Save Money on Caravan Insurance
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Own a touring caravan can be very liberating experience. Being able to take yourself off to anywhere at the drop off a hat appeals to many. As a result, owning and insuring your caravan has become more and more popular, but how do you know where to get the best deal, and how can you save money on your caravan insurance? After all, one of the reasons many people own a caravan, is to save money on accommodation costs by investing an initial outlay in the actual caravan! Huge annual premiums paid to insurance companies will negate those envisaged savings!
Here are some tip tips on how you can save money on your caravan insurance policy and get the best caravan insurance quotes.
Top Tip 1 – If you are insuring your contents and belongings under a caravan insurance policy, you should check with your home insurance provider to see if these items are already covered under that policy. If not you should ask them if they can be covered whilst you are using the caravan and ask them to quote accordingly if they can. They may not be able to provide this extension, but it is worthwhile asking them. The additional premium they quote may in fact be less than including these items under a standard caravan policy. So check your existing insurance policies and pick up the phone and speak to a member of staff. You never know what they can do for you by actually speaking to them!
Top Tip 2 – Negotiate. Insurance companies will want to keep your business for as long as possible. So when your renewal invitation arrives, pick up the phone and speak with them. If the premium has risen ask them why. Tell them you want the same premium offered as the year below as your own costs have increased also. Ask them to reduce their fee or even remove their fee. The latter may be pushing your luck, but you will be surprised how many insurer will do just that to keep you.
Top Tip 3 – Take you insurance to an insurance broker. Brokers are much more flexible in their approach to both retaining customers and to getting new ones! They will have access to various different insurers where insurance companies will sell their product alone. Price comparison sites will only show the providers they have deals with, and will not show you the whole market. Generally speaking an insurance broker will have access to a much larger panel of insurer and will do all of the work for you – let them Compare Caravan Insurance Quotes for you!. The also usually have better scope to reduce premiums and save you more money.
Tip Tip 4 – This post is about saving money, right? Did you know when you need to make a claim, an insurance company will send out what’s called a Loss Assessor to the caravan? Did you know a Loss Assessor is an agent of the Insurance Company and not working FOR YOU the customer? Here is the important part – an insurance broker is the agent of the customer! An Insurance Broker can appoint a Loss Assessor to work FOR YOU & not the insurance company. You can see the difference here, and you can also see which one will try and get the best settlement for you and which one will attempt (within the rules of course) to mitigate the insurance company costs! After all, a third party Loss Adjuster contacted by the insurer who pays out everything and everyone with zero repudiated claims, may not be given that contract the following year if the settlement volumes seem excessive! So think about who you are insuring with. Getting a fair settlement and not having to argue every aspect of a claim to prove your point (the broker will do that for you) seems a good approach, and means more money in your pocket (and a lot less stress).
Top Tip 5 – Think about what cover you actually want. You know where you live and where you go with the caravan better than any insurance company. If you live in a leafy suburb you may think the risk is so low that you don’t even want to insure the caravan whilst it is on your driveway (however it is sensible to do so if you have an expensive caravan & we recommend protecting your asset in any event). You can have your third party liability insured under the towing vehicle when you are going From A – B with the caravan – just make sure you inform your car insurer when you tow the caravan first. Not telling them can invalidate your insurance cover.
Top Tip 6 – Talk to Property Insurance Centre. We are insurance brokers and have been trading since 1976. On average we save customers 23% on their caravan insurance policy. We have a team of experienced and qualified staff, and we work for YOU in the event of any claim you may have. Call us on 0800 085 3761 for a tailored quote.