4 Common Types of Campervan Insurance
Which type of campervan insurance do you need? If you own a campervan, then that’s a valid question that you’ll need to answer. Not all insurance for campervans is alike, so it’s critical that you select the right type(s) for your vehicle. Among the various types of cover, here are some of the most common ones:
1. Fire and Theft Campervan Insurance
This is one of the most critical types of campervan insurance that you should consider buying for your vehicle. Do you still need it if you maintain your van well and add theft-prevention devices to it? Yes, because stuff happens in life. There’s always a chance that a brand new van could be destroyed by fire.
There’s also always a chance that a van could be stolen in a posh neighbourhood. If your van is old, or you live in a high-crime neighbourhood, then you should definitely consider buying Fire and Theft Insurance.
What if you’re not in those situations? You should consider it anyway since there’s always a chance that your vehicle could catch fire or be stolen. If you’re still doubtful, then consider the number of volatile components of today’s vehicles and the generally higher value of vans over smaller vehicles such as campervans or motorhomes.
2. Third Party Campervan Insurance
By definition, this type of van insurance protects a third party but who is the third party? Before addressing that question, it’s key to address who the first and second parties are. The first party is the person who purchased a particular insurance policy for vans. A second party would involve someone who is specifically and legally linked to the policyholder.
So this type of insurance covers any damages that the policyholder causes in an accident. Is it possible for a van accident that your van is involved in will exclusively cause damage to your vehicle?
Yes, but a third-party could also be involved. If the damage is incurred (via injuries or property damage) during an at-fault accident, then Third Party Insurance will cover such situations. This type of insurance is absolutely and positively needed since your costs due to third-party damage could be extraordinarily high. Most of us simply don’t have enough savings to prepare for such situations.
3. Collision Insurance
This type of campervan insurance involves an accident involving another object used to move things or people, or a stationary object.
4. Comprehensive Campervan Insurance
As its name implies, this type of insurance covers everything except the kitchen sink. That includes:
- Accidental damage
- Personal Possessions
- Third parties
Should everyone consider this type of camper insurance? In theory, they should. However, Comprehensive Insurance is particularly advisable for certain situations. When driving any vehicle, there are tonnes of variables involved, so buying Comprehensive Insurance will give you peace-of-mind that you have the maximum types of coverage available. If you own a new van, then you should also consider Comprehensive Insurance, since you literally have more to lose. While the repair costs for fixing a new van can be sky-high, consider the alternative: buying a new one!
Besides the amount of van insurance that you need, also consider the type(s) that you need.