If you are asking yourself where you can find the cheapest static caravan insurance, you might want to think again and ask whether you are asking the right question.
Whenever you are buying insurance – or any other product for that matter – the most important question that should be asked is whether the product offers good value for money, delivering everything you want from it at a competitive price.
To help you decide on choosing what is good value insurance for your holiday caravan, therefore, you might want to take into account some of the following suggestions:
The site owner
- your site owner may offer you their own caravan insurance. Note, however, that this may not offer the best value or most cost-attractive solution for you;
- in most cases you are free to shop around for your static caravan insurance and not obliged to take the cover from the site owner;
- if you do source your own product, your site owner can ask for sight of the cover and may charge a small admin fee. Even so, sourcing the cover independently could still save you money overall – so it is worth shopping around;
- arranging the appropriate insurance depends on your knowing what needs to be covered and the nature and extent of the policy you are looking for – something which for the relatively inexperienced caravanner might be difficult in itself;
- but that is only half of the story, since when you have determined what insurance you are looking for, you next need to find out whether it is available in the current insurance market;
- unless you have a particular inside knowledge of the intricacies of the insurance market, you might find that expertise and experience of a specialist broker in static caravan insurance, such as ourselves at Cover4Caravans, may help to find the appropriate match between the two halves of your quest. Indeed, the government sponsored Money Advice Service suggests that a broker may help you to find better cover at the most favourable price;
- as with any insurance, the protection for your static caravan is only as good as the risks and perils covered by your insurance policy – the details of which are likely to vary from one insurer to another of course;
- the single most important element of cover is likely to be protection of the caravan itself against such potentially catastrophic risks as fire, flooding, storm damage, impacts and vandalism;
- a cause for particular concern – given the damage such incidents may cause – is the risk of flooding and whether your policy extends cover in such an eventuality;
- holiday caravan parks in some parts of the country may be more vulnerable to flooding than others, so it may pay to check on the Environment Agency’s scalable map whether your caravan is in just such an area – if it is, you may find it more difficult to secure insurance or find that you need to pay more for it;
- a further area of concern when insuring the caravan concerns the possibility of a total loss and whether the insurer offers replacement on a new for old basis or whether depreciation is taken into account – the age of your caravan typically affects whether the insurer is prepared to replace it or offer a settlement based on its market value before the incident;
- just as you might want to protect the contents of your main place of residence, static caravan insurance may also extend to the contents – which may have mounted steadily in value as you make use of your second home;
- the total sum insured for the contents is an important aspect in ensuring that you are neither underinsured (when the settlement of a claim may be insufficient to cover the costs of replacement) or overinsured (in which case, you may be paying more for the cover than you really need);
- as part of the general terms and conditions when agreeing the lease for your holiday home’s pitch, the park owners may insist that you have adequate public liability insurance – to cover claims from other residents, visitors or members of the public who may be injured or have their property damaged in connection with your ownership of the static caravan;
- injury claims in particular pay amount to very substantial amounts, so you may not be surprised to learn that your holiday home insurance under this heading is for an amount up to £1 million – or more;
Playing your part
- a key part of any insurance contract is the insured’s responsibility for ensuring that all reasonable steps are taken to mitigate the risk of damage or loss – and static caravan insurance is no exception;
- in this case, it is likely to involve specific precautions to be taken during those months of the year when the holiday park is closed and your caravan stands empty;
- such precautions you include the removal of items of particular value, confirmation of the holiday park’s security arrangements during the closed season, disconnection of gas and electricity supplies, and the draining down of all the water systems.
Some forethought to issues such as these and discussion with a specialist static caravan insurance expert might help ensure that you get the best value for money from your insurance cover.
Further reading: Guide to Static Homes