When buying insurance, it is essential that you consider a number of factors. If you do not do this, you may not take out the correct insurance for your caravan.
The most important consideration when purchasing insurance is the cost of coverage. In addition, you need to understand exactly what you get in return for the price you pay. If you do not choose adequate insurance cover for your caravan, you could lose the money you invest in your caravan if it is stolen or accidentally destroyed in some way.
Your chosen caravan insurance must include replacement of old for new. It must cover all fixtures, fittings and contents of the caravan. In the event that these parts of your caravan are stolen or destroyed, you should be offered replacement parts at the current market price of the items. This old for new cover may only be available on caravans of a certain age. To determine whether the caravan insurance you have chosen offers sufficient coverage, you must value the contents of your caravan in addition to the caravan itself.
If you cause damage to third party property or injure someone with your caravan, you will need liability insurance. Liability insurance is also mandatory if you rent out your caravan to others and a private individual sustains injury during their stay in the caravan.
The cost of caravan insurance differs greatly between the different insurers. Some caravan dealers offer caravan insurance for people who buy a brand new caravan. It is always advisable to compare the cost of caravan insurance online before purchasing a caravan policy. If you want to compare the price of caravan insurance, there are several price comparison websites ready for you. However, you can also compare policy prices by calling individual insurance companies directly. Some insurance companies do not advertise on price comparison websites. As such, the policies of these companies may need to be examined individually. Many caravan owners find that they can get cheap caravan insurance by taking out their insurance with an insurer with whom they have taken out other types of insurance in the past.
After comparing different insurance quotes, you should pay attention to the fine print of the policies. While this may seem like a chore, it is an essential task as this is the section that contains information about the exclusions and limitations of the policy. The fine print states the cost of the deductible that you must pay yourself when you file a claim. Every caravan insurance company, including caravan dealers, determines the minimum amount that you must pay yourself if you submit a claim. If you take out insurance with a costly deductible, you will benefit from advantageous monthly insurance premiums.