Why has my motorhome insurance renewal price gone up?

There is rarely one explanation that applies to every policyholder. The renewal invitation and policy documents should show the new price and any changes to the cover, but they may not explain every part of the calculation. Common reasons your motorhome insurance renewal may have increased could include the following.

Motorhome repairs may cost more

Motorhomes combine vehicle components with living equipment such as leisure batteries, windows, body panels, furniture, heating systems and appliances. Damage can therefore involve specialist parts and labour, rather than a straightforward vehicle repair.

The value of the motorhome may have changed

The value declared for the motorhome helps an insurer understand the amount that could be payable following an insured total loss or theft, subject to the policy terms and settlement basis. Upgrades such as an awning, solar panels, a leisure battery system or new onboard equipment may also alter the information the insurer needs. An inaccurate value could leave the policy details out of date, so the figure should be verified rather than reduced solely to obtain a lower premium.

Claims costs can affect prices more widely

A premium is not based only on one customer’s claims history. Insurers also consider the claims they expect across similar risks. Changes in the frequency or cost of theft, accidental damage, weather-related losses and third-party claims can influence pricing across a wider group of motorhome owners. The number of claims and the cost of each claim can both influence insurance pricing.

According to the Ripe Motorhome Insurance Claims Index, windscreen damage accounted for half of recorded claims, while theft had the highest average claim cost. Frequent windscreen claims and less frequent but costly theft claims can both add to the overall cost of providing cover, which may influence renewal premiums.

Your circumstances or policy details have changed

Small changes can affect how an insurer assesses risk. These may include a new address, different overnight storage, increased annual mileage, travel to different countries, an additional driver, a change in occupation, motoring convictions or alterations to the motorhome. The impact varies between insurers and policies.

The cover or excess is different

Compare the renewal with the expiring policy on a like-for-like basis. The price may reflect a change to the level of cover, optional extras, declared accessories, excesses or payment method. A cheaper quotation may not offer the same protection, limits or exclusions, so the premium alone does not show the full difference.

The insurer has updated its pricing

Insurers regularly review how they price different risks. This can mean the same motorhome and owner receive a different premium at renewal, even without a claim or a major change in circumstances. Each insurer uses its own rating approach, claims experience and appetite for particular types of risk.

How external events can affect motorhome insurance prices

Events elsewhere in the UK and around the world can feed into insurance costs, even when they have no direct connection to an individual motorhome owner. Motorhomes use both vehicle parts and specialist habitation components, so disruption can affect several parts of a repair at once.

Inflation and higher business costs

Inflation can increase the cost of replacement parts, paint, tyres, glass, energy, vehicle recovery and skilled labour. Insurers may take those expected costs into account because a similar accident can become more expensive to repair than it was when the previous premium was calculated.

Global supply chains and exchange rates

Motorhome parts may be manufactured or sourced overseas. Factory disruption, shipping delays, shortages and changes in the value of sterling can make imported components more expensive or slower to obtain. A longer repair can also increase related costs, such as vehicle storage or replacement transport, where these apply under a claim.

Severe weather and large claims events

Storms, flooding, wildfires and other large events can lead to many claims within a short period. Insurers price for expected future claims rather than charging only for losses already experienced by one customer. However, the effect of any weather event will vary by insurer, location and type of cover.

Does a higher renewal price mean something is wrong?

Not necessarily. An increase does not automatically mean the motorhome has become unsafe or that the owner has done anything wrong. It may reflect broader changes in expected claims costs or the insurer’s pricing. However, an unexpected increase is a good reason to check that every detail used for the quotation is correct.

What to check before renewing motorhome insurance

The renewal should be reviewed carefully before accepting it. Useful checks include:

• The motorhome’s make, model, age and current value

• The address and location where it is normally kept overnight

• Estimated annual mileage and how the motorhome will be used

• All named drivers, driving history and any relevant convictions or claims

• Security devices, trackers and immobilisers fitted to the motorhome

• Modifications, accessories and personal belongings that need to be declared

• The policy excess, cover limits, exclusions and optional extras

• The cost of paying annually compared with monthly instalments

Information must be accurate and complete. A change that appears minor could be relevant to the insurer and may affect cover if it is not disclosed.

Can I reduce my motorhome insurance renewal price?

There may be ways to change the cost, although no adjustment guarantees a lower premium and any option must still suit the cover required.

Review the mileage

If the motorhome will be used less during the coming year, provide a realistic mileage estimate. It should not be set artificially low, as exceeding an agreed limit or supplying inaccurate information could cause problems under the policy terms.

Check how and where it is stored

Secure storage, winterising, and suitable security measures may be relevant to the quotation, particularly for theft risk. Confirm that the storage address and security devices are described accurately. Any insurer requirements should also be followed whenever the motorhome is left unattended.

Consider the excess carefully

Choosing a higher voluntary excess may reduce the premium with some insurers, but it increases the amount payable if a claim is made. Check the voluntary and compulsory excesses together and make sure the total would be affordable.

Remove cover that is no longer needed

Optional extras should be reviewed at renewal, but useful cover should not be removed purely to reduce the headline price. Compare what would and would not be covered after any change.

Compare the full policy

Another policy may be cheaper, but the cover limits, exclusions, excesses and conditions may differ. Compare the overall policy on the same details rather than looking only at the annual premium.

Do I need to tell my insurer about motorhome changes?

Yes, relevant changes should be disclosed in line with the insurer’s requirements. This can include changes to the motorhome, its use, drivers, address, storage or security. Contact your insurer if it is unclear if something needs to be declared. Keeping the policy information accurate helps the insurer assess the risk correctly and may prevent difficulties if a claim is made.

Specialist motorhome and campervan insurance by Ripe

Renewal time can be a useful opportunity to check that the cover still suits your motorhome or campervan and how you use it. Find out more about specialist motorhome and campervan insurance by Ripe and get an online quote today.