Who is LV=?
LV= was formerly known as Liverpool Victoria and has been established for over 170 years. LV= 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 they became the LV= General insurance Group (LVGIG) and announced a strategic partnership with Allianz Holdings PLC who are now the sole shareholder. In 2020 LV= acquired Legal & General's general insurance business adding a further 2 million clients to its existing customer base.
LV= car insurance policies
Below we break down each of the types of car insurance policy that LV= offers.
LV= Comprehensive car insurance policy
This policy covers the following:
- Accidental damage to your vehicle
- Uninsured driver promise - If the other driver is not insured and the accident’s not your fault, you keep your no claim discount and there's no excess to pay - as long as you have the details of the other vehicle and driver
- European cover - get the same level of cover as you have in the UK in the EU for up to 180 days a year
- If your car is vandalised and you have to claim, you'll keep your no claim discount – you'll just need to pay your excess
- Replacement child car seats if your car has been in an accident – even if there is no apparent damage
- New locks and keys if your keys are lost or stolen
LV= Third party, fire and theft car insurance
Third party fire and theft insurance covers you for damage to other vehicles and people, plus it covers your own vehicle if it gets damaged in a fire or gets stolen. This is the most basic form of car insurance that is legally required for you to take your vehicle on the road.
LV= Multi-car insurance
You can insure up to 6 vehicles registered at the same address and up to 12 drivers. You can set future start dates for the extra cars making it easy to add and remove cars as and when you need to. Each no claim discount holder has their own no claim discount. The total discount you receive will vary based on individual circumstances.
LV= car insurance extra benefits
Below we explain each of the extra benefits available when purchasing LV= car insurance.
LV= Motor legal expenses cover
If your car involved in an accident you may have to take legal action against the driver for uninsured losses such as personal injury compensation, loss of earnings or other uninsured losses. This cover costs an extra £25.99 per year and is well worth the additional expense to know you are fully covered
LV= Guaranteed car hire
This cover provides the use of a hire car vehicle if your own car is being repaired by an LV= recommended repairer, been stolen or written off. For an extra premium of £19.90 per year you are guaranteed a small hatchback car and for an extra £29.90 per year you are guaranteed a similar sized car to your own.
LV= Personal accident cover (£100,000)
With the LV= comprehensive insurance policy you have up to £10,000 of personal accident cover included for you, your partner or a named driver on the policy if you or they suffer a serious injury while travelling in, or getting into or out of your car. For an extra premium of £19.90 per year you can increase the cover to £100,000.
LV= 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 cover with LV= Brittania Rescue. There are five levels of cover to choose from including Roadside, UK and European Assist.
LV= Protected no claims discount (NCD)
No claims discount (NCD) will build up for every year you don't claim on your car insurance. The more claim-free years, the bigger the NCD when you renew your policy. If you have earned four or more years NCD, add this optional extra to protect your NCD for the life of your LV= policy. The cost of protected NCD is calculated on each policy and will vary depending based on the original premium.
If a claim is made against your policy and LV= have to make a payment then your NCD will be reduced at the next renewal date as follows:
| NCD (years) at the start of the current year | NCD at renewal with 1 claim | NCD at renewal with 2 claims | NCD at renewal with 3 claims |
| 0 | 0 | 0 | 0 |
| 1 | 0 | 0 | 0 |
| 2 | 0 | 0 | 0 |
| 3 | 1 | 0 | 0 |
| 4 | 2 | 0 | 0 |
| 5 to 8 | 3 | 1 | 0 |
| 9 or more | 4 | 2 | 0 |
LV= policy summary
The following table shows a summary of the features of the LV= comprehensive policy.
