Whether you call the team or buy your static caravan insurance online, you'll need to know the values for the following:
Providing an accurate value for each of these will help ensure claims you make cover the true costs of replacement for your caravan.
The first thing you might want to consider is whether to insure your caravan on a new for old, or a market value basis. The value you insure your caravan for will differ depending on which you choose so we've broken this guide down into two sections so as to explain each type of cover and how you'll find the subsequent value.
New for old insurance is designed so if a total loss should occur, you're insurance will cover a brand new equivalent replacement of your caravan.
So if you have a Pemberton Elite manufactured in 2009, it would be replaced with a Pemberton Elite from 2016.
On that basis you’ll need to insure the caravan for the value it would cost to get a new one, not the current value of your caravan, or the price you paid back when yours was new.
It's actually a little easier to find the new for old value of a static caravan and you'll find insurers will usually let you in insure on a new for old basis even if your static is quite old already. For instance Towergate will cover statics up to 30 years old on a new for old basis. But no matter the age, your replacement value will remain the same.
With static caravans it’s often best to ask your site owner. Though you will be able to find the cost of the static caravan itself from the manufacturer, there are usually other costs involved in getting the caravan back up and running as it was previously. Resiting costs vary from site to site and include clearing of debris from the pitch and reattaching the caravan to the mains. There are also costs involved in delivering the new caravan from the manufacturer to the pitch. Experienced park owners or managers will often be able to help you work out the cost of these factors combined.
If the park is unsure what value to give you, try contacting the manufacturer. You should take into consideration that this will be the factory price so do ask them to recommend a value which includes delivery. Don't forget, you must also consider the re-siting costs too so ask the park for this and add it to your total. Remember decking and verandas will need to be included if you'd like those insured too.
To insure for market value is to insure your caravan at its current replacement cost. So how much would it cost to buy an equivalent model of an equivalent year at the time you arrange your insurance?
In a way it’s easier to find the value of a static caravan than a touring caravan. The reason for this is the site owner is likely to have had experience buying and selling static caravans for the park and therefore be aware how much you'd need to pay for a replacement. Again, you must factor in resiting costs if you'd like them covered and remember to factor in any decking of veranda which has been added.
If you bought through a distributor rather than the park then you can get in contact with them again to help you figure out a value. If they aren't sure they should be able to contact the manufacturer on your behalf.
You can get an idea from websites like Preloved where second hand static caravans are sold online. The thing to remember with these prices is they are very often sold on their pitch. That means the price will take into account the location of the pitch too so it may be worth looking in your area to get a better idea.
If you can get your hands on a Glass's Guide for static caravan prices you'll find it easy to pick out your caravan by it's specific model and year. Use the Glass's Retail Value as your guide but do also consider the condition which your caravan is in.
As a specialist insurer of caravan insurance for 20 years, we’ve worked with our customers to understand what they want from their static caravan 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.
Adam Summersby is a respected leader with 11 years’ varied experience in niche personal and commercial lines insurance, including caravan, site operators and excess reimbursement, with proficiency in leadership, sales and account management.
Date: June 27, 2016