There is, of course, absolutely no single answer to such a complicated question. Too much might depend upon variables such as your type of caravan, where it is and how you use it etc.
However, there are a number of factors that typically influence your insurance costs as follows:
- the value and make. As you might expect, if all other things are equal then the higher the value of your caravan, the more it might cost to insure it. Some manufacturers’ vehicles might also be more expensive to insure than others;
- where you have chosen to site it, if it is a static or park home. Some sites may be defined as being higher risk than others, for example, in the case of a site with a known history of flooding. In the case of park homes and static caravans, if you choose a site which has a poor track record for things such as theft and vandalism, then your premium may increase significantly. Some providers may even decline to cover it at all;
- the value and nature of your contents. Some policies may specifically exclude certain categories of contents from their cover or have strict maximum pay-out per item limits;
- the nature of your security precautions. Some policies might prove to be lower cost in situations where you have opted to use things such as alarms, hitchlocks and wheel clamps. In some cases, such precautions might be a mandatory requirement of the policy;
- the facilities of an individual site. In fact, some policies may not cover static caravans situated on unregulated sites or those which do not have a full range of mains facilities;
- whether or not you use your vehicle for commercial purposes. Note that even if you rent out your caravan for a few days here and there each year, you may be making any personal cover you have invalid. In such circumstances, you may need some form of commercial cover, which typically may be more expensive than ordinary recreational use policies;
- in the case of touring caravans, the ages and backgrounds of drivers. Some policies may allow drivers of any age to tow the caravan, some may not and others may have upper and lower standard ages which if exceeded, may incur additional costs. Policies might typically also have higher premiums in situations where an insured driver has motoring convictions;
- the discounts offered. Some providers may offer discounts for a number of things including, for example for tourers, discounts where the ‘van is stored on a CaSSOA-approved site. Or, in some cases, if you are willing to accept a higher voluntary excess on your policy (this is the first part of any successful claim that you are liable to pay), you may see a substantial reduction in your premium. At Cover4Caravans we will always be willing to highlight such opportunities to you;
- in the case of tourers, your annual mileages and whether or not you plan to go outside of the UK (some policies may offer extensive EU cover as standard).
Finally, shopping around for your cover will enable you to get a feel for what constitutes what you consider is a good deal.
Is shopping around really worthwhile?
Quite simply, yes it is.
The obvious reason which may immediately spring to mind is that of price. Some providers may offer solutions that you feel 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’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.
Let us do the legwork!
Here at Cover4Caravans we know the importance of actually matching an individual caravan owner to appropriate insurance solutions and that is why we can shop around on your behalf for caravan insurance to find the most suitable deal for you.
We would welcome the opportunity to help you investigate the market and to consider in more detail, just how you might be able to apply some downward pressure to the overall cost of your caravan cover. Please contact us today on 01702 606301.