Premium increase?
Despite hardly using the caravan which is a 2018 twin axle in the past year, CAMC have increased our premium. Granted by not much, but it is still an increase.
I phoned in and modified the values slightly dropping the figure for caravan and associated equipment and increasing contents however overall the total amount was about the same. The premium then increased to over £500 from £480! Many years ago we had a claim and cannot dispute that it was settled quickly.
Considering that when taking out Caravan Cover you do not pay the premium tax in comparison to mainstream insurers, the Caravan Cover works out a lot more expensive for the same cover.
Quotes from the likes of Ripe Insurance are over £100 cheaper and from Myinsurance even cheaper. It makes you wonder why CAMC insist on increasing their prices?
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Prices of everything in all walks of life are set to rocket. Unfortunately, we need to get used to it.
It doesn't matter how little you used your van last year as that has no bearing on this or future years when repair costs and the size of claims is set to leap.
With which of the cheaper companies did you throw your hat in the ring?
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In terms of premium, the crunch will come 12 months down the road at renewal time with another company.
Let us know how you fare.
PS. I guess that's underwritten by Aviva rather than the bus company.🙂
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WE all have different requirements and history, but for comparison.
I've been with many insurance companies including the C&MC, SAGA and Lifesure. Unfortunately the excellent insurance the club offers is beyond my means. When I came to renew in Feb Ripe and Cover4Caravans quoted very similar premium prices to each other. I went with Cover4Caravans [Zenith] who came in at £268 for van, contents and awning on a £25.5K new for old, £100 x/s, European cover etc. This was just over 1/2 what the club wanted to charge.
When you consider how large the club membership is, it's buying power and in effect it's access to a captive audience, it does surprise me that so many of us go elsewhere as they cannot offer a competitive premium
Colin
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It’s a business like any other, EM, it will charge what it can. If it feels it’s got a captive audience, then it’s likely to charge more rather than less.
Having said that, I stand by the points I made earlier regarding rising repair costs and the renewal fees chargeable next year with other 'cheaper' companies.
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I agree about rising renewal premium for 2nd year. Looking back at the different providers, my longest run was with Lifesure who took 7 years before premiums rose by anything more than a few pounds.
Colin
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Bearing in mind that the premium you are being offered by the club does not include Insurance Premium Tax which gives the club a significant cost advantage. The club should be cheaper, not dearer.
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That is one of the points I was trying to put across. The cover may be excellent but the premium is actually higher than many mainstream insurers. We are both pensioners so have to have a good look around at what the competition is offering.
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Just a word of caution.
I haven't checked the clubs policy but in times past if you are insured on a New for Old basis, or even didn't realise thatat is what you are covered for as some people don't check their wordings, then your sum insured on the caravan should reflect the cost of replacing it today with a brand new model so reducing your sum insured may lead to under insurance.
This principle holds true for all insurers that I have insured my own unit with over the years.
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Over £500 that is eye watering. Your van must be worth a fortune or do you not have full no claims discount. Mine came this week up to £326 from £316 for a Coachman VIP 460 2021 model. It will be more after I phone them as the value of the van will have gone up for the new for old cover.
I do get discount for Alko wheel lock, alarm and the alco ATC.
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It is a 2018 Buccaneer Cruiser fitted with AWD motor mover, air con and some other accessories. I now understand why the increase, but why are other insurance companies besides the two I mentioned able to offer lower quotes and their quote includes the premium tax, but CAMC does not include premium tax?
IMHO the CAMC no longer offer value for money on many of its products and seems to be very commercially orientated even though it is supposed to be a member organisation for its members!
I cannot see any differences on a New of Old policies between Ripe, Myinsurance and CAMC except the cost of the premium. We would prefer to stay with CAMC, however due to cost of annual premium may have to change providers.
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My memory may be at fault here but didn't you post something very similar last year, Surfer? If so, how come you stayed with Club Cover?
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Ah, right👍
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As a matter of interested they have Caravan and associated contents and also contents. I tried to find out what they define as associated equipment, but there is no definition.
On contents the maximum they will pay out is £150 for any one item with total maximum pay out on contents £750 even if the contents is under 5 years old? However the Avtex TV would cost about £400 to replace however as it is caravan orientated surely it is part of associated equipment. I would think that contents is stuff like bed linen, cutlery, crockery etc.
This is in the updated version of the cover section 2 - 10? Sorry it is a bit confusing as 10 seems to contradict itself?
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How about as a starter:-
Equipment. items that are fitted to or specifically required to use the caravan, eg motor mover, gas bottle etc
Contents, other items put in or associated with the caravan for the purpose of using the caravan.
Personal possessions, items you may carry or wear in your everyday life, be it at home or on holiday.
Colin
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Hi,
Is that all! Back in 2013 I bought a new single axel c’van for £20K and the CC insurance for that then was £465. In 2016 I bought a new MH and for the last 4 years I have paid just £300 pa for fully comp insurance. Time to change to a MH?
BillC
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