New for old insurance
Hello
Our caravan is ready for collection from the dealer in a week, so I am now thinking about insurance.
The caravan was built in 2006/7 so 10 years old.
I received 2 quotes from the cc, standard or super. Super included new for old on caravans under 15 years old. This quote was twice the price of the standard.
I am not looking for financial advice, but would like to know people opinion on the new for old option. Do the majority only go for this on new or nearly new caravans?
Comments
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It is a matter of your judgement as to whether you feel the extra for new for old cover is worth your while. I go for it on my caravan but it is only three years old so the difference is not so great. As we bought from new we feel it is a good idea for us but once you get past five years then the extra cost adds up and it is far less clear.
Many older models are not now built so you have to price the equivalent which it is as well to agree before you go on cover. Our last caravan was from Avondale and they were out of business, so we agreed what model was the nearest from other ranges.
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Our caravan will be 5 years in in April and we will amend the cover so as to still receive New for Old.
Previously we had a phantom tracker installed. The deal for the first 5 years of cover more or less matched the discount on the insurance premium. As we have no idea how long we will retain the caravan I suspect that we will not renew Phantom and pay a little more on insurance
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As a newcomer I elected to take out new for old insurance cover on our six year old van and will probably continue with it next year.
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