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Is caravan insurance a rip off?

otherclive

otherclive

Looking at recent quotes for caravan insurance compared to that of our main tow car, the two clubs are around £150-170 for about £8ks worth of cover. Yet our XC70 worth considerably more than that which does 15k miles per year, is used daily, and has the potential to incurr a very large claim either involving myself and/ or third parties costs £225. The XC70 with with a reputable company too.
Are we being ripped off for pursuing our hobby?
 
The market is very competitive so I doubt the premium is exhorbitant. If any insurer quotes too high they lose the business.
 
Good point but given the sums insured and potential risks are caravanners making more claims proportionately than car drivers? I suspect since caravan insurance is not mandatory and reflects a discretionary expenditure the insurers are doing what my LSE tutor told me ' price your product at the highest price the market will take'
 
otherclive said:
Looking at recent quotes for caravan insurance compared to that of our main tow car, the two clubs are around £150-170 for about £8ks worth of cover. Yet our XC70 worth considerably more than that which does 15k miles per year, is used daily, and has the potential to incurr a very large claim either involving myself and/ or third parties costs £225. The XC70 with with a reputable company too.
Are we being ripped off for pursuing our hobby?
Click to expand...
are we being ripped off probably, it just a matter of the scale, on the face of it the quotes refered to above are quite reasonable to most,
my van insurance was £130 on renweal "in october" despite it being now 8 years old (no new for old) and worth half that of yours.
car insurance (just obtained) lowest quote £261 on a 2004 Meriva and I had to shop around to get it that cheap ,ave milage 8k
but what can you do your dammed if you do, doomed if you don't.
 
The business is too competitive for companies to rip you off. Caravans do have more claims than cars, the theft rate both of the unit and contents as a percentage is quite high compared to cars.
 
I have now gone with the C&CC who when I mentioned that we would not be taking the van to Europe this year reduced the quotation which showed a good flexibilty.
 
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