A motorhome is probably the second most precious asset anyone will own after a home. This being the case it is crucial that it is sufficiently insured. Recent studies have highlighted that an alarming 37% of people are underinsured as far as their motorhomes are concerned. This can have really expensive consequences if anything does happen to the motorhome while it is in use.
It is always better to have specialised insurance whether the vehicle is on the road or parked in a holiday location as accidents can happen when they are least expected, and they can cause expensive damage. Always make sure that there is proper cover in the event of property damage, theft, or even bodily injuries. Liability claims have increased by 33% over the last few years and there is no one better than an insurance broker to check the policy you are considering is fit for purpose. They will also be able to find an insurance policy that covers other expenses such as towing and repairs.
As there are many drivers on the roads with no insurance a broker can make certain that there is adequate cover in case of damage caused by an uninsured 3rd party. Uninsured drivers inflict a major financial burden on other motorists and it is estimated that it costs the industry around £380 million each year or around £30 of the cost of each insurance premium. Police are now seizing around 1,500 uninsured vehicles each week and the seriousness of the offence is reflected in the level of the maximum fine of £5,000 along with the automatic endorsement of an offender’s licence with six to eight penalty points. However, this is failing to deter some drivers as there are around 900,000 motorists under the age of 30 who are currently driving with no vehicle insurance, another reason why having the correct motorhome insurance is vital.
Specialist motorhome insurers will be able provide details of what is covered in your premium and if you are unsure about anything, always ask the broker. One important factor to bear in mind is do not make any assumptions about what is insured. Do not assume that large insurers will provide the most amount of cover. For example, a well-known motor insurer may offer motorhome insurance as a subsection of their overall insurance portfolio, but it will not be their speciality whereas a specific motorhome insurer may well be less known but they will provide a more comprehensive policy at a better rate. These polices can be hard to find for the average person but a broker will know exactly where to look. Anyone setting off on a holiday this year shouldn’t spoil the trip by being underinsured, or worse still, having no motorhome insurance at all.