Club Caravan Insurance
108 replies
Oneputt replied on 01/02/2019 21:12
Extugger replied on 01/02/2019 22:45
Posted on 01/02/2019 20:52 by WherenextSo where was the big explanation made?
The Magazine? The AGM? The CMC Website? The CMC Facebook Page?
I've not seen it before. For something this fundamentally different the club appear to be just relying on documentation sent out with renewal documents. Glad I don't insure our caravan with CMC.
Posted on 01/02/2019 22:45
Devious and misleading, if you ask me.
I had my fill of Devitts a couple of years back and wouldn't insure a matchstick with them.
I'm glad I use an actual insurance company and not caravan cover as something which operates in a similar way to caravan insurance doesn't cut it with me. My policy is also half the price quoted by Caravan Club Ltd, with exactly the same cover.
2 people like this
Wildwood replied on 02/02/2019 11:26
Posted on 02/02/2019 11:26
The club have explained on another thread. They now cover the risk themselves and pay out claims for damage to your caravan from the premiums received rather than put the business through a commercial insurer. They then reinsure the risk of claims exceeding what they can afford to give security. They are not a commercial insurer but have set up a legal alternative way of dealing with this which is far cheaper to operate but should still give you the security.
Hopefully with no commission to brokers or investors to pay dividends to it should mean a higher proportion of premiums goes to the claims and there is no commercial pressure to make as much money as possible which is there in the commercial sector.
Extugger replied on 02/02/2019 13:05
Posted on 02/02/2019 11:26 by WildwoodThe club have explained on another thread. They now cover the risk themselves and pay out claims for damage to your caravan from the premiums received rather than put the business through a commercial insurer. They then reinsure the risk of claims exceeding what they can afford to give security. They are not a commercial insurer but have set up a legal alternative way of dealing with this which is far cheaper to operate but should still give you the security.
Hopefully with no commission to brokers or investors to pay dividends to it should mean a higher proportion of premiums goes to the claims and there is no commercial pressure to make as much money as possible which is there in the commercial sector.
Posted on 02/02/2019 13:05
"Should" and "Hopefully" are not words I associate with guaranteed insurance. Furthermore, I think it has been done in an underhand manner, similar to what happened at Red Pennant last year and the reduction in cover.
Wildwood - you with your experience will know better than most how important transparency is in business and how the regulators demand that customers are treated fairly? Is this the case in this scenario?
ABM replied on 02/02/2019 15:08
Wherenext replied on 02/02/2019 15:17
Posted on 02/02/2019 15:08 by ABMHow very strange !! Does this only apply to CARAVAN INSURANCE / COVER ??
Certainly my Ducato has been insured via the Club through Devitts as agents for the Insurance Company this very weekend .
Posted on 02/02/2019 15:17
The club couldn't afford to self insure motor insurance Brian. The Public Liability exposure alone would be too great.
At least with Caravan cover they should have limited exposure as they will know how much each claim should maximise out at and be able to adjust premiums accordingly. They may well make a profit which will be good for the club but I personally like guarantees behind my investments and insurance and I don't like the way they appear to be going about it.
Tinwheeler replied on 02/02/2019 15:35
Posted on 02/02/2019 15:17 by WherenextThe club couldn't afford to self insure motor insurance Brian. The Public Liability exposure alone would be too great.
At least with Caravan cover they should have limited exposure as they will know how much each claim should maximise out at and be able to adjust premiums accordingly. They may well make a profit which will be good for the club but I personally like guarantees behind my investments and insurance and I don't like the way they appear to be going about it.
Wherenext replied on 02/02/2019 18:07
Posted on 02/02/2019 18:07
Yes, TW, I'm sorry I didn't explain myself very well and thanks for your post.
The Third Party Liability cover under motor insurance carries way more exposure than that under a caravan policy. In all my years in insurance I never dealt or handled a Public Liability claim under a caravan policy. The CMC probably feel their exposure is minimal.
Tinwheeler replied on 02/02/2019 18:44
Posted on 02/02/2019 18:07 by WherenextYes, TW, I'm sorry I didn't explain myself very well and thanks for your post.
The Third Party Liability cover under motor insurance carries way more exposure than that under a caravan policy. In all my years in insurance I never dealt or handled a Public Liability claim under a caravan policy. The CMC probably feel their exposure is minimal.
Wildwood replied on 03/02/2019 12:48
Posted on 03/02/2019 12:48
As someone who dealt with the claims the claims usually came from people falling off the steps and injuring them selves.
You also have to look at the caravan catching fire and that spreading to other units which could be very expensive.
Apart from those the risk is very low.
With motor insurance you do get the odd catastrophe claim that can run into millions. Possibly the biggest one I dealt with, was many years ago when a car pulled out to turn right and a coach was overtaking him. The bus ran off the road and down an embankment with multiple injuries, although thankfully no fatalities.
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