Some of you have Caravan Cover and I am very wary of it however decided to get a quote anyway. I am only looking for clarification in case I have it all wrong regarding the CMC Caravan Cover.
At the top of the quote it distinctly states Caravan Cover however at the end of the quote it refers to the obligations of the CMC and uses the word "insurance" numerous times and not Caravan Cover? There is also reference to the FSCS and claiming compensation however this only applies to insurance? Wording is as follows;
What Do I Do If I Have a Complaint about the Club’s Insurance Services?
Please contact us using the contact details above and if we cannot settle your complaint with us, you may be
entitled to refer it to the Financial Ombudsman Service (FOS). Further details may be obtained by contacting
the FOS on 0800 023 4567 or by visiting their website: http://www.financial-ombudsman.org.uk/
Who Regulates the Caravan and Motorhome Club?
Caravan and Motorhome Club is a trading name of The Caravan Club Ltd. which is authorised and regulated by
the Financial Conduct Authority (FCA) for general insurance mediation and credit activities. Our Financial
Services Register number is 311890 and you can check this on the Financial Services Register by visiting
https://register.fca.org.uk/ or by telephoning the FCA on 0800 111 6768 or 0300 500 8082.
Is the Caravan and Motorhome Club Covered by the Financial Services Compensation Scheme?
Yes we are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our
obligations relating to our insurance and credit activities.
Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk
At the top of the quote it distinctly states Caravan Cover however at the end of the quote it refers to the obligations of the CMC and uses the word "insurance" numerous times and not Caravan Cover? There is also reference to the FSCS and claiming compensation however this only applies to insurance? Wording is as follows;
What Do I Do If I Have a Complaint about the Club’s Insurance Services?
Please contact us using the contact details above and if we cannot settle your complaint with us, you may be
entitled to refer it to the Financial Ombudsman Service (FOS). Further details may be obtained by contacting
the FOS on 0800 023 4567 or by visiting their website: http://www.financial-ombudsman.org.uk/
Who Regulates the Caravan and Motorhome Club?
Caravan and Motorhome Club is a trading name of The Caravan Club Ltd. which is authorised and regulated by
the Financial Conduct Authority (FCA) for general insurance mediation and credit activities. Our Financial
Services Register number is 311890 and you can check this on the Financial Services Register by visiting
https://register.fca.org.uk/ or by telephoning the FCA on 0800 111 6768 or 0300 500 8082.
Is the Caravan and Motorhome Club Covered by the Financial Services Compensation Scheme?
Yes we are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our
obligations relating to our insurance and credit activities.
Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk
Think you may be looking at the insurance section of the website rather than the Caravan Cover specific details.
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You may be right. The two clubs will have a far larger portfolio and can get a better spread. With smaller accountsa few caravans in the wrong place can skew the figures.
If you read the online documents The CMHC are regulated by the FCA. The Caravan Cover has Builders Direct SA as the Group insurers so they have to be covered by the FSCS. The associated (optional) Legal Protection Policy is with DAS so the come under the FSCS. Page 24 of the online document deals with the Caravan Club Group Plocy. And Pages 26 onwards deal with the Caravaners Legal Protection Policy with DAS. So it is not surprising that the CMHC who are offering members services have chosen to come under FCA regulation, and their associated insurance policies with Builders Direct SA and DAS (optional)which are being offered as part of the Caravan Cover are also included.
A member who has spent his professional career in insurance has no qualms about Caravan Cover and I find it hard to imagine that a responsible club with good governance procedures would seek to ensure that their members are not disadvantaged by the Caravan Cover offering. But anyone with concerns really should go to a conventional insurance policy as its unlikely that those concerns can be addressed within a Forum.
A member who has spent his professional career in insurance has no qualms about Caravan Cover and I find it hard to imagine that a responsible club with good governance procedures would seek to ensure that their members are not disadvantaged by the Caravan Cover offering. But anyone with concerns really should go to a conventional insurance policy as its unlikely that those concerns can be addressed within a Forum.
