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People who bought insurance for their holiday lodge or caravan from Now4Cover have unfortunately been left high and dry after their insurer, LAMP Insurance Company, went into liquidation. This means that they are no longer able to meet any claim payments. So, if customers of Now4Cover have an outstanding or new claim, it is unlikely to be met. In addition, although any LAMP insurance policies that have not expired will remain in force, they are effectively void as LAMP is unable to pay out on any claims. It is also unlikely that LAMP will be able to refund any premiums to Now4Cover customers who cancel their policy. Policyholders are recommended to seek alternative insurance protection and apply for compensation through the Financial Services Compensation Scheme (FSCS). However, they will only be able to recover up to 90% of the money they have lost, and this is likely to take some time.

We all want value for money when buying insurance, but this shows that there’s much more to choosing an insurer for your holiday lodge or caravan than just the premium. If the price looks too good to be true, then it probably is. Companies can’t sustain such low prices for very long, resulting in the risk of liquidation. Policyholders of Now4Cover have found out the hard way that it is a false economy to purchase ‘cheap’ insurance, and are now finding themselves to take out another policy for the same cover having lost their premium and cover with Now4Cover. Of course, no-one wants to pay too much either, but our experience is that true cover from respected insurers, the difference in premiums are in fact marginal, maybe less than 10%, so if the saving is in fact more, there is likely to be a material difference.

Financial strength and security

At My Holiday Home Insurance, all of our policies are underwritten by one of the Lloyd’s top insurance underwriters – Canopius. Insurers are rated by various agencies according to their financial strength and security, and Canopius is rated AA- (very strong), A+ (strong) and A (excellent) by three of the major ratings agencies respectively. See the details on the strength of Canopius’ credit ratings here https://www.canopius.com/about-canopius/security/.

When selecting an insurer for your holiday lodge or caravan, remember that its true test is when you need to make a claim. You need to be confident that the insurer will pay out, and that your claim will be handled professionally and efficiently with no nasty surprises. You should also check out independent insurance reviews and testimonials as part of your research.

For more information, or for a quote for your holiday lodge or caravan insurance, call our Northampton office and speak to one of our insurance advisers on freephone 0800 988 0890.

You can also follow us on Twitter, Facebook & LinkedIn.

Park Home Search – A New Way to Search for your Leisure Home

Park Home Search is a free online service that connects both buyers and sellers of leisure homes throughout the UK and it’s completely free of charge to use. There are no costs to either a buyer or a seller and it’s the perfect place to find your new dream leisure home.

Whether you are looking for a leisure home in the North, West. East or the South of England searching for your new leisure home just got easier.  Park Home Search is the place to look if you are looking to find your new dream leisure home as there are hundreds of leisure homes for sale and you can browse 24 hours a day at your own convenience. If you are not able to find the leisure home you are looking for, you can register to receive information about new leisure homes for sale in some beautiful locations in the country, as and when they become available.

How Park Home Search Works.

Manufacturers and park operators add their new leisure homes available on Park Home Search. This is free for both manufacturers and park operators which encourages them to list as many homes as they have, as soon as they are available.  Buyers can search the website for their preferred leisure home according to their preferences and this can be filtered down to the location, type of home and whether they want to rent or buy the home.

Relax and let Park Home Search do all the work.

If you prefer, you can register your details with Park Home Search and your information will be passed on to the relevant park operators.  The park operators will contact you when new homes become available in your chosen location and all information is GDPR compliant, so your data is secure.

What’s the benefits for the seller?

Manufacturers can list as many leisure homes as they want, it’s completely free and park operators can advertise any plots they have available at no cost too. Open days and weekends are also advertised on park home search by manufacturers and operators, with the option to upload photos, brochures and videos about the leisure homes.  The manufacturers and park operators have complete control of their own information as they are able to list, amend, remove and update homes all using one easy form online. There is the great added feature where sellers of the homes receive email leads from potential buyers interested in their homes providing sellers with complete control.

With the above features and much more available to both buyers and seller of leisure homes, there are so many reasons to use Park Home Search.  So many are already taking advantage of this free service, so why don’t you!

For further information visit www.parkhomesearch.co.uk.

For similar topics like this or for general leisure home insurance information, please follow us on Twitter, Facebook & LinkedIn.

Exclusively to My Holiday Home Insurance and new for 2019, we have enhanced our insurance policy to bring you better cover and even better value for money.

We always listen to our customers and review our insurance policy on a regular basis to ensure we are meeting the needs of leisure home owners.  With this in mind, we now bring you one of the most competitive and enhanced cover on the market with our new 2019 Leisure Home policy.

