Touring caravan owners should know what the elements are that make up any insurance policy they take out. The elements of a policy are Contents, Continental use, Damage and Loss, general exclusions, Excess, and Liability to the public. It is my intention to offer an insight into the policies different parts in this article.
Damage and Loss – this covers the caravan, normally up to its full value, for damage to or loss of the caravan. If you have a caravan normally up to 5 years old you can get new for old cover, which will provide you with a new caravan. Older caravans require Market Value cover, which means that if it needs replacing, it will be to the going value of your old caravan.
You often have to pay extra for contents and personal effects cover, and beware that it is normally limited in the things it covers. You will often find the following excluded: valuables; credit cards; bikes; photographic equipment; computers; phones; valuables. Policies also differ in whether they cover theft from trailer and toilet tents, and from awnings, and will only cover theft from forcible entry.
The policy will also cover injury or loss to a member of the general public from your use of the caravan. This cover will normally extend to people who have borrowed the caravan, as long as it is not hired to them, and they are not using it for business purposes. Normally the coverage is between 1,000,000 and 2,000,000, and sometimes includes costs, but not always.
Continental use coverage is required if you intend to travel to mainland Europe, and does not always come as standard. Roadside assistance (to a maximum amount) and repatriation of the caravan (to its insured value) is included in some policies. Some countries are normally excluded from the cover, mainly the former Soviet Block countries (e.g. Poland, Albania, Bulgaria… etc).
Excess is the amount of a claim that you must pay yourself, before the insurance company will stump up any cash. For instance, if you had an excess of 100 and made a 300 claim, you would get 200 from the insurance company. Increasing the amount of excess on your policy is one way you can save money on premiums.
You should be aware of the general exclusions of a policy, despite the fact that many of them are exceptional events. Pressure waves from supersonic aeroplanes, terrorism and hostilities are several of these, but importantly so is use other than social, domestic or pleasure. The many different caravan insurance policies generally offer the same general exclusions as each other.
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