Insuring Your Caravan
When you decide to buy a caravan, you have decided to spend thousands of dollars to make your dream a reality. Whether you like it or not, the reality is that you have made a significant investment. As with every investment, you want to keep your investment safe and avoid unwanted damage to it.
However, the reality is that accidents and damage are sometimes unavoidable. While they might occur due to our negligence in some cases, in other cases, they occur due to reasons beyond our control. This is why it is important to take extra measures to protect yourself from the impact of such damage.
One sure way to achieve this is through insurance cover. It covers you from a wide range of damage such that in the event of such damage, you receive compensation. The idea of an insurance cover is that you do not have to worry about bearing the financial responsibility for such damage. Thanks to the insurance package, your insurance bears the cost of the damage and indemnifies you.
At Tasmania United, we are caravan dealers that recognise the importance of insurance. After all, we know very well how much of an investment owning a caravan is. So, we encourage our clients to get themselves insurance cover. We do not offer insurance services ourselves as we are not an insurance company. However, we have third-party partners who are willing and available to help with your insurance needs. All you need to do is get across to them and be sure to get all the help you need.
Types of Insurance Cover
There are two types of insurance covers that you can opt for. Usually, these insurance covers are characterised by the extent of indemnity you get to receive if the damage you are insured occurs. The types of insurance are as follows:
Agreed Value Insurance
This is an insurance package where the compensation you receive is determined when entering into the insurance. Under this insurance package, the insurer agrees to indemnify you up to a certain amount if particular damage occurs. Under this arrangement, depending on the prevailing cost at the time of the accident, the amount might be inadequate to complete the repair or exceed the amount needed.
Market Value Insurance
This is an insurance package where the compensation you receive is determined based on the market value of your caravan at the time of the damage rather than at the time of entering into the insurance. Under this insurance package, the insurer agrees to indemnify you up based on the market value of your caravan if particular damage occurs.
What Can You Get Cover For?
There is a wide range of things that you can get insurance cover for. They include:
- Storm, Flood, and Hail
- Explosion and Fire
- Attempted theft and theft
- Malicious Damage
- Accidental Damage
- Electrical motor burnout