If you’re exploring the possibility of purchasing a touring caravan, that’s great! However, it’s important to consider all the costs in addition to actually purchasing a tourer. For example, the cost of touring caravan insurance. A lot of people interested in purchasing a tourer ask me whether or not they have to insure their touring caravan, so I decided to answer the question.
By law, you don’t need to purchase touring caravan insurance. However, your touring caravan isn’t protected by your car insurance. Therefore if you don’t have touring caravan insurance, your caravan isn’t covered for damage or theft at home or on holiday.
While your touring caravan doesn’t have to be insured, it does make sense to protect your tourer with a policy. We spoke to Caravan Guard about the legalities around touring caravan insurance, so keep reading to find out what they said.
Does A Caravan Have To Be Insured?
On topics like insurance, I think it’s very important to get expert knowledge from an insider. For a previous blog post, I had the opportunity to speak to Liz Harrison, PR & Communications Manager at Caravan Guard.
I put the question of whether or not caravan insurance is a legal requirement to Liz, and here’s what she had to say.
“Caravan insurance isn’t a legal requirement but a specialist policy will provide cover for repairs or replacement after damage or theft, so you’re not left out of pocket. If you’ve paid thousands of pounds for your caravan it makes sense to protect it.
A common misconception is that you only need caravan insurance when you’re touring but a lot of claims are for when a caravan is not in use. When laid up it’s still at risk of damage from bad weather, or worst still, theft.”
So to answer the question — no, you don’t have to insure your touring caravan. But it certainly makes sense to do so.
Let’s remember that touring caravans can range in cost — expect to pay anywhere from £10,000 – £40,000. As Liz aptly put it above: If you’ve paid thousands of pounds for your caravan, it makes sense to protect it!
Annually, there are thousands of accidents on UK roads involving trailers of all kinds, including caravans. But something potential caravan owners often forget is the importance of making sure your caravan is covered even when you’re not touring.
According to AA insurance, approximately 4,000 caravans are stolen every year. Caravans are regularly stolen while stored, whether that’s at home on your drive or in a luxury vehicle storage facility that isn’t up to scratch. In fact, over 10% of all in-storage claims were made by policyholders whose caravan or motorhome had been stolen (source).
Caravans are also suspect to damage in storage. Most damage claims are made as a result of uncontrollable damage due to storms, floods, and snow. Caravans in storage can also be damaged by third-parties. For example, a caravan owner might accidentally manoeuvre their caravan into yours.
A caravan is a massive investment, so it’s important to protect it. At this point, you’re probably convinced of how important it is to protect your caravan with a touring caravan insurance policy. You’re probably wondering how much insurance for a caravan is going to cost you. Thankfully, I’ve got you covered there too.
How Much Is Insurance For A Caravan?
A caravan is an expensive purchase as it is. That’s before you even consider insurance. So how much is insurance for a caravan?
Insurance for a caravan costs £90 – £500. As part of our independent research, we determined the average cost of touring caravan insurance is £337.83. Factors that affect the cost of touring caravan insurance include the type of policy you choose, the age of the tourer, and where you’re storing it.
As part of our interview with Liz Harrison, PR & Communications Manager at Caravan Guard, we found out that touring caravan insurance premiums generally range from £90 – £500. While that gives us a rough idea of how much insurance is for a caravan, I decided to do some research and determine the average cost of caravan insurance.
The table below gives you the average cost of touring caravan insurance according to the value of the tourer. Please note: this is based on Market Value cover. New for Old cover will cost significantly more for older caravans.
| Tourer Value | Average Annual Premium |
|---|---|
| Low end: £6,000 – £14,000 | £184.36 |
| Mid-range: £15,000 – 20,000 | £268.39 |
| High end: £22,000 – £35,000 | £560.74 |
The annual cost of insuring your tourer will differ according to a range of factors, including:
- The value of the tourer: This factor has the greatest influence on the cost of touring caravan insurance. With any insurance, it goes without saying that the greater the value of the item you’re insuring — in this case, a caravan — the more expensive the insurance will be. In general, insurance will be much cheaper on a caravan valued at £10,000 versus one valued at £20,000 regardless of age and storage location.
- The policy type: There are two main policy types to choose from for caravan insurance: Market Value and New for Old. In my blog post, How Does New for Old Caravan Insurance Work? I explain how both types of cover differ. Succinctly, with Market Value cover you’re insuring your caravan for its current market value. With New for Old cover, you’re insuring your caravan for how much it would cost to replace it with the newest equivalent. So if you have an old caravan currently valued at £6,000, New for Old will cost you much more than Market Value cover.
- Storage location: Say you have two caravans valued at £20,000. One of them will be stored on the owner’s drive, whereas the other will be stored in CaSSOA storage. Caravan insurance will be cheaper for the one stored in a super-secure facility versus the other stored on the owner’s drive. That’s why it’s important to store your caravan in as secure a facility as possible. Often recognised by insurers, CaSSOA-accredited facilities are the best place to store tourers. Find out more about CaSSOA storage in my blog post What is CaSSOA Storage?
Considering the value of your tourer, it undoubtedly makes sense to insure it — even touring caravan insurance isn’t a legal requirement.
I hope you’ve found this blog post useful! Please feel free to get in touch if you have any questions and I’d be happy to help.