LV= car insurance review

8 min Read Published: 01 Jun 2023

LV= car insurance review

Car insurance is compulsory if you are driving a vehicle on UK roads but finding the best and cheapest policy can be an arduous task. We compare some of the best car insurance in the UK in our article or alternatively, you can use a comparison site. We have partnered with Quotezone* so that you can search and compare quotes from over 110 UK car insurance providers to find the best deal.

In this article, we look at LV= car insurance in detail, including what it covers, how much it costs, how to make a claim and how it compares to other car insurance providers. We recommend reading the review in full, however, you can jump to specific sections using the following links.

What is LV=?

LV=, formerly known as Liverpool Victoria, has been established for over 170 years and offers a range of general insurance products including car insurance, home insurance, pet insurance and travel insurance direct to the public as well as through advisers and brokers.

In 2017 it became the LV= General Insurance Group (LVGIG) and announced a strategic partnership with Allianz Holdings PLC which is now the sole shareholder. LV= has 2 million car insurance customers and its car insurance is underwritten by Liverpool Victoria Insurance Company Limited.

LV= car insurance key features

  • Choose between fully comprehensive and third party, fire & theft car insurance
  • Get cover if you are hit by an uninsured driver
  • 5% discount for buying a policy online
  • Lifetime guarantee on repairs as long as you own the vehicle when using LV= recommended repairer
  • Accidental damage cover if you have a comprehensive policy
  • Cater your car insurance policy with optional extras including breakdown cover, protected no-claims discount and legal cover
  • 3, 4 and 5 star defaqto rated policies (varies depending on the policy you choose and if bought from a broker)

What does LV= car insurance cover?

When taking out a car insurance policy with LV= you can choose between fully comprehensive or third party, fire & theft car insurance. Fully comprehensive is the most extensive type of cover as it covers both damage to your vehicle as well as a third party. Third party, fire & theft car insurance on the other hand only covers damage or injury claims to another third party. Your vehicle will however be covered for damage caused by fire or theft.

With LV= you can also choose between a number of different car insurance policy types including multi-car insurance - with cover for up to 6 cars on one policy, learner driver insurance or car insurance specifically for electric vehicles.

For more information on car insurance types and how they work, read our article, 'What are the different types of car insurance?'

LV= car insurance optional extras

It is also possible to cater your car insurance to your individual circumstances. Below we explain each of the extra benefits available when purchasing LV= car insurance.

Motor legal expenses cover

For an additional cost of £25.99 a year, you can purchase motor legal expenses cover which can help to cover the cost of legal expenses for recovering uninsured losses. For more information on legal cover and whether it is worth having, read our article, 'Car insurance legal cover explained - is it worth it?'

Guaranteed hire car

If your vehicle has been stolen or written off or is being repaired by an LV= recommended repairer, purchasing this cover will give you a hire car for the duration of the repair or for a fixed period of time. There are two types of cover to choose from, the first at £19.90 a year guarantees a small 3-door hatchback while for £29.90 a year you can have a medium-sized family vehicle with 5 doors.

Personal accident cover (£100,000)

With the LV= comprehensive car insurance policy you have up to £10,000 of personal accident cover included for you, your partner or a named driver on the policy. However, you can choose to enhance this to £100,000 if you purchase increased personal accident cover for an additional £19.90 per year.

Breakdown cover

Breaking down while you are on a long journey can be a nightmare, for an extra premium starting at £26 per car you can get breakdown cover with LV= Brittania Rescue. There are five levels of cover to choose from and more information on the different levels of cover can be found on the LV= website. It is worth comparing breakdown cover prices beforehand to ensure you are getting the best price for the cover you need.

Protected no-claims discount (NCD)

No-claims discount (NCD) builds up annually if you do not make a claim on your car insurance policy and as the number of claim-free years increases, you are likely to see a discount on your car insurance. LV= offers a maximum of 9 years no-claims discount, which means you won't receive any additional discount even if your no-claims period increases past 9 years. Additionally, if you change insurers after earning more than 9 years of no-claims, LV= can only provide proof for a maximum of 9 years of no-claims discount.

If you have four or more years of NCD you can choose to protect it for an additional cost. How much it costs to protect varies depending on a number of factors including the policy type and how many years you are choosing to protect. Protecting your no-claims discount means that making a claim on your car insurance policy will not affect the number of no-claims years you have with LV=, no matter how many claims you make.

How much does LV= car insurance cost?

How much you pay for your LV= car insurance policy will vary depending on a number of factors including your age, the car you drive and where you live. Your driving experience and whether you have any convictions or speeding offences can also affect your car insurance premium.

