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Olympus Equivalent?


Eddiewin88
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We have our Olympus insured 'new for old' with Saga The insured sum is £16,000

 

Following a discussion with Saga, there seems to be a problem now that the Olympus is discontinued.

 

Saga say that in the event of a total loss they would ask Bailey what the nearest equivalent model is - a 'Pursuit', or a 'Pegasus'

 

If Bailey say 'Pursuit', no problem - the £16,000 sum insured is enough to fund a new Pursuit model.

 

If, however, Bailey say that the Pegasus is the nearest equivalent, then we're in trouble/

 

The Pegasus range is around £18,000 - £19,000 - which means that Saga would deem our Olympus to be under insured, and they'd only pay market value (probably around £10. 500)

 

I've emailed Bailey, asking them what model they consider to be an equivalent - hopefully they will respond before the insurance renewal date at the end of August.

 

Given that the Olympus has a high specification, would you consider a Pursuit model, or a Pegasus model, to be a suitable equivalent?

 

 

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That's interesting. We are in the same situation. I will be interested to hear what bailey say.

Always said. ."I'm not having a caravan. ..that's not proper camping!" Now I have my Bailey Olympus 464. .why didn't I get one sooner?!!

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Interesting, having just looked at a new Pursuit we ended up buying a 2 yr old Olympus, mainly because the overall quality of the Olympus was much higher. I wouldn't be happy to have it replaced with a Pursuit. The Pegasus seems a step up, so the Olympus probably sits somewehere in between.

 

Wasn't aware of the under-insurance trap, that seems a bit sneaky, best check my own polict !

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When I insured our olympus last year it was matched to the pegasus as in my opinion the pursuit is not the same spec. Insurance company agreed

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I asked this question when I renewed my insurance with another company. They said not to worry as a total loss would mean they would issue me a queue for the sum insured and then I could put that towards a new van. I rather it like that.

Caravanless. ...

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Thanks for all the input.

 

I hope to hear from Bailey next week, but I'll probably increase the sum insured to reflect replacing the Olympus with a Pegasus.

 

I think the Pursuit was downgraded a bit too much (obviously to put clear water between it and the Pegasus - which the Olympus didn't do, having virtually the same spec)

 

The difference in premium isn't as much as I'd assumed - so unless Bailey respond by saying they'd advise Saga that a Pursuit was a suitable replacement (in which case I'd be wasting the extra premium) I'll just insure it for more.

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We've just changed from an Olympus to a Pegasus. Would go for the peggy.

Lovely van and actually more stable than the olly too towing, plus bigger overall for the same weight. Enjoying our first night in it currently in France, so smiles all round, SWMBO included!

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I asked same question of my insurers - they said I would get Peggy to replace Olly in the case of a write off.

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We've just changed from an Olympus to a Pegasus. Would go for the peggy.

Lovely van and actually more stable than the olly too towing, plus bigger overall for the same weight. Enjoying our first night in it currently in France, so smiles all round, SWMBO included!

 

Interesting comment about stability - I've been finding our Olympus a tad unstable on our Tiguan. I've had everything checked and rechecked, and I was already coming to the conclusion that the problem lies with the caravan - not that there is anything *wrong* with the van, just that the design (the narrower width, perhaps?) tends to instability.

 

How bad did you find your Olympus - and how much better is the Pegasus?

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the closest spec for spec replacement would be the pursuit, but im sure insurance company would allow you to have a Pegasus providing you insured it for the replacement value of a Pegasus, and paid the higher premium for it.

 

 

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the closest spec for spec replacement would be the pursuit, but im sure insurance company would allow you to have a Pegasus providing you insured it for the replacement value of a Pegasus, and paid the higher premium for it.

 

 

Possibly - but Saga were adamant that they would ask Bailey for their opinion, and then supply the van that Bailey told them was an equivalent.

 

That means that we could pay extra to insure for a Pegasus, but still get a Pursuit.

 

IOTOH, Bailey decided that a Pegasus was a replacement, and we were not insured for that amount, Saga would not (as I'd assumed) just hand over £16,000 and tell me to get what we wanted, and put any extra cash ourselves - they would say that the van was under insured, and would reduce any payout to just market value.

 

They were quite definite on that point.

 

Not quite what I'd expected from Saga, actually - but other companies would also probably seize the chance to pay out much less.

 

Hopefully Bailey will reply soon, as they seem to be the arbiters of the whole thing.

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^ you are correct, they will only pay market value if its not insured for the correct new value van, though I've never heard of your scenario before of an insurance company insisting on factory confirmation.

 

 

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^ you are correct, they will only pay market value if its not insured for the correct new value van, though I've never heard of your scenario before of an insurance company insisting on factory confirmation.

 

 

No, it's not something I've come across before, either. It came up when I was chatting to them about the renewal, and they were absolutely insistent that the underwriters would confirm a replacement with Bailey - this is because the Olympus is now discontinued.

 

I assumed (wrongly) that in the event of a total loss, and with no Olympus available, they would simply give me the sum insured and leave it to me to find a replacement - but no.

