New for Old Insurance

creekseacaravaner
creekseacaravaner Forum Participant Posts: 9
edited January 2020 in Club Products & Services #1

We had a caravan insured with the club for since 2008 and always had a new for old policy at an much higher premium. Imagine our surprise when we had an accident this year in France that it didn't pay out as we expected. It appears there is an obsolescence clause in the policy, stating that if the parts are not available the insurers will only pay out for the last known value of those repairs leaving us with an unsalable  damaged caravan that can only go to the salvage yard.

I accept that I should have read all the terms and conditions within the policy but who does?

My major complaint is the Club is for its membership and generally the membership feel the club looks after them. Surly the club has a duty of care to sell them the appropriate insurance if the caravan is getting on a bit why sell them a very expensive policy knowing that in all likelihood that clause would be invoked.

I have mentioned this to several of my caravanning friends and they were in ignorance as well and wont be renewing this policy. I would be interest in comments from our club.

 

Comments

  • EasyT
    EasyT Forum Participant Posts: 16,194
    1000 Comments
    edited January 2020 #2

    I think that is standard with most caravan insurers. 

  • Unknown
    Unknown Forum Participant
    edited January 2020 #3
    The user and all related content has been Deleted User
  • GKD
    GKD Forum Participant Posts: 1
    edited April 2022 #4

    It’s not insurance for several years now, but very expensive despite that, but merely cover and the club decides what they will do so it’s not normal conduct as by an insurer. That’s why after 12 years moved to very highly rated 5 ⭐️ Caravan Guard that was also couple hundred pound less and gave us higher cover! 

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