Hi, my name is Ben Leach and I’m an advisor for Towergate.
In this video I’m going to talk new for old caravan insurance.
The main objective of insurance is to put you back in the financial position you were in before the loss of (or damage to) a personal asset.
Our new for old cover however, offers you a little bit more.
If you’re a Towergate Gold policy holder, instead of replacing the caravan with a model of the same age, we’ll replace your caravan with a brand new equivalent model in the event of a total loss where your caravan is stolen or damaged beyond repair.
If your caravan is less than five years old we strongly recommend that you take out our Gold policy to take advantage of this policy feature. Naturally, the newer your caravan, the higher in value it will be so it’s worthwhile having quality cover in place.
So how does it work? Well, when you take out a policy with Towergate we’ll ask you for the “as new” value of your caravan. That means if we were to find your caravan in a catalogue or on a dealership forecourt, the price the caravan is currently being sold at will be used as the replacement value of your caravan.
We can settle your claim in the way which suits you best. We can organise for your caravan to be repaired, replaced or we can pay out a cash settlement.