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How to Lower Caravan Insurance Premiums: Our Top Tips

How to Lower Caravan Insurance Premiums feature image
| In Tips & Tricks

Owning a caravan in Australia is an unparalleled way to explore the vast beauty and diversity of the country. From the rugged coastlines of the Great Ocean Road to the serene landscapes of the Outback, a caravan offers freedom like no other. 

However, this freedom comes with its own set of responsibilities, one of which is securing the right caravan insurance. While essential, caravan insurance premiums can sometimes be a significant annual expense for owners. Fortunately, there are strategies you can employ to lower these premiums without compromising on coverage. Here are some valuable tips for reducing your caravan insurance costs.

1. Shop Around and Compare

The first step in lowering your caravan insurance premium is to shop around. With a variety of insurance providers in the market, premiums and coverage can vary significantly. Utilise online comparison tools (specific to Australia) to get quotes from different insurers. 

Pay close attention not just to the price, but also to the coverage details, to ensure you're not sacrificing necessary protection for a lower premium.

2. Increase Your Excess

Opting for a higher excess can lead to a lower premium. The excess is the amount you're willing to pay out of pocket in the event of a claim. 

By agreeing to a higher excess, you're reducing the financial risk for the insurer, which can result in lower costs for you. Be sure to choose an excess that is affordable for you in case you need to make a claim.

3. Secure Your Caravan

Insurers often provide discounts for caravans that are considered less of a risk. This includes those equipped with security features such as alarms, immobilizers, and tracking devices. 

Parking your caravan in a secure location, such as a locked garage or a caravan park with surveillance, can also contribute to lowering your premium.

4. Limit Your Cover to What You Need

Tailor your insurance coverage to suit your specific needs. If you're using your caravan occasionally rather than full-time, you might not need the most comprehensive cover. Similarly, assess the value of your caravan accurately. 

Overvaluing it can lead to higher premiums, while undervaluing can leave you underinsured. Be realistic about the replacement costs and choose a policy that reflects your caravan's true value.

5. Build a No-Claim Bonus

Insurers reward safe drivers and responsible caravan owners with no-claim bonuses, which can significantly reduce your premiums over time. By avoiding making small claims for minor repairs that you could cover yourself, you can maintain your no-claim status and benefit from lower premiums in the long run.

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6. Pay Annually

Many insurance companies offer a discount for policies paid annually rather than monthly. This is because it reduces the administrative costs associated with monthly payments. If you can afford to pay your premium in one lump sum, it's worth considering this option for the savings it can offer.

7. Join a Caravan Club

Membership in a caravan club or association often comes with a range of benefits, including discounts on insurance premiums. These clubs can negotiate deals with insurers for their members, resulting in lower costs for you. Additionally, being part of a community provides access to a wealth of knowledge and tips on caravan ownership and maintenance (like visiting us for your caravan insurance repairs).

8. Review Your Policy Annually

Circumstances change, and so do insurance policies. Make it a habit to review your caravan insurance policy annually. This is not only to ensure that it still meets your needs but also to check if there are any new discounts or changes in your situation that could lower your premium.


While caravan insurance is a necessary expense for any caravan owner in Australia, it doesn't have to break the bank. By following these tips, you can enjoy the peace of mind that comes with having your caravan insured, without feeling like you're overpaying for it. Remember, the goal is to find a balance between adequate coverage and an affordable premium. And if you do find yourself in need of caravan insurance repairs, be sure to use a business like ours that is approved by insurers. 

Happy caravanning!

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