Static Caravan Insurance - Don't Forget The Contents!
One of the most ironic things about insurance policies is that the average person
is quick to compare prices, and yet many don't even bother comparing the actual provisions within the different policies.After all, it's rather pointless taking out a policy based on price alone, particularly if it means you won't be able to rely on your insurance if you ever find yourself on the receiving end of a disaster.
In this short article we'll discuss a few things which you should ideally take into consideration when comparing static caravan insurance quotes.
Generally speaking, static caravans are usually more equipped than touring caravans. The average static caravan nowadays is usually furnished in much the same way as a regular home would be. Most will have at least one TV, and in many cases it will be one of the latest flat screen models. Additionally, practically all static caravans have ovens, refrigerators, cookers, DVD players, audio systems, and etc. These are all things which need to be included within the policy, considering just how much it would cost to replace everything if your static caravan ever gets broken into or if everything got destroyed by something such as a fire for example.
Basically, you need to determine how much all the contents are worth in order to get what is known as the 'sum insured' value. This amount will have a direct impact on the amount you end up paying for the policy, and as such, it's crucial that you provide an accurate estimate to your broker or to the insurance company when you apply for a quote. Many caravan owners end up taking out more cover than what they actually require in the hope that they will receive more compensation if they ever need to make a claim. Unfortunately however, insurers are well aware of such ploys, and if you decide to over-insure your static caravan, you'll simply be throwing your money down the drain. Ultimately, you should draw a list of all the contents, including things such as your CD's, cutlery, linen, chairs, and even the average amount of food in your refrigerator.
Remember, depending on the level of cover you choose, the food within your refrigerator may very well be covered by your policy. After all, if there's a power failure, and you have plenty of frozen food in your refrigerator, the lot could end up becoming spoiled, and while this may at first seem insignificant, it could represent a loss of more than 100 pounds.
As far as the other contents of your caravan are concerned, you need to determine whether your policy covers them on a 'new for old' basis, or whether depreciation is taken into consideration. If your static caravan insurance is based on 'new for old' then it means any items which are destroyed or which go missing will be replaced with brand-new items. If you don't have 'new for old' included in your policy, then the amount of compensation you receive will be based on the market value of the goods at the time they were stolen or destroyed.
This doesn't only apply to the contents of your caravan, but instead, it applies to your caravan as well. In other words, depending on the type of static caravan insurance you chose, you would either receive enough money to purchase a new caravan if your current one was damaged beyond repair, or else you would receive the current market value. For obvious reasons, this is something you need to discuss with your broker or with the insurance company before you commit yourself to a contract.
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