02/01/2005
Navigating the world of car insurance can often feel like a daunting task, with a plethora of providers and policies vying for your attention. Among the prominent names in the UK insurance market is LV General Insurance, a brand that has established a significant presence. This article delves into what LV car insurance offers, how it performs in customer surveys, and provides insights into its ownership and claims process, aiming to equip you with the knowledge to make an informed decision.
Who Owns LV Car Insurance?
Understanding the ownership of an insurance provider can offer valuable insight into its stability and operational ethos. LV General Insurance is a significant player in the UK insurance landscape, and it's important to know its corporate structure. LV=GIG, or Liverpool Victoria General Insurance Group Limited, is wholly owned by Allianz Holdings plc. This affiliation places LV under the umbrella of a major global financial services group, which can be reassuring for consumers seeking robust and reliable coverage.
What Does LV Car Insurance Offer?
LV offers a comprehensive insurance policy primarily through its own website, which has been meticulously reviewed. Beyond this, slightly varied versions, known as LV Extra and LV Plus, are accessible via comparison websites. This tiered approach allows customers to select a policy that best suits their individual needs and budget.
Policy Variations Explained: LV, LV Extra, and LV Plus
The standard LV policy is designed to be comprehensive, covering a wide range of eventualities. When you venture onto comparison websites, you'll encounter the LV Extra and LV Plus options. LV Extra typically includes motor legal protection as standard, which might be an optional add-on for the standard policy. LV Plus goes a step further by guaranteeing a hire car for use while your own vehicle is undergoing repairs. This distinction is crucial for drivers who rely heavily on their vehicles for daily commuting or other essential activities. It's always advisable to scrutinise the specific inclusions and exclusions of each policy tier before committing.
Key Cover Areas and Ratings
To gauge the quality of LV's offerings, it's useful to examine how its policies perform in key areas. Based on recent analyses, LV's standard policy has demonstrated strong performance:
| Cover Area | Rating | Notes |
|---|---|---|
| Fire Excess | ★★★☆☆ | £100 |
| Theft Excess | ★★★☆☆ | £100 |
| Accidental Damage Excess | ★★★☆☆ | £100 |
| Windscreen Replacement Excess | ★★☆☆☆ | £95 |
| NCD Affected if Car Hit While Parked | ★★★☆☆ | Yes, but can be reinstated |
| Windscreen Damage Limit | ★★★★☆ | Market Value |
| Window Damage Limit | ★★★★☆ | Market Value |
Please note: Tables are typically updated annually. Always check the latest policy details before purchasing.
What Makes LV Stand Out?
LV's policy has garnered praise for several notable features. For instance, it offers assistance if an accident leaves you stranded, providing transport to your destination or covering overnight accommodation. Furthermore, their no-claims discount protection is particularly generous, with no limit on the number of claims that can be shielded in a year, unlike some competitors that cap this protection. However, it's worth noting that a courtesy car is not a standard inclusion and requires an additional payment. This is an area where some other insurers might offer better value as standard.
Customer Satisfaction and Claims Handling
Customer feedback is a vital barometer for any service provider. In recent surveys, LV has performed commendably:
- Customer Score: LV achieved a 71% customer score, placing it second out of 19 insurers surveyed. This indicates a high level of satisfaction among its customer base.
- Claims Score: In terms of claims handling, LV received a score of 76%, also securing second place among 19 evaluated companies. This suggests efficiency and customer satisfaction during the claims process.
Detailed Customer Ratings
Digging deeper into customer experiences, LV has received positive feedback across various service touchpoints:
| Service Area | Rating |
|---|---|
| Application Process | ★★★★☆ |
| Clarity of Policy | ★★★★☆ |
| Dealing with Queries | ★★★★☆ |
| Ease of Managing Policy Online | ★★★★☆ |
| Fair Treatment of Longstanding Customers | ★★★☆☆ |
| Dealing with Complaints | ★★★☆☆ |
| Value for Money | ★★★☆☆ |
Note: Customer sample sizes are important for context. Always refer to the latest survey data for the most up-to-date information.
How to Save Money on LV Car Insurance
Several avenues exist for potential savings on your LV car insurance policy:
- Online Discount: Purchasing your policy online, as opposed to over the phone, often unlocks a discount.
- Multi-Car Policies: If you insure more than one vehicle with LV, you may be eligible for a discount.
- Existing LV Policies: Holding a home insurance policy with LV could also qualify you for a discount on your car insurance.
- Price Comparison Websites: LV policies are available through major comparison sites such as Compare the Market, Confused.com, GoCompare, and MoneySuperMarket. Shopping around can help you find the most competitive rates.
LV vs. Other Providers
LV consistently ranks highly when compared to its competitors. Its strong performance in customer satisfaction (71%), policy scoring (77%), and claims handling (76%) places it among the top insurers. Being a Which? Recommended Provider and a Which? Best Buy signifies a strong commitment to quality and customer service. It sits comfortably alongside other trusted names like NFU Mutual and Aviva, offering a reliable and reputable choice for car insurance.
Making a Claim with LV
Should you need to make a claim, LV provides clear contact channels:
- General Claims: Call 0330 678 5550.
- Windscreen or Glass Damage Claims: Call 0330 678 5590. Importantly, claims for windscreen and glass damage typically do not affect your no-claims discount.
Frequently Asked Questions (FAQs)
Who owns LV insurance?
Liverpool Victoria General Insurance Group Limited (LV=GIG) is 100% owned by Allianz Holdings plc.
What is the phone number for LV car insurance?
For existing policyholders wishing to make changes, the contact number is 0330 678 5111.
Does LV offer the best car insurance?
LV is consistently rated as one of the top insurers in the UK, earning 'Recommended Provider' and 'Best Buy' status from reputable review bodies. While it may not be the absolute cheapest for everyone, its combination of comprehensive cover, strong customer service, and reliable claims handling makes it a leading contender for many drivers.
What age can you be to get LV car insurance?
LV insures drivers aged between 17 and 110 years old, offering a wide age range of coverage.
Is LV car insurance good?
Based on customer scores, policy ratings, and industry recognition, LV car insurance is considered very good. It excels in policy consistency, customer satisfaction, and claims handling, making it a trustworthy option.
In conclusion, LV car insurance presents a compelling proposition for UK drivers. Its comprehensive policies, backed by the stability of Allianz, coupled with strong customer and claims satisfaction ratings, position it as a highly reputable insurer. While the absence of a standard courtesy car might be a drawback for some, the overall quality of cover and service makes LV a strong contender in the competitive car insurance market.
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