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new for old , but the caravan model is no longer available


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This has always wound me up with Insurance.  Whether it be for a new or older Caravan or a Car, they ask what the market value is, when insuring.  I make a point of asking them to tell me what the value is.  They are the ones with all the glass's guides and god knows what other means of finding values.  They will without any doubt use these in the event of any claim to try and show you were "under insured for the value".

My point is, this is their field of expertise.  I am not a Van or Car trader, so how would I know what the market values are.  Always seemed a strange way for the insurance world to work.  

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I had a Compass Rally twin axle stolen and had a new for old policy with the CMC.

 

Compass had discontinued the twin axle so we had to look elsewhere and decided on an Elddis Crusader Storm, the CMC actually told us we could have the newest model as it was about October time and when they did a comparison they noted the new one did not have a spare wheel and I had to accept this in writing.

 

They purchased it from a dealer in the South of England because they got a better price than our local dealer in Scotland so I insisted they delivered it to us and they did.

 

Ian

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2018 Range Rover Sport AB,  2015 Buccaneer Cruiser.

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Our caravan model has not been made for years and the 5 bed layout is rare now. It came from Glossop Caravans and every year I look at their site and see what the cost of something similar is that I would be happy with. The cost of that I use as the replacement value. It started at £16k and last year was over £20k and this year the insurer has said anything over £20k now wants security measures which I can not or do not want to use so I have gone for a market value, again based on Glossop caravans for a similar 2011 caravan. Insurers like new for old since the premiums go up each year due to the higher value.

3 hours ago, IanV8 said:

I had a Compass Rally twin axle stolen and had a new for old policy with the CMC.

 

....

 

They purchased it from a dealer in the South of England because they got a better price than our local dealer in Scotland so I insisted they delivered it to us and they did.

 

Ian

Does this mean you have to go down south for any servicing or warranty work ? If they would not let you have a spare wheel at about £100 to £150 they must be tight on money when paying out.

Edited by Paul1957
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3 hours ago, Paul1957 said:

 

Does this mean you have to go down south for any servicing or warranty work ? If they would not let you have a spare wheel at about £100 to £150 they must be tight on money when paying out.

The local dealer who did not get the sale did warranty and servicing and we bought our next van from them.

 

The spare wheel was not cost but was a feature the new van did not have so I had to say it was acceptable to me.

 

Ian

2018 Range Rover Sport AB,  2015 Buccaneer Cruiser.

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On 13/10/2020 at 17:51, moorgate said:

Insure your caravan for a defined market value. If it's a total loss take the money from the insurance  company and start again with a caravan of your own choosing. 

If you opt for cash you only get the second hand value of the caravan as otherwise it can encourage fraud. In most cases if you want something different they will let you have that and contribute the value of a suitable like for like replacement.

How you are treated probably depends on who you are insured with. The better companies will not worry about the odd difference, but others, usually the cheaper ones will try to save a bit if there is a difference.

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