Caravan Insurance Renewal
We have just had the renewal for our caravan insurance and I am pleased to say that caravan guard are, due to coronavirus, automatically allowing a 10% increase on last year's insured amount. It is good to see an insurance company making an effort to ease things along in difficult times.
Comments
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Perhaps I am misunderstanding but I am a bit confused by your post. You say a 10% increase in insured amount. When we had a caravan it was either insured on a replacement as new with equivalent van, or on a value only basis which generally depreciated year on year.
Are they saying they think the price of second hand vans has increased due to covid making caravaning more popular? Certainly possible I suppose. However of course, whatever value is put on it, you may or may not get that after they have fully assessed the claim.
27% seems a bit steep. As claims would almost certainly have been down this year, as no one was going anywhere.
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A strange thing this evening, a phone call from Caravan Guard apologising for sending a renewal with the incorrect figure on it. My new premium should have been a value only (only!!!!) 11% higher than last year.
Perhaps they monitor the forum and were embarrassed by the increase.
Time to look around for a better price!
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If you have new for old cover, which we do, you need to let your insurers know the current value for a replacement, including all equipment covered, each year or you will find yourself under insured.
This year, as I mentioned they are automatically adding 10% to insured amounts which may save me from looking up current prices and phoning to make sure I have the correct level of cover. But this offer is rather shallow when the price of the policy has gone up by 11%.
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I have just had my insurance renewal come through. Very disappointed about the price, so have been on a comparison site and guess what???. I have changed company's and saved a around £50. So, come on caravan club ,start to show some loyalty to your members.
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Try that but try negotiating a discount with your current insurer as well once you get them as it may end up cheaper and with a lot less hassle. I accepted a quote recently for my motorhome from Compare the Market and ended up paying more than the quote from my original insurer due to having to make numerous phone calls and having to send send 2 lots of photocopies of my driving licence and other proof of no-claims as they could not find my e-mailed ones nor the first lot which I sent them by post, plus they also charged me more than the quote had been on the comparison site.
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It has become the norm these days to get your renewal and the premium has been bumped up. I have stopped phoning for a chat as I have found it simpler and more profitable to simply change supplier. Suppliers who do the bump dont deserve to be asked in my opinion. The old idea of staying with a supplier for their good service etc, has ended so shop around every year. It is the only way now I'm afraid.
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