Life throws different curveballs at us at different times and occasions. They are not ideal, for sure, but since we know to expect the unexpected, should we not be prepared for the future?
Insurance is a great way to guarantee that whatever life throws at you, or, in this case, at your caravan, is nothing more than a small bother.
Caravans are great for a multitude of reasons, discussed in other articles in depth (see below). But caravans are also prone to various kinds of accidents, so insuring one makes sense, right?
So let’s get down to business and answer that question….
Do I Need To Insure My Caravan?
You don’t NEED to insure your caravan but as with anything valuable it’s a VERY good idea!
You may click here to get the basics of caravans and their ups and downs.
And now, read on to find out more about the mysteries of caravan insurance and whether or not you need to get one for your precious caravan.
Is It Illegal To Not Have Caravan Insurance?
Not yet. No. You are not under any legal obligation to insure your caravan, be it static or the touring kind.
That being said, there are thousands of caravans thefts per annum, many accidents that may or may not happen, so, better safe than sorry, don’t you think?
Why Do I Need Insurance?
Because, life happens. Is it so unimaginable to concur that some kind of accident may leave your caravan with dents and scratches (the bare minimum) and has moved (read: broken) around your treasured belongings on the inside? Are we forgetting nature can be as frightfully destructive as it is profoundly beautiful?
A whole host of problems can be solved if you insure your caravan. The touring kind is definitely more liable to accidents than the static variety.
Something as simple as towing can cause the most common kind of damage. You could hit something while reversing, or you could try to fit your caravan in a narrower street than you thought it was and let us not even begin to talk about the damage Mother Nature can inflict when she cooks up a storm sometimes.
Theft is avoidable, but in case your caravan does not happen to be where you left it, it is best to invest in an insurance policy for your caravan. However, you will need to make sure you do everything in your power to secure your caravan enough that thieves will have to think twice (or thrice) before stealing.
If you did not secure the caravan, most insurers will not be liable to pay for your loss.
What Insurance Policy Is Best For Me?
Policies can be custom made to suit your needs. But ideally, they should include certain things:
• Loss or damage for any fire, any theft, and nature elements like flood and storm.
• Accidental damage cover for while it is being towed.
• A choice of new for old or market value. (More on this in a minute).
• Contents cover (for your valuables).
‘New for old’ vs ‘Market value’ Caravan Insurance
Imagine this, if you would.
You have happily invested in your brand new, state-of-the-art touring caravan, fully equipped and everything you could have hoped for and more. It has only been a few months and you were learning to embrace the different lifestyle and all the things that came with it. You go over to a friend’s place and leave your caravan parked in his driveway (which is legal, just btw).
Night arrives, bringing with it storm clouds, out of nowhere. Rain starts pounding, thunder claps, and lightning happens to strike your brand new caravan. In the blink of an eye, everything is ruined.
Well. Everything would be ruined, if you had not opted for insurance at the time of purchase.
Since it has only been a few months, the current value of your caravan will not have dropped. So, essentially, if you purchased it for 18,000 GBP, you could rest assured that you will get all of the 18,000 GBP back.
Had the same scenario been slightly different, one with you driving a decade old caravan, you could expect to get paid nearly 5,000 or 7,000 GBP, sufficient to allow you to buy a caravan similar to your old one.
That is called the ‘market value’ of your caravan. It’s current worth.
A ‘new for old’ cover, simply means you could expect to get paid 18,000 GBP even if your caravan were 15 years old at the time of the accident. Convenient, right?
Isn’t Car Insurance Enough?
Hmm, car insurances do cover any damage that would occur to your vehicle while towing a caravan, but the caravan itself wouldn’t be covered. Get it? Anything inside, any damages, will have to come out of your pocket.
So, no, car cover is not enough in almost all policies.
You need a policy specifically tailored to your caravan.
Are There Different Types Of Caravan Insurance?
• Touring or tourer caravan insurance. As the name suggests, this covers caravans that are towed behind a vehicle.
• Static caravan insurance. These caravans are generally stationary, however, if you decide to move a static caravan, it would be helpful to get a ‘goods in transit’ insurance from the movers in case of damage, accident or theft.
• Trailer tent and folding caravan insurance. typically, these caravans are less secure than the above-mentioned caravans, so they can be a little bothersome to insure.
What About The Inside Of My Caravan? – aka Caravan Contents Insurance
Depending upon your insurance provider, your location, your policy, you can check to see what valuables are covered, and where they are covered. It’s also possibly to take out stand alone contents insurance for your caravan with some insurance providers.
How Much Should I Expect To Pay For Caravan Insurance?
Generally, the more valuable your caravan is, you can expect to pay a higher amount. Among other things that can determine your premium are:
• The make and model. The newer it is. The higher you pay.
• How secure your caravan is, using either accessories or trackers, or both. (Trackers could be a policy prerequisite).
• The location of your caravan when not in use. The safer the area you park your caravan in, the lower your premium could be.
• Value of your valuables inside the caravan. The higher the amount, the more you pay.
• Where you live and what your age is could also make a difference to the cost of insuring your caravan.
Summary – aka Should I Get Caravan Insurance?
Hopefully, we have convinced you sufficiently to make the right choice. In our opinion, getting your caravan insured will make life that much less worrisome and covers you should the worst happen.