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Static Caravan Insurance
Unlike a touring caravan, a static caravan is subject to geographical risks in and around the campsite it's situated. This can include things like flooding, falling trees in winter and burst pipes. However, the most common static caravan insurance risk is probably theft and accidental damage.
Insuring your caravan through your holiday park group insurance may not be compulsory (check your contract) but it may be cheaper because of the group package discounts. Acquiring a good quality static caravan insurance yourself is now much easier, yet understanding the ins and outs of the insurance isn't always that simple. Here we will give you an insight into the world of static caravan insurance, then hopefully any choices you make when buying your policy will be more informed ones.
How to value a caravan for insurance purposes With any static caravan there are two values of importance when it comes to insuring them. There is the value of the static caravan itself plus any equipment and accessories, and then the value of the entire contents of that static caravan.
The evaluation of static caravan insurance is often quite simple for a static caravan under 5 years of age; normally the retail cost of a new replacement of the same model. Obviously in the time you have owned the static caravan you might have purchased accessories such as a balcony etc, so this must be added to the static caravan value to get the overall figure for insurance.
For a static caravan over 5 years of age, then the static caravan insurance value is considered as the second hand market price of that particular model. But, once again, you need to take into account any accessories and include those into the insurance valuation as well.
How to value the contents of the static caravan for insurance To get the value of the static caravan contents you have to assess the total cost of the household items and any personal effects within the van. (expensive items such as camera equipment and jewellery are more likely excluded). Any future claims against your caravan contents insurance will then be settled on the market value of these items at the time of loss.
House contents insurance works differently to this, it is usually settled on the brand new replacement value of the items at the time of loss.
Tip - It's worth noting that some household insurance policies may already cover your static caravan contents, so do check with your house insurance policy just in case.
How static caravan insurance benefits you As we mentioned before, a static caravan is a valuable asset and probably gives you and your family endless weeks of pleasure throughout the year, so insuring it against the threat from disasters such as floods, winds, accidents, storms and theft will give you peace of mind and leave you feeling a lot more confident. The correct static caravan insurance will give you cover for considerable damage, and perhaps even a new replacement if that damage is beyond economic repair.
If you have a static caravan which is left unoccupied for any length of time then the contents will be vulnerable to the opportunist thief. You might have expensive TV's, DVD players, microwaves and kitchen equipment stored inside, so just like your home contents they would need to be replaced if they were stolen. Most static caravan insurance providers will give you the opportunity to insure for the replacement of the exterior as well as the interior of the van, and you might even get a good deal if you take out both with the same insurance provider.
Things to look out for with static caravan insurance policies If you plan on letting your friends and family use your static caravan then some static caravan insurance policies have certain conditions attached to this. Some will disallow it altogether, while others will cover it as long as there are no rental fees involved. So, if you do intend letting friends use it, do make sure the insurance policy covers you for it. If not, make sure you get a static caravan insurance that does.
Check the insurance small print for the 'new for old' replacement rule. In the event of irreparable damage, this rule stipulates the maximum age a caravan can be before it ceases to warrant a brand new replacement. The figure on most static caravan insurance policies is typically set at 5 years although some policies offer up to 10 years.
If you're sitting a static caravan for the very first time then choose your site carefully. For instance, Is the site prone to flooding from rains or high water? If the caravan site you choose is sheltered and virtually risk free then you could stand to get a cheaper quote for your insurance.
Some static caravan insurance will insist that you use extra anti-theft procedures. This can mean paying for an alarm that connects to park security etc.
Finally, a good insurance company will offer the choice of 'New for Old' or 'Market Value'. This means you can name your own premium depending on the cover you require. For example, if your static caravan is a few years old and only worth 50% of what you paid for it, you can insure it for a brand new replacement (which will cost you more in premiums. Or you could choose to insure it for a payout of what it's currently worth on a market value basis (cheaper premiums).
Static caravan insurance statistics These are the top four static caravan insurance claims.
Tips on static caravan security Write your name, telephone number and postcode using an ultra-violet pen on all fittings and items that can be stripped out from the caravan.
There are plenty of static caravan security devices on the market that help reduce the risk of theft. But probably the best suggestion is not to leave anything of any value on view at any time. Keep the net curtains drawn during the season when you are not there, and in the winter remove all items and leave the net curtains open to show it has been emptied.
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