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Post Info TOPIC: Caravan Insurance


Newbie

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Caravan Insurance


 Good morning Grey Nomads,

                                          I am a new member, so hello, I am seeking  advice on which company is the best value to insure my caravan, any advice would be appreciated.

                                                           Thankyou,

                                                                         soda0418



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Senior Member

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Hello Soda0418. I don't know where you are, but I am in Queensland and insure with RACQ. I had a mishap and could not complain about my insurance cover nor how the insurer handled it. Thumbs up to them from me. Always best to search around and make your own decision.

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Senior Member

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We are insured with CIL Insurance and have just had to claim. I highly recommend them our claim was handled quickly and there recommend repairer were top notch.



-- Edited by Pondy on Monday 11th of April 2016 12:57:35 PM

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Suzanne, Ronnie and Chester the cocker spaniel 



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Gday...

Welcome to the forum, Barry.

Welcome 02.jpg

Rather than simply put forward the name/s of insurance company/s that may be suitable for your needs, I suggest you clearly determine just what you NEED/WANT from insurance.

  • how will the van be used - 6-months a year, 3-months a year, occasionally;
  • where will the van be stored/garaged;
  • how will the van be stored/garaged;
  • what are the circumstances when the van is used that SHOULD/MUST be covered by the policy;
  • in some way, where will the van travel;
  • what if the van is to be used for extended travel - eg a year, two years, full-time;
  • what are the inclusions, and more importantly the EXCLUSIONS, in the policy;
  • will any of these exclusions impact on how you know, or think, you will use the van;
  • what items are covered, or not covered, in the contents aspect of the policy;
  • approach as many companies as you can for a quote (price) and MORE IMPORTANTLY a copy of their Product Disclosure Document/policy;
  • FIRSTLY, compare their Product Disclosure Document/policy BEFORE comparing price/premium;
  • purchase the policy that CLOSEST/BEST meets the requirements that meet how YOU will USE your van; and
  • if their van policy is close to what meets your requirements - do they have a 'multi-policy' arrangement that you may be able to adopt.

Despite there being scores of insurance companies to approach, be aware that there are less than a dozen underwriters who provide the actual coverage to the various 'companies'. 

Use what ever means you can to research how the claims procedure/performance of the insurer has been experienced and if possible, how satisfactorily any repairs etc they have authorised have been carried out. Obviously, be aware that ALL insurers will often try to get out of paying against claims as a default position.

They are not likely to be a friend and are in business to make a profit and to provide returns to their shareholders ... not their policyholders.

Sorry for the long-winded "telling you how to suck eggs" response, but unfortunately, not all insurers are not necessarily as they seem at the time they are enticing you to take up their product. Only homework will hopefully minimise trauma and angst should you ever need to claim. Ultimately, remember caveat emptor.

PS - I travel full-time and have insured through CIL ... that is because I live and travel full-time in my van. CIL covers that usage of my van. Price is perhaps not the cheapest available, but their coverage meets 99% of what I need for the way I use the van. I have had two claims in the past seven years. Each claim was handled courteously and promptly and the repairs were approved quickly and completed to a high standard.

Cheers - best of luck and happy, carefree travels -John



-- Edited by rockylizard on Monday 11th of April 2016 01:30:00 PM

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2006 Discovery 3 TDV6 SE Auto - 2008 23ft Golden Eagle Hunter
Some people feel the rain - the others just get wet - Bob Dylan



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Hi John,

You were successful in your Job application. Can you start Monday.biggrinbiggrinbiggrin 

Nice reply John. Did you work in the insurance game before retirement. If we need some help down the line can we PM you for advice.

Jim & Lambie



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Guru

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Gday...

Jim, JIM !  no don't mention that four-letter word cry Work is not a good thing to think of

Thanks for the comment. Yeah, did dabble in 'financial management' (including insurances) for some of those bad ole days.

Outta touch these days, but I am always bothered that, even back in my 'ole days', too many people buy/bought insurance on price NOT on policy.

