Touring caravan insurance

What touring caravan insurance sum insured should I have?

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

Agreed value (also known as guaranteed value)

This is designed to ensure that, in the event of a total loss, you get back the amount you paid for your unit (less any policy excess applicable). This is subject to the following qualifying conditions:

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