Home News A Complete Guide to Caravan Insurance

A Complete Guide to Caravan Insurance

Image owning a personal home away from your own home, available every time you wish and as long as you want. While it is easy to see the appeal of having your own place, caravans represent an important financial investment. So it can only be natural that you might want to offer protection to your caravan through insurance.

If you own a permanently located caravan with a permanent electrical and plumbing system, you may get insurance coverage to regular home insurance.

As a matter of fact, many holiday parts need you to have a basic cover, which may include public liability insurance policy. But this isn’t legally required.

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Types of Caravan Insurance

Many insurance providers provide policies personalized for every kind of caravan insurance. Some of the examples of caravan insurance are:

  • Static caravan – This covers every caravan that is permanently sited at one location, normally at holiday parks. While it has evolved from caravan to prefabricated bungalows, this kind of holiday home is still called static caravan insurance.
  • Touring caravan – This is a kind of cover that you can tow behind your park and car at different locations. Your insurance can include third-party coverage, which applies when towing.
  • Park home insurance – It is very specific for all-year-round residents that are permanent. They are located in residential parks, which can be private gated communities.
  • Mobile home insurance – This is another name for a static caravan, covering a prefabricated holiday home with a permanent location. Although they hardly move, a static caravan holiday home is still considered a mobile home.

What Caravan Insurance Covers

Caravan insurance covers vary from one policy to another. However, most of them include coverage for loss because of fire, crime, severe weather, destruction, or damages.

It is also important to go through the terms and conditions of your insurance to determine what it covers and what it doesn’t.

How Much It Costs

The amount it will cost you to buy caravan insurance depends on a few aspects. These may include the insurance value, contents, veranda, decking, and new for old vs. market value.

While it is difficult to know the estimated cost, several tips can help you to keep the costs downs. One of the tips you need to consider is determining what you want to cover.

Market Value vs. New for Old Cover

Market value basically means your caravan will get insured for what it is worth currently. So if you purchased the property for $25,000 and it got stolen two weeks later, you will receive the same amount from the insurance firm.

But if your caravan is 12 years old and its worth is about $10,000, then that is the same amount you will receive from your insurance to buy the same property of a similar age.

When it comes to new for old, you may get about $25,000 at any point, even when it is 12 years down the line.

The Takeaway!

Caravan insurance is always there to offer your caravan protection against anything that may happen while on site.

Insuring your property is not required legally. But it is necessary to protect it from all forms of risks, including theft.

A Complete Guide to Caravan Insurance 2
Elaine Howell
Web fan. Beer fanatic. Explorer. Coffee ninja. Pop culture buff. Hipster-friendly food trailblazer. Skydiver, feminist, audiophile, hand letterer and AIGA member. Working at the crossroads of modernism and intellectual purity to craft delightful brand experiences. I prefer clear logic to decoration.

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