Insurance is DEFINITELY a product that ya get what ya pay for ... and like any 'contract' once it is all signed, paid for and delivered, those short and curlies can, and often do, get twisted. cry cry

Anyway, I am full of it ...OOPS, hmm advice that is .... PM if ya wish, but I only remember how to advise against pitfalls - not up-to-date on products these days and it is unlikely I will ever recommend any particular product.

Cheers - and carefree travel to you as well when that Jayco comes home - John



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2006 Discovery 3 TDV6 SE Auto - 2008 23ft Golden Eagle Hunter
Some people feel the rain - the others just get wet - Bob Dylan



Senior Member

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Hi Soda try youi I have just put a claim through and they are great no hassels ,and also I just had to renew car insurance for my wife and they took $108 off the next best quote,i have moved all my insurance to them and they have saved ne well over 500 dollars ,in house contents,cars .van .see how you go .I must also say that when my van claim was going though that youi kept me up to date with what was going on though phone calls ,yes a real person contacting me .mike g g



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Mike g AWD Ford territory diesel 635 Coromal,



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I'll also recommend YOUI from actual experience with a claim.

I also reckon that the advice that John (rockylizard) gives is spot on and is what a sensible person should follow, however the average person just does not have the time or patience to follow all that advice which really would take weeks to research and usually ends up with a company that is either recommended, has a good sales pitch or is the cheapest.

One problem with fully researching insurance or for that matter virtually any product is that to properly perform the research you must volunteer virtually all of your personal private information before which the company then retains on record.

Good Luck

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Denis

Ex balloon chaser and mercury measurer.

Toowoomba.



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Yep - Rocky is on the ball with a good answer. Be SO careful with RV insurance as many have exclusions as to what they will actually pay out on in the event of the claim.

Try your own Insurer then a couple of others but the most important thing is to have a good read of their PDF (product disclosure form) which you should be able to access on-line. These are required to be written in plain English and then you can see exactly what you are, and are not getting, for their offers

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Cheers Bruce

 

The amazing things you see when nomading Australia



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Gday...

cry Unfortunately, ya pretty right Hako. hmm

However, people who don't take the time to select coverage for THEIR requirements and then make their decision on price, either alone or predominantly, they then whinge and carry on (often on forums) about how insurance companies are a rip-off.

As I said before, buying insurance is entering into a CONTRACT, and the clauses you accept in that contract are what the insurer will honour. There is little point in paying a lower price for a policy that does not cover the items you NEED covered - and for that coverage to be under circumstances that may occur in how you will require that coverage.

Everyone believes they are taking insurance to cover the 'full loss'. However, the vast majority of claims are items/incidents that are only a fraction of the value of the total van. Total loss of the asset is the exception rather than the rule in regard to claims.

You might as well save your money and, instead of trying to transfer risk to the underwriter, assume the risk yourself ... and don't give away your money for little or no coverage.

If something happens, then use what you have saved to remedy the incident. Then you only have yourself to blame if it costs more $$$$$$$ to repair/replace than you had kept in your bank account.

Cheers - John



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2006 Discovery 3 TDV6 SE Auto - 2008 23ft Golden Eagle Hunter
Some people feel the rain - the others just get wet - Bob Dylan



Senior Member

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Gooday,

 Have been with other companies and found Ken Tame & Associates through CMCA is best value for us. Were with Allianz for several years and had a couple of small claims and they were very good to deal with.

OK you need to join CMCA as an Associate Member if it is a caravan, you get some of the member benefits such as the RV Parks they are setting up, be part of their Leave No Trace scheme, which enables you to stop in many places where that is mandatory, they are also developing a Member Stopover Scheme with quite a number of places already available and some other things 'IF' you wish to avail yourself of them.

 We have the Caravan & Tow Vehicle insured with them, as well as our second car for a hell of a lot less than we could get all 3 insured elsewhere, Allianz are the underwriters for the Insurance, I think that they also own most of The Ken Tame operation now anyway.

A bit of mucking around when you join but it covers you and them.

 Cheers,

 Bliss on Wheels.



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Cheers,

Bliss On Wheels

 



Senior Member

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Just be careful with the Ken Tame Insurance, as he has sold the business and now there have been a few complaints re claims. This has come up in Facebook groups. I for one are very happy with CIL, met all our requirements and gave us extra contents insurance as we live in our van full time.

