Explaining Term Caravan Insurance

Term caravan insurance is an expression sometimes used within the insurance industry to mean the period of cover.

Jargon

All industries and professions tend to have their own specialised language (sometimes referred to as 'jargon'!) and insurance is no exception.

Broadly speaking, the term of the policy is simply the period of cover. So, for example, if you have an annual policy then it will have a term, typically, of 12 months.

So term caravan insurance simply means a policy that is valid for a specified period.

Other dates

The insurers exact practices may vary a little between companies but typically a policy or supporting documentation may contain a number of dates and specific times that you may need to pay attention to:

a quotation 'valid until' date - if you have quotation these may sometimes be only valid for a specified period of time and the date of expiry may be mentioned explicitly; commencement of cover - usually a date and sometimes an exact time, at which your caravan will be under cover; expiry date - the date and perhaps time at which your cover will cease to be effective unless you have taken steps to renew it; renewal notification date - sometimes used to indicate the date in the future at which time the insurance provider will notify you that a renewal is required (not commonly used in caravan insurance but you may see it); instalment dates - some policies that are paid in instalments may list the exact dates by which a payment is due.

Cover and dates

Insurance companies typically take very seriously the period of cover and the dates involved.

For example, if your cover is due to commence at 08:00H on a given date, then deciding to collect the vehicle the day before would leave you uninsured until 08:00H the following day unless you notified the insurers in advance and changed the date/time.

So, it's advisable not to get caught out on dates and times when thinking about your caravan and term caravan insurance.

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