If you own a caravan, you will undoubtedly need a specialized caravan insurance policy to cover it, or you will risk losing what is probably the third largest asset and investment you own, after a house and a car.

Caravans are at risk of many hazards, including fire and floods, but they are also at risk of very different hazards depending on whether the caravan is tourist or static in nature. The insurance policies for each type of caravan reflect these risks and each type offers a different underwriting proposition that covers the specific risks that a caravan could face.

Static caravans are often used as temporary buildings when renovating homes, but more often as an investment in a holiday park near the sea. You don’t have to look back too far to remember the videos of the devastation caused to caravan parks across the country by extreme weather events like storms and coastal flooding.

Images of static caravans being swept up and picked up by the wind and thrown elsewhere are prevalent enough in the minds of most caravan owners to say that the hazards to caravans are obvious enough.

Static caravans also present a different problem for a caravan insurance company from the point of view of theft and property damage. These caravans are often left unattended for months and present a realistic opportunity for thieves. Static trucks are also at risk of fire and total loss because they use propane or heating gas for heating, cooking, and lighting.

However, touring caravans require a different type of policy, the main difference being coverage for “road risks”. A standard motor policy will not include coverage for trailers of a certain length, which always excludes caravans, so a caravan policy is required to allow you to take the caravan on tour. This covers all risks the caravan may face while being towed, at home or off the property where it is normally stored.

Each type of caravan insurance policy has a discount for years without claims like a motor policy would, but also cheaper coverage if the caravan is equipped with the latest safety devices and deactivation equipment.

Caravan insurance is inexpensive compared to other coverages and prices are kept low by the fact that the coverage pool is largely responsible older homeowners with a good history of auto insurance claims and less propensity for claims.

Buying RV insurance is a straightforward process and is available from many competing online insurance providers who will compare prices and coverage of RV insurance providers in a very short period of time. Very often it is just a matter of declaring your caravan and address details.

When buying caravan insurance online, look for coverage on comparison sites and brokers that offer discounts if you are a member of an approved club, such as the Caravan Club. Often times these discounts can be as high as twenty percent for affiliated caravan insurance plans.