What is the daily value coverage in caravan insurance?
The third-party liability (TPL) of your caravan is covered by your car insurance policy. Therefore, if you cause damage to others with your caravan, the third-party portion of your car insurance will cover your damages. However, damage to your own caravan is not covered by your car insurance. For this you have to take out a separate caravan insurance.
For somewhat older caravans (from about five to fifteen years old), you can take out caravan insurance with daily value coverage . You are then insured for:
-Damage caused by fire, explosion, self-ignition, lightning, storm and hail.
-In case of theft, you will also be paid the current market value.
Collision damage can also be insured. However, you must declare this separately.
Third-party liability (TPL) coverage.
As long as the caravan is coupled to the car, or has not yet come to a stop after being uncoupled from the car, legal liability is covered on your car insurance policy.
Do you cause damage to others with your caravan? Then the third-party coverage of your car insurance will therefore cover your liability. However, damage to your own caravan is not covered on your car insurance. Therefore, in most cases it is advisable to take out additional insurance for your caravan as well.
Approved security
Damage caused by theft or attempted theft will only be paid if the caravan meets the security requirements. A caravan is deemed to be secured with a VIP / TNO approved wheel clamp and/or a tow bar lock. Always keep the purchase receipts for these locks, so that in case of damage you can prove that you had the correct security.
When to get daily value coverage?
Caravan insurance with per diem coverage is recommended for somewhat older caravans (about five to 15 years old).
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