‘Market value’ insurance covers you for all the same things as ‘new for old’, but in the event of your holiday caravan being damaged beyond repair (written off) we will pay out your holiday caravan’s current market value, instead of replacing it with a brand new model. If your insured contents are also damaged we will replace them in line with their current market value. If you decided not to replace them, you would receive a cash settlement based upon the market value at the time of the incident.
‘Market value’ is nearly always cheaper than ‘new for old’, so is a good option if you are looking to save money on your insurance premium.
‘Market value’ cover is available on static caravans, holiday lodges and chalets up to 25 years old (unless your park has a block scheme insurance arrangement with us, in which case a different limit may have been agreed – please call us to check). We may be able to renew existing customer policies which have reached and exceeded this limit subject to satisfactory claims history and circumstances.
