Insurance for caravans differs from that for cars or other forms of vehicles. Insurance for caravans is covered by different laws for various states or regions, it is important to understand what type of insurance is available for your region and what it covers. For most areas or regions, caravan insurance is not made compulsory as against car insurance, but it is always advised to secure one.
Although there are different caravan insurance policies, there are still some common grounds for policies especially about what they cover. Some of what caravan insurance covers are:
- Theft of your caravan either at home, a storage facility or removed from a campsite.
- Theft of personal belongings stolen from the caravan or taken with the caravan.
- Damage to the interior of the caravan as a result of electrical or other technical faults.
- Damage to the exterior of the caravan due to situations like harsh climate or accidents.
- Accidental damage caused by your caravan to a person or property.
All of these are some of the common occurrences whereby the insurance policy is invoked, insurance protects you against losses, damages or injuries that occur as a result of the caravan. Like other insurance plans, a premium is paid at an agreed interval to the insurance company who in turn cover-up for financial demand in the event of a loss or damage.
Types of Caravan Insurance
The type of caravan used as well as the purpose of the caravan form a strong determinant of what type of insurance policy you are going to get for your caravan. There are two types of caravan insurance, touring and static caravan insurance. This is based on the functionality of the caravan.
Touring Caravan Insurance
Touring caravans are normally towed by vehicles, this type of situation fits well under the touring caravan insurance policy for individuals who enjoy taking their caravans for road trips. Several events can occur while the caravan is on the road, from either getting unhinged, colliding with other forms of vehicles etc. the touring caravan insurance policy covers this kind of event.
Static Caravan Insurance
Some caravans are parked at camping sites, holiday resorts or parked at home/storage facilities for a long period. This type of static caravan is prone to theft as there are many reported cases of caravan theft. To protect yourself from financial loss and property loss, an insurance plan is advised to cover the cost of a stolen caravan.
The caravan can also be damaged as a result of bad weather, damages caused by bad weather condition is also covered under the static caravan insurance plan.
Cost of a Caravan Insurance
Several factors affect how much is paid as insurance rates, some of the factors are:
- Type of caravan: Static insurance has a similar policy to a permanent house and has a higher rate.
- Value of caravan: Caravans with higher market values require higher rates for insurance.
- Location of caravan: Areas, where the caravan is stored or transported, contribute to cost, areas with a high case of theft costs more.
- Value of personal belongings: If there are expensive items stored in the caravan, it leads to higher rates.
- Security features: Having extra security features lowers the rate to be paid.