Still undecided on which insurance to use. Unfortunately due to high value with accessories many have an upper limit of £40k on new for old. New Buccaneer is now nearly £36k before any accessories. Got until end of month to decide.
I have had the CAMC super cover for years. The Club’s Insurance Broker is still Devitt, London. At one time there was a panel of Insurers including Aviva and Axa. Since last year the Insurer is Builders Direct SA based in Luxembourg but with a legally set up business in London to trade here. Their registered address is Fenchurch Street London, the same , I think as Devitt’s registered address?
I suspect, no evidence, just my opinion, CAMC and Devitt have set up a Captive Insurance agreement with Builders. In theory it gives all the FCA and FSCS guarantees to the policyholder. I have no worries at all about this arrangement. In theory it should save us money. TheClub and Devitt will still handle all the claims as before. They say this In the blurb.
However I do not remember seeing anything in my last renewal about this major change?
I suspect, no evidence, just my opinion, CAMC and Devitt have set up a Captive Insurance agreement with Builders. In theory it gives all the FCA and FSCS guarantees to the policyholder. I have no worries at all about this arrangement. In theory it should save us money. TheClub and Devitt will still handle all the claims as before. They say this In the blurb.
However I do not remember seeing anything in my last renewal about this major change?
As it is not insurance, if you change to an Insurance company at some point in the future, will your No Claism be recognised?
BTW CMC are not any cheaper than many other insurance policies however it appears that they are as there is no premium tax.
You could ask CMHC about the arrangement for providing proof of no claims. I’m sure they will have something in place. Also their renewal advise I would expect to see something about no claims accrued.
Last year when I thought I was taking out insurance I cancelled as they did not reply to my email regarding No Claims plus the fact that I then found out that we were not actually insured. At no time during the conversation was I told it was Caravan Cover and not insurance despite me using the term probably frequently during the conversation.
I thought that this year I would try them again and went through everything and also phoned and spoke with a rep. I eventually agreed to the Caravan Cover and asked for the documents to be posted out to us. This was all done last Monday and no sign of the documents.
I did ask about the reference to insurance at the end of the quote, but did not get a satisfactory answer. Sometimes it is difficult to put yourself across correctly on the phone and even more difficult to understand them as they blabber on and on and if you try and stop them to claify a point, they simply talk over you.
I must admit I am still very unsure about this Caravan Cover and whether we have done the right thing by accepting Caravan Cover rather than insurance especially at this time when the club has probably lost a lot of revenue.
If you read the Treasurer's Report issued not long ago it should put your mind at rest. It is ring fenced to put it simply, and they also provide the group insurance via Builders Direct SA, as has been mentioned on several previous occasions.
I understand about the group insurance but that does not apply to individuals such as you and I. We cannot use FOS in the event of a dispute and the CMC has to do it on our behalf as the contract is between the CMC and Builders Direct SA.
If you read some earlier posts you will see in quotation marks what David Smith Senior Product Manager has said on the CMHC Members Forum about your concern. Also the policy document emphasises the word "You" in relation to the rightsthat you have to process a complaint. I cannot see that it could be any clearer. But hopefully like all of us you may not have to test it in any way over the next 12 months.
From policy document
"The Policy has been arranged with Builders Direct S.A. so that you can be sure that a valid claim will be paid if we do not pay. The Policy also means that "you" may be able to take a complaint to the Financial Ombudsman Service, and enjoy the protection of the Financial Services Compensation Scheme if Builders Direct cannot meet their obligations to you" T
These are not my bold font. The word "may" in line two is in recognition that not all complaints will be investigated by the Financial Ombudsman as there will undoubtedly be those who try and pursue blatantly unreasonable complaints, which will not be investigated. this can be found within the FOS blurbs too.
Your input is really appreciated. As per an earlier post the wording on the quote did not reflect this and not having the documents I am unable to check the wording.
Seems there may be a big difference between the wording on the quote and actual policy? Hopefully we will not have to wait much longer for the documents to arrive?
No problem. The Caravan Cover Policy and Legal Protection Policy can be viewed on line either via your account on the CMHC website or as a visitor who does not have to log in. But hopefully the hard copies will be with you soon.
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