In the unlikely event of a total loss, how would my Static caravan claim be settled?
A. If your caravan is insured on a market value basis Towergate Bakers would pay the market value of the caravan and its contents at the time of the loss plus an allowance for site clearance. This would be by way of a cash settlement. If the caravan is insured on a new for old basis they would look to arrange replacement of the caravan with its brand new equivalent via the site to include the cost of site clearance, re-siting and delivery fees. In addition they would also need to replace as new the contents. Clearly it is essential that the sums insured are adequate because in the event of a total loss the repair settlement cannot exceed the sum insured. Please note that claims in respect of household linen and clothing will be settled on a market value basis and not new for old. If you decide not to replace the caravan our settlement will be by cash payment on a market value basis.