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On the road full time and loving it.



Guru

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Welcome to the forum soda

We have been with CIL since we started this adventure. OK it's a bit more expensive than the others BUT when I ran into a tree and (on the same trip) left the handbrake on and burnt out my caravan brakes they were brilliant. Phoned them, sent photos, they sent their assessor and bingo all repaired after I paid the excess on each claim. They even had a person guide me through the process and never an issue despite "self inflicted" stupidity. They even put us up in a caravan park cabin while our van was being repaired as we live in the van 24/7. It is comforting to know that CIL are there.

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Ex RAAF, now retired. EX Electrician/Teacher.

Homebase is Murray Bridge Tourist Park (in a cabin). New Horse.. 2020 Ford Everest Titanium, Jayco swan for touring.

Life is way too short to be grumpy.



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Phil - I went with CIL based on previous comments from you and others about their willingness to pay out and go the extra mile.

As yet haven't had to make a claim (this is our 2nd year with them), but they are much more flexible with what you can insure and the amount of the items then others

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Cheers Bruce

 

The amazing things you see when nomading Australia



Guru

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With RACV. Best pricing with member discounts and you have 2 weeks to read the mailed out PDS which if you don't like you can cancel and get a full refund.

Recommend you take Agreed Value NOT Market Value. Agreed value is usually near the same cost and it locks in the starting value for the entire year.

Don't forget to nominate those extras you had fitted or in the event of a total loss you wont get paid for them.

Re self insurance, consider this.
You may very well never have a cause to have a total loss claim, but, if you did have a total loss, with no insurance, for most of us it would be the complete end to being a nomad. Most of us could not afford to completely replace our vans out of our own pocket with limited income during our sunset years.
And, if it was not your fault, the time, effort and legal costs to pursue the other party to pay up, is horrendous. These days most insurers will only pay out to another insurer and simply refuse to pay to a private person without you taking them to court. I don't need that stress.



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Guru

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Hylife wrote:

~~~SNIP 

Re self insurance, consider this.
You may very well never have a cause to have a total loss claim, but, if you did have a total loss, with no insurance, for most of us it would be the complete end to being a nomad. Most of us could not afford to completely replace our vans out of our own pocket with limited income during our sunset years.
And, if it was not your fault, the time, effort and legal costs to pursue the other party to pay up, is horrendous. These days most insurers will only pay out to another insurer and simply refuse to pay to a private person without you taking them to court. I don't need that stress.


Gday...

I guess, as usual, I failed to convey the "tongue in cheek" aspect of my comment earlier about "saving your money" instead of taking out a policy that doesn't cover the way you intend to use the van.

I was not, and would not be, advocating 'self-insurance' of your assets. I was only trying, very poorly obviously, to say that given some of the exclusions/conditions in many of the "cheaper" insurance policies you are quite probably wasting your money.

It is pointless to pay hundreds of $$$$$ to find that you are not covered for an incident/event that occurs. However, too many people still take out policies on price alone and think they will be covered "for everything".

There is an ad on TV at the moment by the 'fastest growing" insurance company. They posture how they "tailor" the insurance to the individual and show examples how they have "listened to you" and provide coverage at a cheaper price than other companies.

BE AWARE - they show that Alice parks her car in a garage at home, drives it to the station, parks in secure parking, has no demerit points and therefore we saved her $XXX on her policy.

Also, David works from home and his car is securely garaged at home all day ... therefore etc etc etc.

The policy will clearly show, should Alice or David take it up, that when they are using their vehicles "outside of those conditions" they will have either little or no cover.

CAVEAT EMPTOR .... READ THE POLICY ... UNDERSTAND THE EXCLUSIONS which are more important than the inclusions ... choose on coverage for how you will use the asset, NOT how the insurer is saying they will cover it.

Sorry .... just needed to say I am NOT advocating "self-insurance".

Cheers - John 

 



-- Edited by rockylizard on Wednesday 13th of April 2016 09:18:41 AM

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2006 Discovery 3 TDV6 SE Auto - 2008 23ft Golden Eagle Hunter
Some people feel the rain - the others just get wet - Bob Dylan

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