Caravan insurance what is the average cost in 2021?
How much is caravan insurance roughly ?
The average cost of static caravan insurance in 2021 is roughly £150 for a touring caravan that is worth approximately £9,000 and will have an excess of £162. The average cost of a static caravan insurance in 2021 is at £300 that has a value close to £45,000 with an excess of £167. What should be noted is that the more the caravan is worth, the higher the premiums will be for both touring and static caravans. With COVID-19 we are unlikely to see any increase in costs for caravan insurance in 2020 and possibly cheaper than 2019. The figures for Caravan insurance cost for 2020 are much in line with 2019 given the downturn in mobility.
The cost of caravan insurance will depend on a number of factors. The most important is the cost of your caravan, the more expensive, the higher the premium. Other factors like the agreed excess amount will also impact the cost. Choosing a high excess ( the amount that you are responsible for in any claim ) will help lower your insurance premium. You can also lower the cost by providing additional security features, for example wheel locks and providing secure parking. Discuss these with your broker to make sure any additional security feature is approved by the UK insurance industry. If you include contents, and you have lots of expensive gadgets like state-of-the-art caravan smart TV and sound system, expect to pay a higher premium.
What are the variables in Caravan insurance cost?
The above quotes are for basic coverage and do not include contents in the caravans. Contents will provide cover or all your gadgets, for example a 12v smart caravan TV. The more coverage you desire, the higher the premiums will be. Items that directly affect the cost of covering your caravan will include the following;
Which type of caravan is considered lower in risk?
Due to the static caravan being stationary, they are considered low risk by an insurance company. That is the reason for the average cost of covering a static caravan is only double that of a touring caravan but the value of the static caravan is 5 times higher.
What can caravan insurance cover?
There are basic insurance with numerous add-ons that will provide you with a larger security blanket, but also raise your premiums. What can be added includes is financial protection if your caravan is damaged in an accident. There is also protection that can be added if damage is caused by a fire, storm, flood and vandalism. If you have filled your caravan with the latest gadgets, for example a 12V smart carvan TV then you need to cover these under the content policy.
The most common add-on for touring caravans is motorhome breakdown cover, the cost of towing and storing the caravan if it is broken down or involved in an accident.
What type of caravan insurance is required by UK law?
At this time, touring caravans are not required to have a separate insurance policy since they are generally covered by the tow vehicles insurance. If the touring caravan is motorised, the third party insurance is required by UK law. Be warned the cover under your normal car insurance policy will have limitations and taking out specific should be considered.
Static caravans are not required to have insurance, but most caravan parks do require some type of protection for you to park your caravan on their property.
The reason for taking out caravan insurance is to protect your investment in case of an accident or damage. For most, the purchase of a caravan is a major investment. By having insurance, your investment is protected. With the average cost of caravan insurance in 2021 being reasonable, you will be protected once the policy is issued at a price you can afford. Caravan insurance cost is based on a number of factors like auto insurance, your driving history is a big factor, drive safely and lower your premiums.