12/03/2010
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Sponsored feature - Park and holiday home insurance Q&A

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Choosing Park Home or Static Caravan Insurance is a much easier task now than it used to be. Stuart Craig from Shield Total Insurance offers guidance.

Q.
How do I find out about insurers?

A. All the leaders in this specialist market can be found prominently in Park & Holiday Homes Magazine. Look out for those offering a ‘quote and buy online’ facility. This will take you through all you need to know and make sure that the product is exactly right for the level of cover you need. And you can read documentation – like the policy wording - in advance.

Q. Do I have to buy my insurance from my park owner?

A. The decision as to where to buy your insurance is entirely yours. The conditions in your park agreement may require proof of insurance to protect the park against the cost of removing the debris or to ensure some protection for the public against damage caused by you. However, you are a free agent to pick and choose from any authorised insurance provider.

If you are under pressure to buy insurance from someone other than your preferred choice, my suggestion is that you ask the Financial Services Authority (“FSA”), to help you. The FSA can be contacted on 0845 606 1234 or at www.fsa.gov.uk.

Q. I’ve been hasty in buying my insurance – what do I do?

A. Even after you take the plunge, you are entitled to a 14 day ‘Cooling Off Period’ when you can change your mind. This starts when you receive your documents or when the insurance starts, whichever is later.

Q. When should I buy insurance?

A. As soon as you sign contracts to buy a park or holiday home it is important to ensure you have insurance for the new home in your name. You can get a valid quote over the phone or on the internet up to 31 days beforehand.

Q. I am confused by the expressions “new for old” and “market value”. What is the difference?

A. Most insurers offer either New for Old or Market Value cover but, for older units, the option is often limited to Market Value. In the event of a total loss, New for Old will give you a new equivalent unit. Market Value will give you an equivalent unit of the same age and condition as the one you lost. In both cases, your sum insured must be sufficient.
Calculating an adequate sum insured is essential; use the insurer’s websites to guide you through this process.

Q. Why do I need a sum insured higher than the cost of replacing my holiday home?

A. If your Holiday Home is destroyed, there are a number of additional costs that will arise. Firstly the remains of your destroyed Home have to be removed and there are strict environmental rules governing the way in which this happens. I would normally expect the cost of debris removal to vary between £2,000 and £5,000, but strongly suggest you seek advice from your park owner.

A delivery charge will be made to cover the costs of transporting your replacement Holiday Home to your park. When it arrives, further charges will be made to site your Home on your pitch and connect it to park utilities such as electricity and sewerage etc. In both of these cases, your park owner will advise on costs.

Image courtesy of www.parkholidaysUK.com

CONTACT:
Great value Park and Holiday Home Insurance from only £82.75. Call or buy online.
Shield Total Insurance - the one stop shop for all your insurance needs.


Shield Total Insurance

Shield Total Insurance, Juniper House, Warley Business Park, Brentwood, CM13 3BE
Tel: 01277 243004
Website: Click here

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