Caravan and motorhome insurance premiums rise by a THIRD as thefts and repair costs soar

The price of caravan and motorhome insurance has increased by a third in two years as insurers pass on the cost of rising thefts and repair costs.

The typical motorhome premium is now £480, up 37 per cent from £350 in just two years, according to figures from comparison website GoCompare.

Meanwhile the average premium for a static touring caravan has risen in price by around £10 in the same period, to around £170 now.

These premiums are rising due to the increased cost of repairs and the rise in caravan thefts.

Home from home: Caravan holidays are enjoying a surge in popularity following the pandemic

Repairing motorhomes costs insurers more, and that is being passed on in insurance premiums to consumers.

For example, the cost of materials, energy bills and staff wages are all rising, as is the cost of supplying courtesy motorhomes and caravans after a claim.

Ryan Fulthorpe, motor insurance expert at Go.Compare, said: ‘The reported recent rise in caravan thefts is obviously very concerning for those who holiday in their motorhomes and touring caravans. 

‘Although having caravan insurance isn’t a legal requirement, it is important to have one in place, so you are financially protected should the worst happens, such as theft, as well as fire, accidental damage and weather damage to your caravan or motorhome.

‘Of course, as a motorhome is a vehicle then insurance is a legal requirement. 

‘The overall increase in average premiums has mostly come from motorhome policies, which are reflecting the increase in car insurance we have also seen in the past few months, caused in the main by claims cost increasing due to increased motor repair costs, supply chain issues, as well as a rise in labour costs.’

Caravan thefts rose by 7 per cent in 2022 as UK camping and caravanning holidays became more popular following the pandemic.

Insurance technology firm Atec said there were 375 caravan thefts in 2022, up from 351 in 2021. Only 11 per cent of stolen caravans in 2022 were recovered.

The average caravan stolen was worth £6,135 for the over-60s, and £3,064 for those aged 20 to 59.

Meanwhile caravan owners are also being warned to prepare for damage from storms, according to caravan insurance broker Compass.

Compass said there was a 16 per cent in claims for storm damage to caravans between 2021 and 2022, due to more extreme weather as a result from climate change.

In one case an entire static caravan was destroyed during a storm, resulting in a £148,590 claim.

Compass managing director Karen Stacey said: ‘Unlike bricks and mortar holiday homes, static caravans are particularly susceptible to damage from storms or floods.

‘Unpredictable weather events, especially flash floods caused by heavy rain on parched ground during the summer, can cause a significant amount of damage to static caravans.

‘We know caravan parks do everything they can to protect the units on their site all year round, but freak storms and the damage they cause are somewhat out of their control. 

‘Caravan owners should make sure that they have adequate insurance for their unit and take the time to do regular maintenance to ensure any damage is kept to a minimum.’

This post first appeared on Dailymail.co.uk