| Feature | Details |
| New car replacement | If less than one year old and the cost of repairs is more than 50% of the list price then your car will be replaced by a new one of the same make, model and specification |
| In-car equipment | Unlimited replacement cover for manufacturer fitted equipment or up to £1,000 for non-manufacturer fitted, or portable equipment |
| Replacement locks & keys |
If your keys are lost or stolen they will be replaced provided they were not left in the immediate proximity of the car and any damaged locks will be replaced |
| Child car seats | Replacement child car seats after an accident, fire or theft even if they do not appear damaged |
| Onward Journey |
If your car cannot be driven after a claim and you are more than 25 miles from where you started, LV= will repay up to £500 for any accommodation costs or alternative transport you arrange to carry on your journey |
| Windscreen cover (option) |
Cover for damage to the windscreen or window glass including sunroofs. The premium may increase following a claim, but as long as there is no other loss or damage – the no claim discount won’t be affected. |
| Guaranteed car hire (option) |
Cover provides the use of a hire car vehicle if your own car is being repaired by an LV= recommended repairer, been stolen or written off. For an extra premium of £19.90 per year you are guaranteed a small hatchback car and for an extra £29.90 per year you are guaranteed a similar sized car to your own. |
| Personal accident benefit (option) |
Up to £10,000 of personal accident cover for you, your partner or a named driver on the policy if you or they suffer a serious injury while travelling in, or getting into or out of your car. For an extra premium of £19.90 per year you can increase the cover to £100,000. |
| Medical benefits |
Up to £250 for you or your passengers for any medical expenses resulting from an accident while travelling in your car |
| Personal belongings |
Up to £300 for personal belongings in a car or up to £1,000 in a motorhome, if lost or damaged due to accident, fire, theft or attempted theft. |
| Protected NCD (option) |
For an extra premium, you can protect your no claim discount and this will not reduce due to the number of accidents/claims made. If chosen, this will be shown on your personal details |
How do LV= extra benefits compare with other insurers?
| LV= | Direct Line | NFU Mutual | Aviva | |
| Guaranteed car hire | £9.90 for small hatchback, £29.90 for similar car to own | Yes | Limited to 1 litre hatchback | Yes |
| Transport after accident | No | Yes | Yes | Yes |
| No claim discount protection | Yes | Yes | No | Yes |
| Breakdown cover | From £26 p.a. | From £25 p.a. | From £19.99 | Individual cost calculation |
| Motor legal protection | £25.99 p.a. | £28 | Free | £29 p.a. |
| Multi-car discount | Yes | Yes | No | Yes |
| Black Box available | No | Yes | No | No |
| Admin fee for policy amendments | £15 | No | No | No |
| Available on comparison sites | Yes | No | No | No |
How much does LV= car insurance cost
As with all motor insurance policies the premium paid will depend on a number of factors such as the driver's age and driving record together with the make model and age of the car to be insured.
| Make/Model | Age 35 | Age45 |
| VW Golf | £806.13 | £592.17 |
| Ford Focus | £722.24 | £532.37 |
| Vauxhall Insignia | £1070.17 | £690.30 |
| Mercedes A Class | £1034.05 | £754.60 |
Each quote was calculated using the following details:
- comprehensive cover
- voluntary excess of £300 plus compulsory excess of £100
- no accidents in the last 3 years
- no motoring offences in the past 5 years
- premium paid annually
- year of car manufacture 2018
How to make a claim on an LV= car insurance policy
If you are within the UK, Call 0800 032 3011
Alternatively, if you are outside of the UK, call +44 1202 880 354
The following will be required to register your claim:
- Your policy number and documents
- Your vehicle registration number
- Details of what happened and when
- Details of any other vehicles, people or property involved
- Contact details for any witnesses
- Crime reference number if applicable
For windscreen claims: Call 0800 169 9499
LV= customer reviews
LV= is rated as 'Excellent on Trustpilot with an average score of 4.8 from almost 40,000 customer reviews. A 2020 Which? survey awarded LV= car insurance 81%, which meant that it ranked top out of 39 car insurance providers.
Summary
LV= is one of the biggest car insurers in the UK and they offer a range of additional extras, however, there is a charge for their guaranteed car hire which is free with some other providers. LV= appears on most comparison websites, including MoneySuperMarket* and is highly rated both by Which? and Trustpilot reviews.
Further reading
Direct Line car insurance review
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