If you shop around and compare caravan insurance, it is not long before you realise that the cost of protection often differs between providers. In some cases, it may vary by a great deal. So why is this?
- one of the reasons why the cost of caravan insurance typically varies is the level of insurance you choose to take out. Just as with car insurance, there are different levels of protection. You may choose to take out a policy that comes with all the “bells and whistles,” or you might take out a basic policy that gives little protection, other than fire and theft. As you might expect the fully comprehensive insurance policy is typically the most expensive;
- the amount of insurance (the ‘sum insured’) you choose to take out may contribute towards your caravan insurance price. While it is imperative not to over insure, as this may boost up the cost, it is also just as important not to under insure. If you under insure just to keep down the cost of your caravan cover premiums then you may lose out if the worst were to happen and you found you were not protected;
- •he type of caravan you need insurance for may make a difference to your premiums. If you want insurance for a German model for example, then you may expect to pay more for the insurance than if you were insuring a UK model of caravan;
- your caravan insurance premiums may be affected by the benefits and features in the policy. This may for instance include European insurance (continental cover) and the amount of cover given;
- how much public liability insurance is included in the policy may affect the cost;
- even the way you pay your insurance may be taken into account. Paying for your insurance in a lump sum rather than paying by direct debit may sometimes lead to small savings on the cost of your caravan insurance.
While the caravan insurance price may be a consideration, it is just as important to ensure that you do take out the correct policy. Always put your needs for insurance into account over and above taking out the cheapest possible policy. While we all like a bargain, buying cheap caravan insurance that only offers a limited amount of cover may not be a good idea.
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on Tuesday, March 9th, 2010 at 11:56 am and is filed under Caravan Insurance.
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