Market Value

[sarah647]

We have just received our renewal paperwork and I was wondering how you work out the market value of your caravan. Its a good few years old and second hand so its not a recently available model.

Last year we used the price we paid for it and the contents/accessories we had at the time. However, a year on we have upgraded a lot of the kit and received several offers from dealers for more than double what we paid for the caravan.

Don't want to insure any of it for less than what its worth.

thanks

Sarah647

 

[jacky3]

hi,you will find that the more notable caravan insurers know what the van is worth.if you try and insure it for more than its worth,the reputable ones will advise you of their valuation.therefor insure for the market value of the van.

 

[sarah647]

Thats the bit I don't understand, if they know what the market value is why on earth do they ask me? Just seems a bit of a pointless question really.

Sarah647

 

[jacky3]

Thats the bit I don't understand, if they know what the market value is why on earth do they ask me? Just seems a bit of a pointless question really.

Sarah647

hi sarah,

they ask,because they know that most people tend to overvalue their property.......hence bigger insurance payment,but when it comes to paying out....'market value'.the moral is dont overvalue.trawl the net for similar caravans to see their value,then decide.

 

[xtrailman]

Sarah647

Two options, phone a dealer that sold or sells your make of caravan, they will tell you the level of cover you require, or when you phone for insurance cover, ask them what the market value is, i think saga do this, but anyway thats what i did last month.

Once you know the market value, then all you really have to guess is the second hand value of your motor mover, battery, water carriers ect.

I have just taken out cover with the CC club for the first time, for a change there rates were competitive.

 

[sarah647]

My issue is that a lot of the kit has been replaced in the past few months so to offer me

 

[Zafiral]

Sarah, equipment such as the awning is covered under a separate allowance to the caravan with my insurance company (caravanguard) for example may caravan could be insured for

 

[RayS]

Another idea is to use the Caravans for sale section of this and other website. they usually have a 'wanted' section, so just stick in the details of your existing van and have a look at similar ones for sale. Dealer prices will be higher than private, but it will give you some idea.

There is a particular problem with some continental 'vans e.g. Burstner which have dropped out of the pages of the trade guides, so checking similar 'vans advertised is really the only way to keep track of things.

 

[DeliDave_]

Value of van and contents are two different items iirc,you will need to total up items and ensure you have receipts.Our van is insured for 15k new for old but