With all the belt tightening going on these days, people are sensibly looking for more ways to save their hard-earned money. There is an opportunity to do this with your insurance policies. If you have a caravan insurance policy you may want to think about opting for a voluntary excess.
Almost all policies have an excess as standard. This means the insurance company will only pay the amount of any claim minus the amount of your excess. Clearly the higher the excess on your policy, the less you would receive back in the event of a claim. However bad this may sound, it also attracts the benefit that it reduces premiums.
It is important however that you get the balance correct. It’s great to be able to save some money on premiums, but you have to bear in mind the practicalities if you have to make a claim at some point. You need to be realistic about whether you could acutally afford to cover the excess. If you choose a voluntary excess to save yourself some money, you need to know that you could bear the cost if you need to make a claim.
So with some common sense it is easy to save yourself money on your caravan insurance. You just need to consider carefully that you are getting the balance between saving money and protecting yourself adequately