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How to Reduce Premium for Caravan Insurance
Like any other vehicle insurance, Caravan insurance is meant to protect the owner against theft and damages incurred to it. Now, the caravan contains a lot of individual equipment and accessories which might increase the overall costs required for getting the insurance. If you calculate everything, then the premium value could turn out to be a pretty hefty amount.
It is possible to reduce this cost slightly without resorting to unethical or illegal ways. The fact is that there are provisions where discounts are provided upon compliance with certain specific features. Check out these features below.
Fitted Caravan Security Features
There are some insurers who might provide discount on the premium if you have the following fitted features in your caravan.
- Tracking system
- Alarm
- Electronic trailer stability system
- Locking corner steadies
The reason behind providing the discount is that the presence of these security measures reduce the risk of theft and harm to the caravan, and this decreases the payback possibility for the insurer. The only catch in this clause is that the security features need to be fitted on the vehicle and should be integrated with the system such that its efficiency is maintained.
Caravan Security Accessories
Some insurers might provide discount on the premium if you have the following features in your caravan.
- Hitch lock
- Wheel lock
- Corner steady locks
Unlike the fitted features, these are additional security measures that would prevent anyone from breaking into the caravan and it would also keep it stable when parked. There might be other measures, but these three measures that the common ones.
Club Memberships
This is based on pure business relationships where certain caravan clubs and caravan camping clubs tie up with insurance agencies where the insurer provides a discount for members belonging to the associated clubs. You might be required to do some research to find out the associated clubs, and if you are a frequent traveller, then the investments made towards getting a membership would be justified. However, if you are a casual traveller with very few annual trips, then this option should not be taken as the cost of membership might not justify your need for reducing the premium value on the caravan’s insurance.
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