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Hello i have rang the insurance for tommorow's pick of our new caravan, they have offered me two different policies either new for old,,,to replace our van on this policy the van would be insured for £17.999, so an expensive policy, however maket value is £40 a month cheaper basing this on a value of £11.000, has anyone else any experience of new for old ?? is it worth it ??? what to do ??? thankyou

We've got new for old because we have a brand new van & assuming they're like cars they'll depreciate ridiculously in the 1st couple of years.  We'll prob keep new for old for about 3 years then may switch to market value (uness they give a silly market value!).

We've just had our renewal thru from Club Care (C&CC) & I ran the details thru Caravan Guard for a comparison - Caravan Guard were £157 dearer for a lower level of cover (theirs didn't include key or legal cover) so it may be worth you shopping around!

I'd go for New for Old before market value every time. Market value sometimes shocks people when they claim & find the valuation of their loss can sometimes put them out of the game because they can't afford to replace what's been lost.

Obviously it depends on your opinion of the premiums involved but for me it'd be New for Old.

BB

We have got new for old insurance ad our van is nearly 4 years old.

Quote: Originally posted by lozzie on 12/2/2010

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Hello i have rang the insurance for tommorow's pick of our new caravan, they have offered me two different policies either new for old,,,to replace our van on this policy the van would be insured for £17.999, so an expensive policy, however maket value is £40 a month cheaper basing this on a value of £11.000, has anyone else any experience of new for old ?? is it worth it ??? what to do ??? thankyou

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