LV= broker announces launch of new home insurance product
Press Release: 6 September 2010
LV= Broker today announced the launch of a new home insurance product. It will be marketed under the ABC brand and is available exclusively to brokers.
The product is rated on both a sum insured and number of bedrooms basis and is currently available on the SSP and CDL systems.
Phil Bunker, LV= Broker managing director said: "LV= has written home insurance for a long time and is a substantial insurer in this market with in excess of £100m of written premium. It was always in our plans to bring this expertise to the broker market, and I am delighted that we have now been able to do so. We have some big ambitions for this new product."
The product will be managed by Elspeth Hackett, personal lines underwriting manager for the ABC portfolio. Elspeth added: "We are planning to offer cover for the majority of domestic risks. The product has flexible cover options, such as the ability to choose the level of contents cover. This means that brokers can be sure that they are offering their customers only the cover they need, and not asking them to pay for cover that they don't need."
Individual policies for contents and buildings are available along with a discounted combined policy. Product benefits include:
- The flexibility to choose the amount of contents cover - from £15,000 to £150,000.
- £1 million cover for buildings as standard
- Up to £25,000 cover for the cost of alternative accommodation if the property is unliveable in the event of a claim
- Access to free helpline manned by trained professionals offering advice in the event of a home-related emergency. The operators can also arrange emergency assistance and repair works if required.
- Up to £500 cover for loss or damage to hedges, trees, shrubs, plants and lawns
- Solar panels and wind turbines designed to help home owners become energy efficiency covered as standard
Legal expenses, personal possessions, pedal cycles and accidental damage options are available as extras if required.
Notes:
LV=
LV= Broker is part of the LV= group of companies, and incorporates Highway Insurance and ABC Insurance. LV= is a trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.
LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.
LV= employs around 4000 people, serves over 3.8 million customers and members, and manages around £9.3 billion on their behalf. We are also the UK's largest friendly society (Association of Friendly Societies Key Statistics 2008, total net assets) and a leading mutual financial services provider.
LV= and Liverpool Victoria are registered trade marks of Liverpool Victoria Friendly Society Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria Group of companies. Liverpool Victoria Insurance Company Limited, registered in England and Wales number 3232514, is authorised and regulated by the Financial Services Authority, register number 202965.
Registered address for both companies: County Gates, Bournemouth BH1 2NF. Tel: 01202 292333