Need some help understanding your static caravan insurance or leisure home insurance? Our guide explains some of the more complex terms used in insurance and offers some advice to make sure you're covered.
Most holiday parks will require you to have a basic level of cover including public liability insurance, but it is not a legal requirement. However, as your ‘holiday home’ investment, there are more reasons to insure your static caravan than simply complying with your park’s terms. This guide explains the ins and outs of static caravan insurance.
If you own a caravan that is permanently sited, i.e. with plumbing and a permanent electrical link up, you can insure in a similar way to your main residence. Put simply, static caravan insurance can: protect the caravan itself against adverse weather conditions and accidental damage; reimburse you for stolen or damaged contents; and cover other items on your pitch.
Static caravan insurance cover can include:
The cost of static caravan insurance varies depending on several factors including:
It's therefore hard to give an estimated price, however, here are some tips on how to keep the cost of your static caravan insurance down.
Consider how you use your static caravan – Do you hire out your static caravan? Do you keep valuable possessions in your static caravan?
Ask yourself all these questions and be sure to let your Towergate adviser know about your requirements. We’ll then work with you to find the best insurance solution to suit your needs.
Consider what you need covered – Your sums insured will be split into two values. The value of the static caravan, and the value of the contents (permanent fixtures and fittings will be included in the value of the caravan itself). We will also cover outdoor items such as decking and outdoor furniture provided it’s contained or stored within the boundary of your pitch. Note, personal possessions and valuables are different to standard contents and you will need to ensure you have specified anything of value above the £300 single article limit.
Know the value of your static caravan – You will need to know either the market value of your caravan or ‘buy-new’ value, depending on whether you wish to select new for old, or market value. The value of the static caravan is just for a replacement unit and not the pitch itself. A brand-new home should be easy to value, however if you have bought second-hand or have an older model, it’s best to ask your site manager or an agent.
Be rewarded – As a Towergate caravan insurance customer, when you refer a friend to us, and they take out a new policy, you and your friend get £20 each worth of Love2Shop vouchers.
Simply visit our Refer a Friend page.
Terms and conditions of refer a friend offer: The introducing customer must be an existing Towergate policy holder who has been on cover for at least 30 days. The offer applies to touring and static caravan, Park Home and Beach Hut policies only. The new policy holder must be on cover for at least 30 days before the vouchers are posted. The recommended customer must provide a valid policy reference number from their friend. The offer will expire on 31.12.19. The offer can be withdrawn at any time.
Be demanding – We’re here to help you get the best policy for you. If you need particular cover, let us know so we can help you ensure you have sufficient cover.
Be sure to tell us if you need to update your policy – Life moves quickly and no doubt as your family grows and changes your needs and possessions will change with it. Make sure you keep us up to date if your insurance requirements change and you need to take more items away with you, or you modify your static caravan in some way which affects its value.
Should you need to make a claim, your excess is the amount you are required to contribute or will be deducted from your final settlement. There are two types of excess, standard and voluntary. Your standard excess is the amount set out by your insurer, and voluntary is an additional amount you are willing to contribute or sacrifice from the final settlement.
At Towergate we offer a standard excess of £75, with the exception of claims relating to hiring out cover with a £250 excess, and ground movement which has a £500 excess. You can also choose to include an additional voluntary excess amount between £75-£250. Note, with voluntary excesses this can sometimes help lower your premium.
You’ll find the full list of policy exclusions in your policy documents. However, we want to point out a few key exclusions:
When taking out insurance, alongside values for the static caravan itself and the contents, with Towergate Insurance you are automatically covered for re-siting up to £10,000.
It’s the extra cost of getting the static caravan back up and running for you. If you were to have a total loss, for example if a fire were to occur and your static caravan needed replacing completely, it would be the cost of:
Your static caravan is your home from home. Therefore, it's likely you would want to keep some creature comforts around you for the duration of your stay.
'Contents sums insured' is as it sounds, and refers to the value of insurance for your static caravan contents. This means that should an item be damaged or stolen, your insurance will either replace that item or make a settlement for you to replace it yourself.
The most important thing when calculating your sums insured is making sure you have the right amount insured. This is particularly important in the event of a total loss claim. If for example your static caravan has a serious fire and you need to replace five thousand pounds' worth of furniture, electrical goods, and clothes but you’ve only covered yourself for four thousand pounds worth of items in your sums insured, your policy would not be able to pay out for the £5,000 you need to get you back in the same financial position you were before the fire.
To help make sure you aren’t underinsured be careful to include all contents and consider the cost to replace every item. Be sure to include all items of value such as:
Make sure you are thorough in calculating your sums insured, it’s surprising how the little things add up. Take your time and contact us when you’re ready to get a quote.
"Falling trees aren’t covered"
With Towergate, you’ll be covered if a tree or branch causes damage to your static caravan provided it is not due to lack of maintenance from the site owner.
"I need to include all my fixtures and fittings in my 'sums insured'"
Anything permanently fixed in your caravan is covered within the building sums insured. Any household goods or personal property contained in the caravan will need to be covered under your 'contents insurance'. For further information speak to your insurance advisor.
"Acts of God aren’t covered"
An act of God is an event that happens beyond human control. Storms and other extreme weather are very much beyond everyone’s control and are therefore very much covered by our policies, with the exception of frost damage. We’re here to help if disaster strikes: if we didn’t protect against the forces of nature, we wouldn’t be doing a very good job.
Sometimes insurance can be a bit like a foreign language. Here’s our run down of a few words and phrases which may be a little confusing.
Indemnity - Putting you back in the same financial position you were in before the loss.
Public liability for caravans - Your ‘responsibility’ for the well-being of other members of the public and their property. In insurance, this refers to the cover given to compensate legal costs and compensation payments resulting from injuries or property damage to others, if caused by you.
Loss of use cover - Cover for alternative accommodation if something has happened to the caravan that makes it uninhabitable.
Excess - A payment you make towards a claim on your policy.
New for old static caravan insurance - Your caravan and contents will be covered for replacement as new. (If we cannot replace your caravan with the same model we will work with you to find the best equivalent).
Market value - The cost of replacing your caravan at its present value - taking into consideration; year of manufacture, type, wear and tear.
Policy schedule - Your insurance document outlining the cover and period during which your policy is valid.
Statement of fact - Records the information provided to the insurer by the proposer, upon which the quotation, and its price and terms has been based.
As a specialist insurer of caravan insurance for 20 years, we’ve worked with our customers to understand what they want from their insurance. We’ve developed our product to offer a flexible approach to insurance, giving customers the ability to select additional products to meet their needs. We’re proud of our staff and their expertise, with a strong emphasis on training, academies and hands on experience of the caravans and leisure homes we insure. Our aim is to give you peace of mind for your leisure home.
As one of the largest insurance intermediaries in Europe, Towergate offer a huge range of specialist insurance products. In the leisure department alone we offer insurance for; touring caravans, park homes, beach huts, marine and small water craft and our hire car excess brand insurance4carhire.com offers great value hire car excess waiver insurance.
Date: January 20, 2016