I hope all of you are enjoying good health and wealth. Recently, I purchased a used caravan and looking for insurance. Actually, we don’t use this van a lot and only use it on holidays so, should we can static caravan insurance for you? Can you please explain its importance? I was just looking some static caravan insurance quotes at here but still confused about its pros and cons.
I’m in the USA, and I’m not really familiar with the term “static insurance”, but I can tell you how I figure mine out.
I carry just liability insurance that doesn’t cover my vehicle. If I had full coverage on my older vehicle, it would pay out less than the payments over the course of a year would cost me. So I just keep an emergency fund large enough to replace everything, and live on for at least a year. Then I only pay for the cheaper insurance.
The insurance wouldn’t pay me enough to replace everything anyway, so I’d rather save the money.
If it costs $10 a month extra, it might be worth it. Insurance values my van at $1,000, but they want $100 a month extra for full coverage. That would cost me more per year than what they’d pay me. Putting it into a bank account makes better sense in my case.
Actually, static insurance is considered good for caravans that are stayed one place and we don’t use them a lot. Maybe it covers your investment. My friend told me about this insurance few days ago, I am also still searching on it. Anyways, thanks for your suggestion