Caravan Cover question?

Surfer
Surfer Forum Participant Posts: 1,302
500 Comments
edited October 2020 in Club Products & Services #1

Some of you have Caravan Cover and I am very wary of it as it is not insurance cover however decided to get a quote anyway.  BTW the main difference between the quote and other quotes seems to be the fact that you do not pay a premium tax.

I am only looking for clarification in case I have it all wrong regarding the CMC Caravan Cover not being an insurance policy.  

At the top of the quote it distinctly states "Caravan Cover" however at the end of the quote it refers to the obligations of the CMC and used the word "insurance" numerous times and not Caravan Cover?  There is also reference to the FSCS and claiming compensation however this only applies to insurance?  Wording is as follows;

 What Do I Do If I Have a Complaint about the Club’s Insurance Services?

Please contact us using the contact details above and if we cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS). Further details may be obtained by contacting the FOS on 0800 023 4567 or by visiting their website: http://www.financial-ombudsman.org.uk/

Who Regulates the Caravan and Motorhome Club?

Caravan and Motorhome Club is a trading name of The Caravan Club Ltd. which is authorised and regulated by the Financial Conduct Authority (FCA) for general insurance mediation and credit activities. Our Financial Services Register number is 311890 and you can check this on the Financial Services Register by visiting https://register.fca.org.uk/ or by telephoning the FCA on 0800 111 6768 or 0300 500 8082.

Is the Caravan and Motorhome Club Covered by the Financial Services Compensation Scheme?

Yes we are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations relating to our insurance and credit activities.

Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk

 

Taking into consideration the above, my view is that the Caravan Cover is not covered by FOS or FSCS as it is not an insurance policy?  You can only claim if you have issues with a DD which is a credit agreement. 

As said I an just trying to get some clarification.

 

Comments

  • SteveL
    SteveL Club Member Posts: 12,300 ✭✭✭
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    edited October 2020 #2

    This was debated fairly extensively in THIS THREAD at the end of last year. It may be of some use.

  • Surfer
    Surfer Forum Participant Posts: 1,302
    500 Comments
    edited October 2020 #3

    Thanks but with over 750 posts too long to read plus conflicting views.  If it is Caravan Cover why on the quote emailed to me to they refer to insurance as per my OP when it is not insurance. That part is confusing me?

  • yellowbelly
    yellowbelly Forum Participant Posts: 32
    edited October 2020 #4

    Why don't you ask the Club?

    The answers you will read on CT are more likely to be speculation or just plain wrong than having an informed answer from EGH staff.

  • Unknown
    Unknown Forum Participant
    edited October 2020 #5
    The user and all related content has been Deleted User
  • davetommo
    davetommo Forum Participant Posts: 1,430
    edited October 2020 #6

    If I was you I would phone them up and ask the questions

  • Surfer
    Surfer Forum Participant Posts: 1,302
    500 Comments
    edited October 2020 #7

    Last year when I thought I was taking out insurance I cancelled as they did not reply to my email regarding No Claims plus the fact that I then found out that we were not actually insured. At no time during the conversation was I told it was Caravan Cover and not insurance despite me using the term probably frequently during the conversation.
    I thought that this year I would try them again and went through everything and also phoned and spoke with a rep. I eventually agreed to the Caravan Cover and asked for the documents to be posted out to us. This was all done last Monday and no sign of the documents.
    I did ask about the reference to insurance at the end of the quote, but did not get a satisfactory answer. Sometimes it is difficult to put yourself across correctly on the phone and even more difficult to understand them as they blabber on and on and if you try and stop them to claify a point, they simply talk over you.
    I must admit I am still very unsure about this Caravan Cover and whether we have done the right thing by accepting Caravan Cover rather than insurance.  Th eother concern is if we decdie to move across to an insurance company in 2 years time, will the insurance company accept theNo Claims Bonus?  Another concern is that the club has probably lost a lot of revenue due to the Covid19 so will it be able to meet its commitments if a claim is necessary?

  • JVB66
    JVB66 Forum Participant Posts: 22,892
    1000 Comments
    edited October 2020 #8

    I think the revenue question is it should not be problem as any company with there own cover has to legally  be adequately "insured" to cover any costs should there be a shortfall

  • Wherenext
    Wherenext Club Member Posts: 10,586 ✭✭✭
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    edited October 2020 #9

    You shouldn't worry about transferring the no claims bonus as there are other "insurers" who operate the same way as the club as they are counted as Mutuals. This is principal reason the club cannot call it insurance due to regulations governing Mutuals. Other insurers will accept the bonus.

    I wouldn't worry about the liquidity of the club either. Their exposure to a major catastrophe is minimal, plus they have a Reinsurance policy in force should the unforseen become reality.

    Insurance, or in this case, cover should put the customers mind at ease so if this hasn't done it for you then cancel it if you are still in the days of grace that allows this and move to someone that can give you peace of mind.

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