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Insurance Discussion about all issues related to static caravan insurance, from which insurer to how best to make a claim.

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  #1  
Old 30-07-2018, 13:29
Mdeko1 Mdeko1 is offline
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Default Newbie Insurance Questions

Hi,

I have just purchased a 2004 BK Bluebird on a site in Mid Wales, I am confused as to what I need my insurance to cover.

I have done a couple of online quotes and they seem reasonable (New for old 50k came back around 300 Leisuredays and Market value cover came back around 90 insurance4mycarvan.co.uk)

The van is 14 years old - Can I still get new for old cover? or is it too old?

I assume with the market value cover I only get the book price at the time I claim, so could potentially loose money.

Also which insurance company does everyone recommend?

Thanks
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  #2  
Old 30-07-2018, 15:56
FlixtonFlyer FlixtonFlyer is offline
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If you look in "Owning a caravan" under the sub-heading Insurance you will find lots of info to read..
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  #3  
Old 31-07-2018, 12:52
Mosquito Mosquito is offline
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Join Date: Oct 2015
Location: Fold House Park, Pilling , Lancashire.
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Quote:
Originally Posted by Mdeko1 View Post
Hi,

I have just purchased a 2004 BK Bluebird on a site in Mid Wales, I am confused as to what I need my insurance to cover.

I have done a couple of online quotes and they seem reasonable (New for old 50k came back around 300 Leisuredays and Market value cover came back around 90 insurance4mycarvan.co.uk)

The van is 14 years old - Can I still get new for old cover? or is it too old?

I assume with the market value cover I only get the book price at the time I claim, so could potentially loose money.

Also which insurance company does everyone recommend?

Thanks
to the forum.

The answer to your question is, it depends on the insurance company and if they offer New for old over ten years old. You would need to read the terms and conditions for the company that you are thinking is going with.

Regarding market value cover, it's almost certain that you would lose money if your van was written off but again, it's always prudent to check with the insurance company.

I insure with CBI insurance Consultants

Here are their contact details:

marie@cbi-insurance.com

Main Office Number: 01492 534524

There are many other members who insure with other companies but I find CBI is right for me.
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  #4  
Old 31-07-2018, 19:57
Peter.R Peter.R is offline
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Join Date: Nov 2016
Location: Northumberland
Posts: 114
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Quote:
Originally Posted by Mdeko1 View Post
Hi,

I have just purchased a 2004 BK Bluebird on a site in Mid Wales, I am confused as to what I need my insurance to cover.

I have done a couple of online quotes and they seem reasonable (New for old 50k came back around 300 Leisuredays and Market value cover came back around 90 insurance4mycarvan.co.uk)

The van is 14 years old - Can I still get new for old cover? or is it too old?

I assume with the market value cover I only get the book price at the time I claim, so could potentially loose money.

Also which insurance company does everyone recommend?

Thanks
Do not be decieved by new for old the only way to test insurance companies is to make a claim then see if they are as good as their word ?..
They always find a way to quote small print !!!! So check that "new for old " relates to the caravan and not just the contents !.

I personally can't see any insurance company paying out anything other than market value for a caravan regardless of age........ Unless anyone can tell me different ?????
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  #5  
Old 01-08-2018, 16:00
Paul BK Paul BK is offline
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Join Date: Apr 2017
Location: Hillcroft Park
Posts: 79
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Quote:
Originally Posted by Peter.R View Post
Do not be decieved by new for old the only way to test insurance companies is to make a claim then see if they are as good as their word ?..
They always find a way to quote small print !!!! So check that "new for old " relates to the caravan and not just the contents !.

I personally can't see any insurance company paying out anything other than market value for a caravan regardless of age........ Unless anyone can tell me different ?????
If you pay the new for old premium you do, otherwise it's market value.
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  #6  
Old 01-08-2018, 21:34
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Cylon Cylon is offline
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Quote:
Originally Posted by Peter.R View Post
Do not be decieved by new for old the only way to test insurance companies is to make a claim then see if they are as good as their word ?..
They always find a way to quote small print !!!! So check that "new for old " relates to the caravan and not just the contents !.

I personally can't see any insurance company paying out anything other than market value for a caravan regardless of age........ Unless anyone can tell me different ?????
Yes, as with any insurance you do need to read everything thoroughly including the small print, but I personally would find it very difficult to believe that an insurance company would get away with quoting new for old if that was not what the policy meant?

I have new for old cover as I did with my previous insurer and had very carefully read all the small print on both policies and felt comfortable with my decision, right or wrong . If you are prepared to pay the extra premium for new for old compared to market value why should you not be covered, on the assumption that you are abiding to all Terms & Conditions of the policy?

Last edited by Cylon; 01-08-2018 at 21:38.
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  #7  
Old 02-08-2018, 08:07
Paul BK Paul BK is offline
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Join Date: Apr 2017
Location: Hillcroft Park
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Quote:
Originally Posted by Cylon View Post
Yes, as with any insurance you do need to read everything thoroughly including the small print, but I personally would find it very difficult to believe that an insurance company would get away with quoting new for old if that was not what the policy meant?

I have new for old cover as I did with my previous insurer and had very carefully read all the small print on both policies and felt comfortable with my decision, right or wrong . If you are prepared to pay the extra premium for new for old compared to market value why should you not be covered, on the assumption that you are abiding to all Terms & Conditions of the policy?
Exactly. The only thing I don't like about these policies, is that the companies don't find out the replacement value and raise your premiums accordingly. They leave it to you and if you under insured it, they don't pay you the amount you insured it for, they only pay market value.
So you have then paid the higher premiums for nothing.
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  #8  
Old 02-08-2018, 22:27
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Cylon Cylon is offline
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Quote:
Originally Posted by Paul BK View Post
Exactly. The only thing I don't like about these policies, is that the companies don't find out the replacement value and raise your premiums accordingly. They leave it to you and if you under insured it, they don't pay you the amount you insured it for, they only pay market value.

I know what you are saying, had the same problem valuing ours first off. Saying that though our insurance company did slighty increase the value of cover for our van on its first renewal, something I was not expecting them to do. Link below on what I posted regarding this, earlier this year:

http://www.gostatic.co.uk/showpost.p...7&postcount=14
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  #9  
Old 02-08-2018, 23:53
Bluebells Bluebells is offline
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Location: Lake District
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Our van is insured new for old via our site's insurance broker. The value is increased each year automatically at renewal but there is still the advice to check that the figure is adequate for our current needs.
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  #10  
Old 01-08-2018, 09:32
fhb fhb is offline
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I believe that new-for-old means that static insurers, like residential park home insurers, will supply and site a new home to the nearest specification of the destroyed model.
This would have to have the approval of the Park, and would involve siting the home - not handing over the cash. It also means that the cover value very much depends on whether the Park value it as a replacement or as a new sale - which would be a considerable difference in price.
Whether any Park would actually demand a new sale price, and whether it would be legal to do so, is debatable, but certainly any insurance for a static or residential should include the cost of clearing the pitch and - if new for old - resiting the replacement.
Lifesure are a frequently recommended broker for both residential and holiday caravans.
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