With our caravan been 14 years old we have gone for market value on our caravan insurance we brought it in a private sale
Isn’t this why we pay a hefty extra premium for New for Old? Surely the your principle doesn‘t arise in motor insurance? I can envisage hundreds of smashed up cars being repaired , as such repairs will highly unlikely reach the new purchase price🤔
I concede a lot of motor policies give you an extra where by if the car is less than one year old a brand new replacement is given.
The Caravan policy I have isn’t underwritten that way. In the immortal words of the Prof I shall have to ask the Insurer. Thanks for your input Ray , stimulates the old grey cells👍
Yes Dusty.
I certain that if a policy states "New for old" there will be qualifying statements in the T&C's, and as caravan insurance does not have a set of statutory minimum legal requirements (like car insurance) the insurer will apply their own unique T&C's. For that reason you cannot assume two independent insurers will have exactly equivalent policies.
I certain that if a policy states "New for old" there will be qualifying statements in the T&C's, and as caravan insurance does not have a set of statutory minimum legal requirements (like car insurance) the insurer will apply their own unique T&C's. For that reason you cannot assume two independent insurers will have exactly equivalent policies.
One of our neighbours ended up with a bill of over £5,000 when their dog was ill and a friend f my daughters had to have hers put down as she could not afford the vets bills so I do understand.
Not sure how that happened, but that was meant to be a reply on the thread about insurance and the cost of pet insurance. Old age and senility is my excuse.
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