Premium increase?

Prices of everything in all walks of life are set to rocket. Unfortunately, we need to get used to it.

It doesn't matter how little you used your van last year as that has no bearing on this or future years when repair costs and the size of claims is set to leap.

With which of the cheaper companies did you throw your hat in the ring?

I have not made a decision yet as have until end of the month, but Ripe seems favourite at the moment as underwritten by Arriva.

In terms of premium, the crunch will come 12 months down the road at renewal time with another company.

Let us know how you fare.

PS. I guess that's underwritten by Aviva rather than the bus company.🙂

WE all have different requirements and history, but for comparison.

I've been with many insurance companies including the C&MC, SAGA and Lifesure. Unfortunately the excellent insurance the club offers is beyond my means. When I came to renew in Feb Ripe and Cover4Caravans quoted very similar premium prices to each other. I went with Cover4Caravans [Zenith] who came in at £268 for van, contents and awning on a £25.5K new for old, £100 x/s, European cover etc. This was just over 1/2 what the club wanted to charge.

When you consider how large the club membership is, it's buying power and in effect it's access to a captive audience, it does surprise me that so many of us go elsewhere as they cannot offer a competitive premium

Colin

It’s a business like any other, EM, it will charge what it can. If it feels it’s got a captive audience, then it’s likely to charge more rather than less.

Having said that, I stand by the points I made earlier regarding rising repair costs and the renewal fees chargeable next year with other 'cheaper' companies.

I agree about rising renewal premium for 2nd year. Looking back at the different providers, my longest run was with Lifesure who took 7 years before premiums rose by anything more than a few pounds.

Colin

Bearing in mind that the premium you are being offered by the club does not include Insurance Premium Tax which gives the club a significant cost advantage. The club should be cheaper, not dearer.

That is one of the points I was trying to put across.  The cover may be excellent but the premium is actually higher than many mainstream insurers.  We are both pensioners so have to have a good look around at what the competition is offering.

Just a word of caution.

I haven't checked the clubs policy but in times past if you are insured on a New for Old basis, or even didn't realise thatat is what you are covered for as some people don't check their wordings, then your sum insured on the caravan should reflect the cost of replacing it today with a brand new model so reducing your sum insured may lead to under insurance.

This principle holds true for all insurers that I have insured my own unit with over the years.

Over £500 that is eye watering. Your van must be worth a fortune or do you not have full no claims discount. Mine came this week up to £326 from £316 for a Coachman VIP 460 2021 model. It will be more after I phone them as the value of the van will have gone up for the new for old cover. 

I do get discount for Alko wheel lock, alarm and the alco ATC.