New for Old Insurance

We had a caravan insured with the club for since 2008 and always had a new for old policy at an much higher premium. Imagine our surprise when we had an accident this year in France that it didn't pay out as we expected. It appears there is an obsolescence clause in the policy, stating that if the parts are not available the insurers will only pay out for the last known value of those repairs leaving us with an unsalable  damaged caravan that can only go to the salvage yard.

I accept that I should have read all the terms and conditions within the policy but who does?

My major complaint is the Club is for its membership and generally the membership feel the club looks after them. Surly the club has a duty of care to sell them the appropriate insurance if the caravan is getting on a bit why sell them a very expensive policy knowing that in all likelihood that clause would be invoked.

I have mentioned this to several of my caravanning friends and they were in ignorance as well and wont be renewing this policy. I would be interest in comments from our club.