Things change – and those two simple words give every reason for your thinking about your caravan insurance and reviewing carefully any renewal notice you might soon be receiving through the post.
Whenever dealing with insurance issues, a major goal is likely to be one of securing the cover and protection you need, but at as competitive a price as possible. Your quest is for insurance that represents good value for money – even whilst things continue to change.
With this basic principle in mind, therefore, here are a few ideas for reducing your caravan premiums:
- it is your pride and joy and you have been lavishing on it the love and care that your caravan deserves;
- but the stark reality is that it is ageing – the deterioration might not be so very noticeable, but in all probability it is inevitably depreciating in value;
- that depreciation in value needs to be reflected in the total sum for which your caravan is insured – if the figure is set too high, you may be paying more than you need in insurance premiums because of that over-insurance;
- whilst the value of your caravan is steadily changing, the same may be said for the contents, too;
- in this case, though, the total value of all the contents may have to be modified upwards – perhaps because you have been adding new items of equipment or replacing older furnishings from one season to the next;
- it might not help you reduce the cost of the insurance premiums, but it is important not to be underinsured if you want to be able to claim for the repair or replacement of items that are lost or damaged;
- it might be difficult balancing the competing demands of the cover you need with the price you want to pay, let alone finding the appropriate cover from a host of different insurers;
- that is our expertise here at Cover4Caravans – so you might want to draw on our advice and guidance – which comes entirely free;
No claims discount
- thanks to the care you have taken with this or other caravans you have owned, you are likely to be in the position of a relatively claims free insurance record;
- make sure to make the most of this by ensuring you receive any no claims discount to which you may be entitled – it is a great way of reducing the cost of your insurance premiums;
- you might already have considered one of the most common ways of saving money on the cost of insurance premiums – by accepting a higher, voluntary excess;
- an excess represents an uninsured risk and since your insurer is free from that responsibility a lower premium needs to be charged;
- 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;
- the beginning of a new caravanning season might not seem the obvious time to be thinking about how and where you might be storing it when the days grow shorter and the next winter closes in;
- but is worth giving some thought to that now;
- exchange the relative insecurity of parking up your driveway or the corner of a farmer’s field, 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 store;
- this enhanced degree of security may be recognised by insurers – including ourselves here at Cover4Caravans – by way of a discount on the premiums you pay for your caravan insurance throughout the year;
- watch our Caravan and Storage video here for more information;
- storage is not the only time when you 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 in order to enhance the security measures you have taken – fitting smoke detectors, intruder alarms and dead bolts on doors and windows, for instance;
- you may find that the more 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 to take stock when arranging or renewing your caravan insurance, therefore, that you have taken these changes on board in order to reduce the cost of the premiums you are paying.