Your Used Motorhome Still Needs Insurance Protection
No doubt there are plenty of excellent, still well-conditioned second hand motorhomes
that are great investments for people who are looking for a vehicle in order to go on holiday. Motoring is a great way to enjoy a holiday and provides the owner with too important aspects for a successful holiday.
The first is that it is comfortable motor transportation and the second is that it can be a comfortable home away from home. Most modern day motor-homes, including quality used specimens, are well-equipped with all the luxury items you would find in a typical stationary home including satellite television, DVD and CD players, digital stereo music components, microwave ovens plus much more. Regardless the age of your "new" motor-home, if you have found one for a bargain price, you still have the need to protect its value along with the amount of your investment.
Purchasing a Used Motorhome Also Saves On Insurance Premiums:
Insurance providers typically have their actions guided by the book. Now, this book can be almost anything that allows an insurance provider to look up information that helps determine policy features and pricing. The value of a vehicle is always taken into account when it comes to assigning policy price after all specific features are agreed upon and included.
The value is also different than purchase price. Value takes into consideration replacement cost. For example, if you happen to have purchased a motor-home at a public auction where you wound up paying a price several thousand pounds below market value, you now have a bargain. However, the insurance provider will look up the motor-home make, model and year in order to set a premium price.
Depending upon how this is looked at, it may be a great benefit since, if there was a total loss to your investment, you will have a replacement cost that reflects its true value and not your purchase price. There are other things to consider that will have an influence upon insurance costs and help you keep these to a manageable minimum.
Consider Increasing Your Excess Amount:
All providers will insist that a minimum excess amount is included with all policies issued. The excess amount is what an insured must pay out-of-pocket when a claim is administered. Opting to include a higher-than normal excess amount will reduce your monthly premiums.
This is something to consider, but the minimums from one provider to another may vary greatly, so check the policy wording before you consider opting to raise this excess amount. There is one important aspect about an excess amount that you need to understand and this is that it has to be paid in a lump sum.
Also, if your luck is not running fairly well one year and you have to make more than one claim, the amount of excess paid for an additional claim, or claims, may far exceed any monthly premium savings you might experience.
Planning On Staying the Side of the Channel?
Another way to save on monthly premium cost is to restrict your motoring holidays to UK roadways, camp-grounds and destinations. If you make no plans to motor on the European continent, you can omit this particular cover reducing the cost of your motorhome insurance significantly.
Even your used motor-home investment must be protected. Therefore, make a better investment in the type of motorhome insurance that is necessary protection.
by: Neil Anderson
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