Insurance

[LisMar3]

Hi everyone, I am about to purchase my first caravan insurance, the one thing I don't understand is the difference between 'new for old' and 'market value'. Which one do people recommend? My caravan is quite old; 2007.

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[Slattster]

New for old , is for new / new ish vans , where the insurance covers the cost of a new van if a catastrophe happens , there is usually an age limit on the van , I think either 7 or 10 years , so no good for your van. Market value isn’t the price you paid for it, it’ll probably be the price a dealer would give you for it. So go with market value .

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[LisMar3]

Thank-you, that is very helpful.

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[Scorpio]

Remember to check with the Site - ours insist on New for Old cover for all caravans on the Site.  It is stipulated in the contracts.

Linkback: https://staticforum.co.uk/index.php/topic,717.msg1905.html#msg1905

[fhb2]

Insurers vary, some cover holiday statics up to 20 years in new-for-old - it is worth while comparing the cost of the premium between new for old and market value, as it may not be much - I have a feeling that the cost of the van itself makes only a small park of the premium, it is all the other bits (public liability, contents, site clearance cover, etc) that build up the cost.
The most important thing is to make sure that (especially if you are on a park) you are covered for site clearance in the event of a disaster.
If you are planning to rent out your van, then make sure this is included.

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