2 minute read
Did you know...
you must regularly check your values under new for old cover?
At Cover4Caravans, one of the policy benefits that we are very proud of is the fact that we offer new for old cover on your touring caravan for up to 5 years and, for static caravans, up to 10 years (regardless of the number of previous owners).
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This means that if you bought a caravan in 2019 and this year it is stolen or damaged so badly that it needs replacement, in the event of a successful claim, you will get your tourer / static home replaced on a new for old basis.
What you need to be very careful of is that the value stated on your policy schedule maintains the current cost of your caravan if you were to buy a new one today. The cost of new caravans fluctuates, so you need to ensure your policy always reflects the correct new for old values to guarantee you are fully covered.
Soaring caravan costs
Caravan costs soared last year due to an increased demand (as post-Covid, people turned to staycations); a lack of stock (factories were closed for a good part of 2021); plus, the price of everything has gone up, parts included.
So, if you bought your touring caravan for £16,000 4 years ago, is it still worth £16,000 - or would it cost more to replace it?
When considering the sum insured value under the new for old section of your caravan insurance, you need to think about how much it would cost to replace your caravan at today’s prices – not its resale value. Of course, the price to replace your ‘van may have actually gone down, so let your insurer know - you could save money on the cost of your caravan insurance premiums.
How to find out the current value of your ‘van
If you want to check the current value of your caravan to ensure you have the correct sum insured amount, speak to your caravan dealer – they should be able to help.
REMEMBER: In the case of new for old replacement on your caravan, in the event of a successful claim for loss or irreparable damage, you will not receive an amount more than what is stated on your policy schedule.
Where’s Relle the Rabbit in the picture above
Answer on back page
What our customers are saying!
‘Stunning service’
At
Cover4Caravans,
our aim is not only to find you the most suitable and cost-effective cover for your ‘van, but to provide a first-class service. Following is some genuine feedback via Feefo from some of our customers.
It has become normal to expect mediocre service nowadays, but my dealings with this company have been truly magnificent. I bought from them based on cost and cover initially. However, their services standards when it came to handling my policy set up, followed by later queries and amendments has been fantastic.
‘ Easy Company to deal with. No fuss’
Such an easy company to deal with. Compared to others especially the clubs everything was straight forward.
‘ Excellent service which is cost effective’
Easy to get a quote and speedy service on the phone with a competitive rate. Friendly staff who are knowledgeable and helpful.
‘ Easy transaction at a great price’
Excellent price. Helpful & well informed advisor who explained everything that I was unsure about. Very simple & straightforward buying experience. Will use them again.
‘ Easy online experience’
Very helpful, patient and friendly person who dealt with my queries. A fair and competitive price for the annual insurance policy for my caravan.
