C.C. New for Old Insurance Policy

[Alexander_374295091]

Hello Folks

I just called the CC to renew my caravan insurance, based on my renewal quotation that came through in the post. I bought my van new last year for 12k and have approx £2k of equipment and have had the van and equipment covered for £14000, on their new for old cover, 5C's policy that replaces new for old until the van is 3 years old.

However as Coachman have replaced my 500/5 with a new 550/5, they told me I was under-insured, I have had to up my cover to £15500 so they could continue to be able to offer me a new for old in case of any total loss claim. The only thing is it has cost me an additional £40 to do it.

Is this right or should I have stuck to my guns and insured for what it cost me.

What do you all do when you renew your policies, do you all have to insure for the current new price of your van.

The example I gave them was, so if I bought a two year old caravan for £8000 and insured with the C.C. on your new for old policy (Up to 3 years old), I would have to insure for the full replacement value of say £15000, they said yes.

Any advice would be great.

 

[Cockovan]

You are paying for insurance such that if you van is a total loss you would get one to the value of ..., so you pay a premium to that value. If you choose a policy that give you market value then you pay a premium that reflects the current value of your van, much like you do with your car.

You take your choice and pay accordingly! If you don't like an insurer look at others, I have been with about 12 over the past 23 years but keep coming back to the Caravan Club for what I believe is currently good value for money.