Insurance specialists LV= have released a new policy for caravan owners in the UK, just in time for the summer holidays.
In stark contrast to other similar products on the market, LV='s policy covers caravan equipment and awnings as standard, suggesting the company is attempting to cater for the wider market with a simplified approach.
Customers will not have to worry about shelling out on add-ons for items such as beds, generators and bottled gas equipment.
Other standard features include covering the cost of a hire caravan should the customers' suddenly become available shortly before a holiday, and the policy remains enacted if it is loaned to family or friends.
Caravans are covered anywhere in the UK and also for up to 60 days in Europe, with a range of optional extras allowing for the customer to extend this outside of the EU should they choose to venture further.
The individual product marks a change in the weather for LV= as it has previously sold caravan insurance as part of its home insurance policy.
Selwyn Fernandes, managing director of LV= Insurance, said that the new development has come about in order to cater for a growing number of Brits choosing to go caravanning in the UK and beyond.
"The market for caravan holidays seems to be increasing every year and we wanted to offer a product to this audience," he explained.
"We are always looking for areas that we can expand our product range into and as we already had the caravan add-on available, the launch of this standalone caravan policy was the next step for us."
Internal LV= data indicates that the average caravan-related insurance claim is around £1,500, meaning that holidaymakers could find themselves seriously out-of-pocket if they fail to take out insurance.
Twitter: My Finances
Join the conversation at #news_myfinances