5 CARAVAN INSURANCE TIPS
April 22 2015 | Matt
Make sure you’ve got the best cover on your caravan
While insurance is hardly the most exciting part of owning a caravan, it’s an important and unavoidable factor. If your renewal letter might soon be in the mail then check out our 5 tips to make sure you’ve got the best cover possible.
1. Checking your yearly premium
It’s far too easy to fall into the trap of not checking your premium each year. The letter comes, you think I really need to get that checked, then before you know it you forget for another year. When you first sign up to an insurance company they can often give you a ‘heavily discounted’ rate to get you on their books, then proceed to send out a substantially higher premium the following year. If you are on direct debits, no action is needed for your policy to continue, and you might be hit again and again with slight increases unless you take notice. We recommend checking out the competition each year to ensure your price and product is competitive.
2. Does the policy cover personal contents?
When you go to insure your caravan, it’s important to find out whether the policy covers contents in your caravan, and if so to what value. Generally, your standard home contents policy won’t cover items outside of the home without a specified extra. Because of this you need to know to what value the items you have within your caravan are covered, and whether you’ll need to invest in additional cover. While it might seem an unlikely event, there’s always the chance of the contents in your caravan being damaged or stolen, so make sure you’re covered.
3. Can you receive a discount for multiple policies with a single provider?
If you currently have home, contents, or other vehicles insured with a single insurance provider, make sure to see whether you are entitled to a multiple product discount when getting a quote on your caravan. If you’re an existing customer it doesn’t hurt to make a call and check whether this type of discount is being applied. It could end up saving you on more than just the caravan premium, with your house and car potentially receiving an added discount at renewal.
4. Are the call centres and claims departments based in Australia?
One major way companies cut costs and offer cheaper insurance products is by outsourcing their customer service departments to developing countries. While you might appreciate the lower prices at renewal, there’s every chance you’ll have to go through a frustrating and lengthy process to make a claim, change items on your policy, or speak to a customer service representative. Some insurance companies base all their operations in Australia, have physical stores you can walk into to make a claim, and speak to staff member in person. These companies are not only providing a high quality product via customer service, but are supporting Australian jobs. Certainly one issue to be mindful of when making your insurance decisions.
5. Freedom of Choice of Repairer
Some insurance companies will only have a sample of businesses of whom they will allow to repair your caravan. Generally they will have some kind of arrangement that makes it advantageous for them to limit your choices to a small number of businesses. This might not sound like a problem, but if none of the repairer’s are remotely near you, or you have a crash repairer you trust, getting your caravan fixed might turn into a frustrating hassle. Make sure to consider whether this would be an important factor to you in the event your caravan was damaged.
We hope these 5 tips have helped get you thinking about your policy! There are a lot of other elements of a policy to keep in mind when setting up or renewing insurance. The best thing anyone can do is have a flick through the product disclosure statement, and take a close look at their renewal notice to ensure nothing is amiss. Don’t leave it until something goes wrong to check you’re properly covered with a reputable company!