;
Go beyond the premium
- a broker may be able to alert you to other ways you could save money – for example, if a policy is tempting because it is less expensive, a broker may point out how it could end up costing you more in the event of a claim, perhaps because it does not cover something essential to your needs;
- alternatively, a broker may be able to recommend a policy that provides discounts for certain circumstances – if you store your caravan at a previously mentioned CaSSOA-approved site, for example, membership of a recognised caravan club, or even discounts that reflect your experience as a caravan owner;
Simplify the process
- buying from a broker is typically made easy;
- at Cover4Caravans, for example, we aim to make it as simple as possible, whether you buy online or over the phone – and if you don’t know what you want or need, simply give us a call and we will talk you through your options;
Get expert advice
- brokers are experts in the insurance products they arrange, and they are there to provide advice and answer questions;
- if you have any questions about any aspect of insurance, they will be able to help you so that you can make a more informed decision;
Enjoy peace of mind
- by going through a specialist rather than buying insurance alone, you may be able to enjoy more peace of mind because you know that you have cover that protects you in precisely the way you expected to be protected;
- a broker can ensure that the policy covers all your needs so you are less likely to find any nasty surprises should you need to make a claim.
Find your insurance today
A broker may be a suitable option for all of the above reasons. However, you should go with what seems the most appropriate option for you. Whichever way you buy your insurance, make sure you are properly covered – you can then enjoy spending time in your caravan knowing you are fully protected.