Caravan insurance is like most insurance and you will pay highly for anything out of the ordinary.
I doubt if your insurance company will do 'new for old' anyhow on a seven year caravan as most is for five years max, even if they do you will pay dearly for it!!
I would save yourself some money and insure it for its 'true' market value and not what you think it is.
Our van is 5 years old and we insure ours on a new for old basis. As ever its down to personal choice- We are with Caravanguard who insure vans on a new for old basis up to 10 years old. I have a feeling that they now do 'new for old' on older vans now but dont quote me on this. (This kind of information doesnt apply to me at the moment so my brain doesnt retain what it doesnt need!)
Can I recommend Caravanguard? So far I guess- yes- BUT.....we have to bear in mind we havent had to make a claim and that is always the true test.
I did once find a firm that insured new for old on any age of caravan, I can't remember who it was now,but be aware you will be paying the price of a policy to replace your caravan with a new one. Ours was worth about £5k but a new model replacement was £18k so the policy was very expensive.
As always check what you are getting covered, market value and the cost of actually buying a replacement can be very different.Insurers will gladly take your valuation of £10k and base their premium on it but try to claim for that amount and you could get a nasty shock!
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The CC do new for old up to 10 years old but bear in mind that you will be paying a premium to insure your van that will assume that its value is that of a new van.
I used to insure mine new for old but found a dramatic drop in premium when I insured at market value.
When the van was three or four years old, I wanted it replaced with a new one if it was written off. Now it has a few years on it, I will be happy to accept market value as the cost of insurance in relation to the actual value of the van becomes unrealistic.
My caravan has just come up to 3 year old and i have just renewed it this time at market value.I have had caravans for 40 years now, all bought new and i do them new for old only for first 2 years.
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Topic: Caravan insurance new for old?
