Although it's important to make sure you have the right level of cover for your touring caravan, it's just as important to make sure you're getting the best deal. Here are our ten best tips for keeping your premium low.
1. Look around for the best deals
This comes in at number one for a reason - shopping around it's good advice and the best way to get low prices, not just for caravan insurance. At Insure My Caravan we've done the shopping around for you so that all you need to do is give us some details about yourself and your caravan, then our systems will automatically gather quotes from the best known caravan insurance providers throughout the UK.
And that's not all. If you find a quote that's lower than one you get here, for the same insurance, call us and we'll do our best to beat it.
2. Tickle excess amounts
As with most insurance policies the higher the excess you can put up with, the better the quotes you get will be. This is the amount that you pay if a claim is made, with the insurance company making up the rest of it.
Here you can see this in action because you can try different excess settings, then get your quotes and see the changes it makes to the various companies' quotes. It only takes a few clicks to assess the difference your choices make.
3. Cashflow is important
Once you've chosen the right insurance from the list of quotes you've been offered you can, as long as it is more than a certain amount, pay in twelve monthly instalments with a direct debit.
It's important to realise that this doesn't actually make your insurance premium lower, in fact, as there's a small amount of interest to pay, it will cost slightly more. But being able to pay in smaller amounts throughout the year, rather than paying the whole lump sum up front may well help to make your caravanning more affordable and manageable.
4. Don't pay more than you need to
Accurate estimates of replacement values for your caravan and accessories are critical. If not you could find, should you be unfortunate enough to have to make a claim, that you won't get enough compensation to replace or repair everything.
Because higher valuations mean higher premiums, people are often tempted to undervalue. If you do need to trim your touring caravan insurance costs as much as possible, consider whether you should put all your accessories on the policy. If some things are in bad condition or very old, maybe it's not worthwhile covering everything?
5. Replacement or new for old values?
Many caravan insurance policies will allow you to choose between two valuation options. "New for old" means you will be compensated by an amount that will allow you to buy a new equivalent of the caravan or accessory that is being claimed for.
"Replacement value" is usually cheaper because you'll get the second-hand value of an item, not enough for a new replacement. With this you can replace your possessions but you'll have to get them from ebay or the classified ads. Choose whichever type of cover you are comfortable with.
6. Security counts
Nearly all the touring caravan insurance policies we feature will discount for extra anti-theft devices and systems.
What you fit depends on where you store your caravan but security posts, hitchlocks and wheel-locks are excellent and trackers and alarms should get even bigger discounts.
7. Store securely
Leading on from the previous point about caravan security, storage locations can affect your premium too.
Look for sites affiliated to the Caravan Storage Site Owners' Association (CaSSOA). They assess each site and award bronze, silver and gold accreditations depending on the measure taken to prevent fire and theft. But make sure you balance the cost of using a secure storage facility against the insurance premium discount.
8. Do you need to claim?
With caravan policies a no claims discounts, just like a car policy, is a big part of keeping premiums low.
So if there is a minor incident that results in a loss or damage that's relatively low value, it might not be worth claiming if you've built up a large NCD. This is particularly true if you've chosen a large excess as well.
9. Club memberships
Another trick for getting another little discount is to become a member of a national caravan club. Membership of the Camping and Caravan Club and the Caravan Club will be recognised by most policies.
10. Towing courses
The last one is not that well known - taking relevant courses will show that you value learning to control your caravan and are therefore a lower risk. On our system the recognised qualifications and courses are from:
- The Camping and Caravanning Club
- IAM (Institute of Advanced Motorists)
- The Caravan Club
- HGV driving courses (various commercial providers)
Don't skimp on cover
So that's our top ten list. We hope you enjoy your carvaning and that you find a good balance of economic premium and the right cover.
We hope you'll never have to make a claim, of course, but if you do, please make sure you've not under-covered in an attempt to save money on the premium. Your enjoyment could be severly hampered if you can't repair or replace your caravan or accessories, and have to downgrade.