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Caravan adventures are all about fun and freedom – but insurance is one of those necessary bits of admin that help make them possible. It doesn’t have to break the bank, though.
Here are six practical ways to reduce your touring caravan insurance premiums, so you can spend more on your next trip and less on paperwork.
What influences the cost of caravan insurance?
Insurers look at a number of things when calculating your premium, including:
- The caravan’s make, model, and age
- Security measures fitted to your caravan
- How and where it’s stored when not in use
- Your claims history
- The type of cover you choose
The level of excess you’re willing to pay
Let’s take a look at how to keep your premium down.
1. Improve your security setup
The better your caravan is protected, the lower the risk for insurers. Devices like wheel clamps, hitchlocks, alarms, and trackers all help reduce the chance of theft – and the cost of cover.
2. Increase your voluntary excess
Willing to take on more of the risk yourself? Opting for a higher voluntary excess can lower your overall premium. Just be sure it’s an amount you could comfortably pay if you needed to claim.
3. Store your caravan securely
Insurers prefer caravans kept in secure compounds, locked garages, or storage facilities. If storing at home, visible security measures such as CCTV or alarmed gates can help lower your risk profile.
4. Provide an accurate value
When selecting your cover, ensure you’re not overestimating the caravan’s value. You’ll only receive the actual market value or agreed replacement value in the event of a claim – anything more will just drive up the cost of your premium.
5. Choose a smaller or lower-value model
Lighter and cheaper caravans are generally more affordable to insure. If you’re considering upgrading or downsizing, this is worth bearing in mind.
6. Keep your no-claims intact
Just like with car insurance, the longer you go without claiming, the better your discount. If the cost of repairing minor damage is lower than your excess, it may be worth handling it yourself to preserve your no-claims record.
Insurance you can rely on from Compass
Insurance is there to support you when you need it most. These tips can help reduce your costs, but they shouldn’t come at the expense of proper cover. Always make sure your policy fits your needs – and your travel plans.
Protect your caravan today – get your quote online now.
Caravan Insurance is provided by Compass Insurance who are a specialist provider of holiday caravan and residential park home insurance, with over 40 year’s experience, so they can help you find the right cover for you.
Compass Insurance is part of the Bspoke Insurance Group Ltd, which also includes Police Mutual, so you know you’re in safe hands.