With more and more people embarking on caravan holidays these days many people are loaning their tourers to family or friends, but it would be a disaster if they had an accident and turned out not to be covered by the owner’s insurance.
Well, according to a new study by financial research firm Defaqto, just 12 per cent of caravan insurance policies on the market do not cover the vehicle when it’s borrowed by family, with 57 per cent not covering use by friends.
In a wide-ranging assessment of the caravan insurance market, Defaqto analysed 42 different providers and 66 different policies and found that 73 per cent cover family use as standard.
Less than half that figure (32 per cent) provide cover for use by friends, while a further 15 per cent cover family use through a supplementary add-on. Eleven per cent cover friends in the same way.
Insight analyst for general insurance at Defaqto Mike Powell advises caravan owners to thoroughly check their policy before letting friends or family hitch up and head off on holiday.
“It would be a bitter pill to swallow if you lent your touring caravan to a friend and then found that your insurance wouldn’t pay out for any damage that happened to it,” he said.
