fatgit Posted September 16, 2014 Share Posted September 16, 2014 After losing money on the caravan we purchased 6 weeks ago when it was written off, I don't want to be left in a similar position again. We've just bought a replacement at a significant discount over similar caravans of the same age, type and condition. In fact, the only other identical caravan we've seen is £2500 more, and the current book price is £800 more than we paid. Should we insure for the purchase price, book price or the replacement price? Not that up on insurance valuations etc these days as our car comes with insurance included. Cheers Quote Link to comment Share on other sites More sharing options...
Durbanite Posted September 16, 2014 Share Posted September 16, 2014 You always insured for the replacement value on a new for old policy. On a normal policy insure it for market value. Quote Link to comment Share on other sites More sharing options...
OWOMW Posted September 16, 2014 Share Posted September 16, 2014 If insuring for 'market value' as opposed to 'new for old' your insurer will normally tell you what the market value is currently. There's no point in insuring for anymore than this because that's the maximum they will pay out on a total loss. Don't forget to add in the value of contents, and of equipment - the list of these things is usually provided by the insurer to help you calculate. Quote Land Rover is now back towing. Link to comment Share on other sites More sharing options...
bob1982 Posted October 2, 2014 Share Posted October 2, 2014 Dont be surprised if they ask for receipts for the purchase price of the van. No point in over insuring. Quote Link to comment Share on other sites More sharing options...
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