As specialists in the insurance sector and with over 13 years’ experience, we have tailored our insurance policy to meet the needs of our customers who own a static caravan, holiday lodge or leisure home in the UK.  With our new leisure insurance policy, you receive our highest ever level of cover, along with numerous choices of optional extra cover.  The optional extras we provide can be added to your standard cover to protect items such as decking, hot tubs, pedal cycles and sports equipment, just to name a few.  Our new leisure home insurance policy cannot be found anywhere else and offer you advisory cover to suit your individual needs, which means you only need to pay for the cover you require.

Outlined below is just some of the cover you can receive with our new 2019 insurance policy.

Insurance for static caravans and leisure homes (standard)

  • Maximum building sum insured increases to £120,000 (increased limits on sums insured).
  • New for old and market value cover policy now available on static caravans and leisure homes up to 20 years old.
  • Maximum contents sum insured increases to £25,000.
  • Accidental damage cover (when not let).
  • Up to £5million public liability cover.

Insurance for holiday lodges (standard)

  • Up to £500,000 buildings sum insured.
  • Up to £40,000 contents sum insured.
  • Up to £5million public liability cover.
  • Unlimited freezer contents cover.
  • Site clearance, transportation and re-siting cover.
  • Plus much much more…

Insurance for holiday lodges, static caravans and leisure homes (optional cover)

  • Accidental damage when let.
  • Malicious damage by tenants.
  • Sports equipment.
  • PLUS much much more…

Discounts Available:

  • No claims discount.
  • Over 50’s discount.
  • Voluntary excesses.
  • Age of home discount.

For more information about our cover, please click on the relevant link below:

Static Caravan Insurance

Leisure Home Insurance

Holiday Lodge Insurance

Alternatively, you can call 0800 988 0890 and speak to one of our specialist advisors.   To keep up to date with information about static caravans, holiday lodges and leisure homes, please follow us on Twitter, Facebook & LinkedIn.

Are you thinking about buying a holiday lodge?  Owning your own holiday lodge and having a beautiful retreat away from the normal everyday life, sounds like a tempting idea.  However, buying a holiday lodge could be a confusing and daunting task, especially if this is your first time, so we’ve put together some helpful tips about what you need to consider before making your final purchase.

What will your holiday lodge be used for?

Do you just want somewhere to relax for the weekend?  Are you looking for a second home, which you can enjoy in the summer months?  Are you looking to buy a lodge as an investment to generate rental income?

These are important questions to ask yourself, as this will ensure you find the right location for your lodge.

How far would you like to travel?

Having a holiday lodge in Devon or Cornwall, sounds nice, but you need to think about how long the drive will take and whether you could face it.  You could be travelling a distance with perhaps pets, elderly relatives or children. It would be good to set a travel limit, making sure that your holiday lodge is situated in an area where you will be able to do the things that you love to do in your leisure time.  If you are thinking about the rental potential of your property, a location close to beaches, tennis or golf clubs, sailing or even walking trails would be an advantage. There are beautiful parks in coastal locations throughout the country, so you will have plenty to choose from. If you already know where you would like to be located, speak to the parks in the area so they can give you guidance throughout the buying process.

What costs are involved?

The cost of a holiday lodge will depend on the size, number of bedrooms and the specification, just like if you were buying a house.  If you are buying a lodge on a park, you may be given a turnkey price, which can include the lodge, fixtures and fittings, parking space, a garden and sometimes even decking.  This all really depends on the park, so be sure to check what you will get with your purchase.  Where your park is located will also affect the price.  If your lodge offers fantastic views, is on a popular park or located near the coast, lakes or rivers, then it could cost you more than one that does not have these spectacular views. Also, remember that there is no stamp duty to pay when buying a lodge!

So, you have found the perfect park, what next?

You need to consider the times during which the park is open and closed and whether there are any restrictions in place about how long and when you can use the park.  Some parks are open all year round, while some close for up to three months in the year.

Another consideration should be the additional annual costs you will be expected to pay.  With every park being different you need to think about annual ground rent and maintenance charges. You may also need to set aside money for the utility charges and holiday lodge insurance. Consider how long the licence or lease is and what type of warranty the park is offering. Each park should be able to estimate the charges for the year.

Can I sub-let my lodge?

This really depends on the individual park.  If you want to maximise your rental income, then you should consider a park that encourages sub-letting and has good facilities. Some sites do not allow this as they are looking to maintain a neighbourly and secure family environment.  If you are looking for a quiet location then it would make more sense not to purchase on a sub-letting park.

There are many advantages to owning a holiday lodge: it offers a cost-effective way to enjoy holidays all year round without the need for check-in or check-out. Finding the right location is essential, if you intend to spend a lot of your leisure time getting to know the area.

Before you make your final decision, take some time to speak to other lodge owners on the park and find out how their experience has been.

For more helpful tips or for similar topics, please follow us on Facebook, Twitter and LinkedIn.