According to the Association of British Insurers (ABI) the average cost of a car insurance policy in the first quarter of 2023 was £478 which is up 2% compared to the previous quarter. For more information on car insurance and what affects the cost of car insurance, read our article, 'How much does car insurance cost?'

Are there any admin fees on LV= car insurance?

If you need to cancel your LV= car insurance policy there are no administration fees if it is within the 14-day cooling off period however a charge of £40 applies for any cancellation after this date. Additionally, you will be charged for the time that you have had insurance with LV=.

If you need to make a change to your policy, e.g. add or remove a driver, there is an administration charge of £15.

What is the excess on an LV= car insurance policy?

There are usually two types of excess on a car insurance policy; compulsory and voluntary excess. The compulsory excess is fixed and set by the insurer while the voluntary excess is chosen by the policyholder and is payable in addition to the compulsory excess. How much excess you pay can vary between policyholders and increasing your voluntary excess can sometimes reduce your insurance premium.

When completing a quote on the LV= website the voluntary excess amounts ranged from £0 - £500 in £50 increments and a compulsory excess example was £150. This, of course, could vary for individual policyholders and is dependent on what you are claiming for.

If you have an existing LV= car insurance policy, and wish to find out how much no-claims discount you have you can refer to your policy documents or call LV= for more information.

How to make a claim on an LV= car insurance policy

If you need to make a claim on your LV= car insurance you can call 0330 678 5550 if you are in the UK or +44 1689 898603 if you are abroad. When calling you will need to provide as much information about the accident as possible and it may be useful to have your policy documents to hand. If you have had your vehicle stolen you will be asked to provide a crime reference number which can be obtained once the theft has been reported to the police.

If you need to make a claim for windscreen damage you can book an appointment online or call 0330 678 5590.

LV= car insurance customer reviews

LV= is rated as 'Excellent' on Trustpilot with an average score of 4.6 from over 60,000 customer reviews. 81% of the reviews have rated LV= as 5 stars while 3% have rated it as 1 star. Those that rate LV= as 5 stars comment on competitive quotes and a clear website. Those that rate it as 1 star cite high renewal prices and claim delays. It is worth noting, however, that not all of the reviews are based on LV= car insurance but include a review of LV= as a whole. As with all insurance policies, it is important to do your research before purchasing a policy.

Pros and cons of LV= car insurance

Pros

  • Choose between fully comprehensive and third party, fire & theft insurance
  • 5% online discount
  • Lifetime guarantee on repairs as long as you own the vehicle when using an LV= recommended repairer
  • Accidental damage cover if you have a comprehensive policy

Cons

  • Courtesy car cover not included as standard
  • Maximum of 9 years no-claims discount

Alternatives to LV= car insurance

In this section of the review, we compare LV= car insurance to two other car insurance providers. Another quick and easy way to compare car insurance is via a comparison site such as Quotezone*. Comparison sites allow you to compare multiple providers at once to find the best deal for your circumstances. We have partnered with Quotezone* so that you can search and compare quotes from over 110 UK car insurance providers.

It is worth noting, however, that not all comparison sites are whole of market which can mean that you could get a better deal elsewhere. Some providers, such as Direct Line, also choose not to feature on comparison sites so it can also be worth getting a quote directly with providers.

In the following comparison table, we compare LV= car insurance to Aviva and Direct Line. Further information on these providers can be found in our reviews:

LV= vs Aviva vs Direct Line

LV= Aviva Direct Line
Policy types
  • Fully comprehensive
  • Third party, fire & theft
  • Fully comprehensive
  • Third party, fire & theft
  • Fully comprehensive
  • Third party, fire & theft
Uninsured driver protection  tick tick tick
Multi-car insurance discount  tick tick tick
Temporary car insurance tick
Optional breakdown cover  tick tick tick
Policy amendments admin fee tick
Defaqto rating  5 stars (some 4 & 3 star policies if bought from a broker) 4 & 5 star policies 5 stars

Summary

LV= is one of the biggest car insurers in the UK and they offer a range of optional extras which can cater your car insurance policy to suit your individual circumstances. If you purchase a car insurance policy online with LV= you can benefit from a 5% discount and any repairs carried out by an LV= recommended garage are guaranteed for as long as you own the vehicle. A courtesy car is not included in your policy as standard, however, and some insurers do include it as standard with comprehensive policies so this is worth considering if this is something you think you may need. As with all car insurance policies, it is best to shop around to find the best provider at the best price and we compare some of the best providers in our article, 'Best car insurance in the UK'.

 

 

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