The Important Elements of a Touring Caravan Insurance Policy
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Touring caravan owners should know what the elements are that make up any insurance policy they take out. The elements of a policy are Contents, Continental use, Damage and Loss, general exclusions, Excess, and Liability to the public. It is my intention to offer an insight into the policies different parts in this article.
Damage and Loss of a caravan are covered, normally up to the value of the caravan itself. New For Old cover means that you will get a new caravan replacement caravan, but this is normally only for caravans up to 5 years old. Market Value cover means that if your caravan needs replacing, you can claim the prevailing market value for your old caravan.
Contents and personal effects are not always standard in a policy, and are often quite limited in the coverage provided. Things like computers, documents, phones, bikes, money, credit cards, valuables, and audio/video devices are often excluded. To claim, entry must have forcible, and policies offer different coverage for awnings, toilet and trailer tents.
In the case of loss or injury to the public from your use of the caravan, liability to the public is a feature of caravan policies. As long as the caravan is not hired or used for business purposes, this will normally extend to people the caravan has been leant to. Coverage is generally between 1 million and 2 million, and sometimes it won't include costs, but sometimes will.
You must make sure you have continental use coverage if you are going to mainland Europe, as this doesn't always come as a standard. Some policies will also offer repatriation of the caravan (up to its insured value) and roadside assistance (up to a maximum amount). A number of the former Soviet block states are not covered, among them Bulgaria, Albania, Hungary, and the Czech Republic.
Excess is the amount of a claim that you must pay yourself, before the insurance company will stump up any cash. For instance, if you had an excess of 100 and made a 300 claim, you would get 200 from the insurance company. Increasing the amount of excess on your policy is one way you can save money on premiums.
You should be aware of the general exclusions of a policy, despite the fact that many of them are exceptional events. Pressure waves from supersonic aeroplanes, terrorism and hostilities are several of these, but importantly so is use other than social, domestic or pleasure. The many different caravan insurance policies generally offer the same general exclusions as each other.
Article Source: Articlelogy.com
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