new van insurance

[Beachball]

With our caravan been 14 years old we have gone for market value on our caravan insurance we brought it in a private sale

 

[Dustydog]

The problem is that from an insurers point of view a caravan is economically repairable if the cost of the repair will be cheaper than the replacement cost in these cases. Possibly the underwrites would take a generous view and replace but I have no experience of any claim at this level with the CAMH so cannot be sure how they would act, but it is a possibility particularly with the cheaper policies where cost are shaved to the bone. I think this is mainly theoretical, as getting damage that costs between the current value of the caravan and its replacement price is very unusual.
As I understand it they will leave you to negotiate for the new caravan provided you get a decent deal and will allow you to buy something different if need be if you decide to upgrade if you pay the difference in cost.

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👍

 

[ProfJohnL]

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.

 

[Raywood]

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.

 

[Dustydog]

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.

Ray, Are we on the same sheet?

 

[otherclive]

Ray, Are we on the same sheet?

Think your post #10 set this hare running 😂

 

[Dustydog]

Ray, Are we on the same sheet?

👍👍👍Thank you it is Sunday lunch 🍺🍺

 

[Raywood]

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.

 

[Raywood]

That was meant to be a reply to the comment by Beachball on the costs if his pet insurance.