 

It's a good job it came to light before any future claim.

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Eddie - I think it's car dependent as had towed with an smax before and the olly was fine, but put it on the merc and it was never settled.

With the Peggy we find that you don't really know you are towing.

Much more stable, less bounce and just a lot more comfortable tow. I know the Peggy has different shocks and has balanced wheels, but it also has the gas bottles in the middle of the van.

I can now run at a nose weight of circa 65kg and it tows like a dream.

It's also a great van tbh. First night in it last night and it's smiles all round

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I,be found saga rather belt and braces in the past. So no longer insure with them,I am sure not many insurers would be so pedantic.

Honda CRV 2. 2 CTDi with a Bailey Unicorn Valencia

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I,be found saga rather belt and braces in the past. So no longer insure with them,I am sure not many insurers would be so pedantic.

 

 

Yet when it comes to caravan security, they are one of the most lenient insurers

 

Saga ask for only one device - hitch lock or wheel clamp, and they don't specify the make or type. A £10,00 hitch lock. would satisfy them.

 

All the other insurers I tried wanted at least two devices - and some of them, depending on the value of the caravan, insisted on an alarm.

 

I've carried wheel clamps in the past, and found them a real pain, especially putting them on on wet field. It's odd that Saga can be so relaxed about security, yet so finicky over the sort of caravan they'd supply as a replacement.

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Eddie - I think it's car dependent as had towed with an smax before and the olly was fine, but put it on the merc and it was never settled.

With the Peggy we find that you don't really know you are towing.

Much more stable, less bounce and just a lot more comfortable tow. I know the Peggy has different shocks and has balanced wheels, but it also has the gas bottles in the middle of the van.

I can now run at a nose weight of circa 65kg and it tows like a dream.

It's also a great van tbh. First night in it last night and it's smiles all round

 

 

Thanks - it certainly sounds like you're having fun :D

 

I'd read that Alutech can be fussy about towcars - I've tried *everything*, and I'm still not happy with the way our Tiguan tows the Olympus.

 

It was so unnerving that I took the car back to VW (it was brand new) and asked them to check the suspension in case it had arrived from Germany with something not properly tightened.

 

Also had the caravan breaks and bearing check - all fine, wheels pristine, so not bashed over a kerb that might have affected tracking, everything seems fine with the caravan mechanically.

 

I also had the towbar rechecked, changed the friction pads, greased the hitch shaft, added a spacer in case the hitch was fouling the bumper protection plate, rewired the plug in case an intermittent fault was affecting the ATC, even fitted Grayston spring assisters - you name it!

 

After all my efforts it was a little bit better - but still nothing like as stable as I'd expect, and nothing like other caravans I've owned.

 

My latest effort was today - change the towball for a genuine Alko (it already had an extended neck ball that came as part of the PTC towbar package) stripped the hitch head down completely to clean and grease the actuator arms, and finally another brand new set of pads (sides & front/rear)

 

You can tell I'm getting desperate :D

 

I haven't towed after my latest repairs - but deep in my heart, I'm really starting to think that it's just the design of the caravan and that it will never be *really* stable.

Edited by Eddiewin88
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What nose weight are you using. My olympus seems a bit picky and although I can use the 100kg of the hitch it tows better around 70-75kg

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Eddie

We have a tiguan and an Olympus 530-4

And towing stability is fine

Which model tiguan and Olympus do you have?

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@steve frs - I tried it at around 80kg (measured with a Reich gauge) and had to increase it to over 100kg to get any improvement.

 

@katieb - it's a 2014 4Motion, the van is an Olympus 525 I've tried various loading combinations - anything heavy in the centre of front.

 

Cheers

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Heard from Bailey - they say that the equivalent model is a GT6 Ancona.

 

I rang Saga to confirm the premium increase, and they said they had to consult their claims department (really seemed to making heavy weather of it all) and would call me back.

 

When they rang back they said that they'd been instructed to leave the sum insured at £16,000 - and if it becomes a total loss they will still replace with a Pegasus!

 

How odd - it's the first time that I've heard of an insurance company offering something for nothing. Obviously, I've asked them to confirm it by email.

 

Even odder - when I asked why they were keeping the sum insured at £16,000, but still offering to replace it with an £18,000 van, the Saga rep told me that their claims department (they underwrite the policy themselves) had told her, "Well, it hasn't happened yet" (meaning a total loss)

 

Surely, assessing the risk and calculating the premium for things that 'haven't happened yet' is the very essence of insurance?

 

Oh well - as long as I get that confirmation email from them, I'm not complaining.

 

I've never had an insurance renewal as complicated as this one.

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We have the same car

I keep two calirlite bottles in the front and we have just under100 kg noseweight which seems fine

I don't drive over 60mph which is fine and I always make sure the tyres are at the recommended pressure for towing if that helps

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Renewed my 5Cs policy on Olympus 530-4 2012 yesterday.

 

CC position was that I could go one model range higher and match to the on the road price of the appropriate model as Pursuit was not appropriate.

 

We agreed a match to GT65 Verona with a slight premium increase to match increased value.

 

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