Park home insurance

What sum insured should I have for my park home?

Having an adequate sum insured is extremely important. So how should you go about ensuring your sum insured is big enough? The following provides a guide:

New for old (also known as reinstatement)

It is essential that you insure for the cost of a brand new park home of equivalent size and quality. The same applies to its furnishings and equipment, the only exception being clothing and domestic linen where an allowance for wear and tear should be made. Use this guide to help you calculate the correct sums insured:

Market value (also known as indemnity)

The park home and its contents should be insured for their current market value taking into account age, wear and tear.

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