Here are some frequently encountered questions on the subject of the economics of caravan insurance.
Is shopping around really worthwhile?
Quite simply, yes it is.
The obvious reason which may spring immediately to mind is that of price. Some providers may offer solutions that are more cost-effective than others.
Note though the use of the term cost-effective here and not cheapest. That is because price alone is no real guide to the suitability of a product. You need to look at the cost alongside the cover that the policy provides.
Does cover vary significantly between policies?
Without any doubt. For example, some touring caravan policies may offer up to 280 days of EU touring cover as standard. Other touring caravan insurance quotes may offer little or none unless you pay an additional premium.
Clearly, that may be particularly interesting to you if you enjoy taking your tourer over to Europe regularly but perhaps less so if you stay within the UK.
The point is, however, that this is just one example of many areas in which cover may vary and why it is important not to select a policy purely based upon price alone.
Can I negotiate on the cost of my cover?
Unlike the retailing of goods, you may find it difficult to offer an insurance provider a lower price than they are asking for and still obtain the same policy. In that sense, they are not open to deals.
However, what you may find to be the case is that your provider may be able to advise you of ways in which you might be able to reduce the premium by taking advantage of discounts.
Perhaps the most commonplace example is that of excess. In some cases, if you are willing to accept a higher voluntary excess on your policy, you may see a substantial reduction in your premium.
At Cover4Caravans we will always be willing to highlight such opportunities to you.
Can’t I just do without cover altogether?
In some cases, you may be under no obligation whatsoever to have insurance cover on your caravan and caravanning activities.
It might be wise though to seriously question whether that would be sensible.
You may have very substantial sums invested in your caravan and if a natural disaster or other accident destroyed or seriously damaged it, you may find yourself facing horrendous costs to repair or replace it.
Note that if you have purchased your caravan on finance, your loan agreement may require that you keep it fully insured.
Some site owners may also require that you have third party liability cover before allowing you to use their site – though note that in most cases they may have no right to insist that you purchase your insurance from them.
Of course, in the case of motorhomes the law may demand that you have a minimum of third party liability cover in place at all times.