Caravan Insurance - Understanding The Differences
Whether you own a touring caravan or whether you own a static caravan
, you'll no doubt want to make sure it's adequately insured, because after all, caravans are expensive commodities. Not only that, but they're also amazing things to have.One of the very first things you'll discover when you start shopping around for insurance is that insurance policies for touring caravans are by no means the same as they are for static caravans.
What's the Difference Between a Static Caravan and a Touring Caravan?
Static caravans are often transported to a camping site on the back of a lorry. They are relatively large and are most often left at a particular site on a permanent or semi-permanent basis. These are the ones you see at camp sites, complete with a perimeter fence, a small garden, and even a patio. Touring caravans on the other hand are those which you frequently see being towed behind cars. In fact, during the summer months, caravans can be seen all over the country as families take advantage of the good weather. They are incredibly popular and their popularity is growing all the time.
Insurance companies and Static Caravans:
Because static caravans tend to stay on one particular location only, they don't pose much of a risk to insurance companies as far as road accidents are concerned. They're also less likely to be stolen than what touring caravans are, but with that said, they are more vulnerable to break-ins and vandalism. They're also more likely to get damaged in a storm, because of flooding, or even because of a fire. These are all things which insurance companies take into consideration when you apply for caravan insurance.
Insurance Companies and Touring Caravans:
Touring caravans are to a certain extent considered to be 'risky business' as far as insurance companies are concerned. Not only are touring caravans more likely to be stolen, but because they spend a great deal of time on the roads, there's an increased risk of accidents as well. Additionally, many touring caravans also get broken into and vandalised.
Touring vs. Static In Terms of Insurance Costs:
Generally speaking, if you had a touring caravan and a static caravan which were equal in value, the touring caravan would cost more to insure. With that said, you can still find affordable caravan insurance even if you have a touring caravan. In fact, providing you are able to meet certain criteria, insurance for a touring caravan can even end up costing less than it would for a static caravan.
How Is the Cost of Caravan Insurance Calculated?
Simply put, it all boils down to the value of your caravan and the type of cover you opt for. Some insurance policies are based on 'market value', while others are based on a 'new for old' approach. The 'market value' type of policy is generally cheaper, but of course if your caravan gets destroyed, the insurance company will only pay you the market value, which in turn will always be less that what you originally paid. If you take out a 'new for old' type of policy, your insurance company would pay for a brand new caravan, irrespective of what your old one was worth.
The overall value of the contents will also have a direct impact on the cost of your caravan insurance if you've chosen to have the contents included in your policy. There are also several other things which influence the cost of cover so it's always wise to discuss things with the insurance company before you sign anything.There is much you can do in order to ensure you get the lowest possible rates, but it does require a certain amount of effort on your part.
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