CIL, the first specialised caravan insurer in Australia and pioneer of flood and storm cover for RVs, has celebrated its 60th birthday this year. The following story comes from Suncorp.
While the milestone might seem lengthy to some, CIL employees remember the origins of the brand well, and reflect fondly on the significant changes they’ve seen to the vehicles over their six decades.
Things have significantly changed in caravanning since the early 1960s. But one thing that has endured is that CIL is the insurer of choice for recreational vehicles, currently insuring around one in five caravans in the nation.
The brand has an unconventional origin story, starting in 1962 on the back of an insult at the local pub. The tale goes that Gordon Smillie, CIL’s founder, was sitting down when another patron engaged him in conversation and asked what he did for a living. When Gordon said he was in insurance, the man – a local caravan dealer – passionately told him how ridiculous he thought it was that no one insured caravans. Gordon had to agree, and that’s how CIL Insurance, then called C.I.L Brokerage Pty Ltd, was born.
Back when CIL Insurance started out, caravanning was generally a low-cost vacation option for young families, with caravanning peaking in popularity in the 1970s. Today, 60% of caravan owners are older couples getting out and enjoying their financial freedom or empty nests, renowned as ‘grey nomads’.
In the early days, caravans didn’t feature the technology that many RVs have today, like solar power and satellite TV. In fact – they didn’t have bathrooms either. Today, top of the line caravans have all these mod-cons, including a flushing toilet.
CIL Portfolio Manager, Damien Bray, reflected on how caravans have changed over the years and how it has impacted insurance.
“Top-of-the-line caravans can have reversing cameras, digital electronics, and other high-tech conveniences. This has meant security is more of an issue, with many customers investing in hideaway safes and ensuring their insurance policy includes extra cover for these items,” Damien said.
It stands to reason that these features may have contributed to the increase in the average value of a standard caravan over time; a 22-foot caravan in the 60s could have sold for $3,000, but in 2022, the RVs can cost in excess of $100,000. However, Damien explains, caravans tend to retain their value, and a family of four or more can get a lot of holiday mileage per dollar invested in an RV compared to the cost of airfare and accommodation.
Another significant change in caravan design is that most now come standard with a rollout awning, which was phased in during the early 80s.
“Since then, we’ve seen a surge in awning claims, as they often get left up and damaged during weather events, which we’ve had a number of across Australia in the past few years.”