Sometimes a proposition is put forward to the effect that “all insurance policies are more or less the same”.
This isn’t restricted to caravan insurance but it’s certainly heard in that context too.
Let’s examine this and see whether or not the assertion has any basis in fact.
At the highest level, all caravan insurance policies have the same characteristics.
In summary, they are there to:
- define, clearly and specifically, certain risks faced by the policyholder;
- offer financial assistance should any of those risks materialise;
- state any conditions that must be met by the policyholder for the caravan insurance policy’s provisions to remain in force;
- clarify that if a risk isn’t explicitly stated as being covered by the policy, then it typically won’t be. So, don’t assume something is covered unless the policy states that it is.
If you compare caravan insurance, all policies will be the same or very similar in these core respects.
Where things differ
Once you pass those generalities though, as you compare caravan insurance you start to see some very substantial differences appearing.
This shouldn’t be surprising. Caravan insurance providers are looking to tailor products to appeal to caravan owners. As the situations of those owners will differ very significantly, the product offered by caravan insurance providers must do likewise.
Consider for a moment the insurance requirements of someone with a modestly sized and older campervan versus those of an owner of a very large, brand new and top-of-the-range towed touring caravan. Their cover requirements are, by definition, likely to be very different.
That should, in itself, demolish any idea that their caravan policies will be “the same”.
To take just a few random examples of where one policy might differ from another, even within the class of touring caravans:
- some may offer cover for awnings (with conditions), others may not and some may do so but only for an additional premium;
- you may find that there are strict annual mileage conditions with certain policies but not others;
- if you like the idea of going abroad, some providers might include EU cover as standard but others won’t;
- it is possible to see some very significant differences between the conditions applicable to parking when not in use and out-of-season. Some providers might ban on-street parking, while in other cases that might be extended to on-driveway too. So, you’ll either need a garage or to put your caravan into approved secure storage over winter;
- cover on your contents might also vary hugely, based upon maximum values insured, maximum values per item and so on.
Why this matters
The problem with a perception that all insurance is the same is that it encourages a dangerously relaxed attitude when trying to compare caravan insurance. It leads to the idea that the only variable is price and selecting your policy based on price alone might prove to be a major mistake.
It’s always a sound idea to think more broadly and to ensure that you’re fully familiar with the cover on offer and importantly, the associated conditions.
If you’re unsure as to how to read a policy, an experienced provider of touring caravan insurance should be able to assist with appropriate clarification.