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Caravan Insurance Explained
To many people, owning a caravan offers them freedom never before experienced. A caravan represents a chance to travel on the open road and visit new places with many of the creature comforts from home. A caravan is a significant monetary and emotional investment that people make and it needs to be protected. Caravan insurance can offer that protection.
Who is a potential candidate ?
Anyone who owns a caravan should consider taking out a policy. You could use it every week or once a year, it really doesn't matter as damage could occur at any time. Comprehensive insurance protects you even when it is parked at home so you can enjoy complete peace of mind. The cost is miniscule compared to the cost of repairing or replacing it.
What typically does it cover?
Most policies cover accidental damage as well as contents that is either caused by a collision, adverse weather or burglary. If the damage is significant, an equitable replacement is normally provided. You also should have limited medical coverage if you are injured whilst in your caravan.
A policy should also includes liability insurance should a third party's property be damaged by your caravan. You should also be covered for medical and legal costs in the event of injury or death to a third party.
You will also be covered if your caravan is to be kept permanently on a site, like a caravan park, though you should tell your insurer this so they are made aware your situation.
What typically does it not cover?
If damage prohibits you from using it you will not be compensating for accommodation costs unless you take out extra coverage.
Damage to awnings and external fittings are not normally covered unless the caravan was damaged at the same time.
They are usually only covered if they are in their original condition and used for caravanning. If you have converted your caravan for business purposes, or the caravan has been largely modified or is used as a permanent dwelling then you will not be covered by a standard caravan insurance plan.
Additional coverage that policy holders might take out in this area
The cover you receive for the contents will be limited. Usually the amount of cover the caravan insurer offers for the contents in adequate. In most cases you can extend your cover by checking to see if your home contents insurance covers the contents of your caravan.
Caravan usage is normally linked to travel and holidays. It is wise to take out travel insurance even for short caravan journeys as the list of inclusions is far more comprehensive than with caravan insurance alone.
They are often used far away from home but normally you will not get your caravan towed home if you are more than 100 miles away. In the event of a breakdown, you will want some kind of peace of mind and this extra coverage is an option.
What will it typically cost?
The price is determined by the value you would like insured, the amount of cover you need and the location the caravan will be permanently garaged. You could pay around 2% of the value of your caravan per year as insurance but can vary massively between states and insurers and policies.
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