Caravan owners are waiting longer before they upgrade their vans and Caravan Guard is advising them to check what age their ‘old for new’ cover runs out.
The caravan insurance provider has observed that in the last year policyholders have been keeping their caravans for longer, with changes of caravan falling 47 per cent compared to the previous 12 months.
Director of Caravan Guard, Sally Wilby, said: This is no doubt a sign of the recession, but also a sign of ever improving build quality of caravans. We were also finding many customers were disappointed to lose the optional benefit of new for old cover when their caravans reached 5 years of age.
Ms Wilby clarified that new for old caravan insurance cover replaces an old caravan with a brand new one if it is stolen, or is damaged to the point where it is not economically viable to repair it.