The pros and cons of caravan insurance

Posted 8 November by Steve Dart

Should you take out insurance on your static caravan? Before you do, read this essential guide to the pros and cons to make a more informed decision on caravan insurance.

The benefits of insurance for caravans

Insurance for static homes, holiday lodges or mobile homes is not currently a legal requirement in the UK, unlike car or buildings insurance. It is however highly advised and is also a requirement of most park owners and contracts. This makes it all but essential for any caravan owner. The benefits are many and include being covered for weather damage whether it's storm, snow, freezing pipes, frozen locks or flooding. Provided you take out caravan insurance with an established insurer, you should also be covered for public liability, vital in the current no-win no-fee legal climate.

Another major benefit of caravan insurance is that it can offer peace of mind to those who are not living full time in their caravan. When the caravan is unoccupied, certain measures need to be taken to ensure that the cover is met, but knowing that should something happen in your absence you are covered, is really vital for may owners. Those who plan on renting their caravan out to holidaymakers can also find that additional cover can help protect against loss or damage by hirers.

The disadvantage of caravan insurance

As you can see, the advantages to taking out caravan insurance are certainly many, but are there any disadvantages? For some caravan owners the cost of caravan insurance is questioned, as in most instances it's slightly above that of your home insurance. This may seem unusual, or possibly unfair, as your main home is clearly more valuable. However, the chances of damage to your caravan are much higher, due to the nature of the building materials and the nature of occupancy. This means the likelihood of a claim is higher and thus the premiums too. Unlike a house, a caravan may need to be moved off-site should it need significant repairs, and this is also costly for those who don't have adequate insurance. Any owner who has had to make a claim learns fast how essential the cover is. The upshot is that the only real disadvantage of caravan insurance is not having any!

As you can see the pros to purchasing caravan insurance hugely outweigh the only disadvantage, being the higher cost in comparison to buildings insurance. The wealth of benefits can help you in a number of ways, whether it's for peace of mind when you're away or knowing that you can get a new for old price should the worst happen. The best of this is the peace of mind of knowing one of your prized assets is fully covered!