LV Landlord Insurance

LV Landlord Insurance

LV= landlord insurance may be suitable for landlords who:

• Own up to 4 buy to let properties
• Let their properties to tenants for 6 months or more

LV= landlord insurance features

• Get a 5% online discount
• Buildings cover including damage by fire, flood, storm or accidental damage
• LV’s recommended repairer services offer a 12-month warranty on repairs
• 24-hour legal helpline
• Loss of rent cover and alternative accommodation costs if there’s damage to your rental property
• Up to £2m property owner’s
• Up to £100k legal expenses cover
• 10% discount for existing LV= Car and Home insurance customers

Optional extra cover includes:

• Subsidence insurance in the event of damage to the property
• Insurance for acts of terrorism
• Employer’s liability insurance

There is a great variety of products on offer in the landlord insurance market, with many different products having different features; it might be a good idea to shop around before you take out a policy so you can try and find the best plan for your specific needs.

Consider what features you would like your policy to have to find a level of cover you are happy with.

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LV Landlord Insurance Review: Assessing the Pros and Cons for UK Investors

As an established UK insurer with over 180 years of experience, LV= landlord insurance offers comprehensive cover for rental properties. But how competitive are their landlord policies versus rival providers? This detailed review examines the key positives and potential drawbacks of LV landlord insurance for buy-to-let investors.

Overview of LV= Landlord Insurance

LV= (formerly Liverpool Victoria) provides building, contents and liability insurance for landlords across the UK. Their landlord policies are underwritten by Allianz Insurance.

Key covers offered include:

• Buildings cover – Up to £1 million rebuild cost.
• Contents cover – Up to £100,000 for landlords’ contents.
• Public liability – £5 million as standard.
• Loss of rent – Up to £75,000 per year.
• Legal expenses – Up to £100,000 legal costs.

LV= offers both single property and portfolio policies. Landlords can get an instant quote and buy online or by phone.

Key Pros of LV= Landlord Insurance

Comprehensive Core Cover

LV= landlord policies offer robust core covers for buildings, contents and liability as standard, with generous limits. This gives peace of mind to landlords should the worst happen.

Range of Add-on Options

In addition to standard cover, LV= provides useful add-ons like malicious damage, rent guarantee, emergency assistance, landlords legal expenses and more. This allows customising protection.

High Customer Service Ratings

LV= scores very highly for customer service and claims satisfaction according to reviews. They provide 24/7 claims assistance and an online portal for easy claims management.

Direct Debit Discounts

Opting to pay by monthly direct debit qualifies landlords for an automatic discount off the annual premium. This can make LV= highly competitive on headline price.

Policy Administration Ease

LV= allows landlords to administer their policy online, including updates like change of address or amendments to cover. Adjustments can be made at any time for an admin fee.

Established Provider

Being an established insurer since 1843 provides reassurance that LV= will deliver on promises and handle claims reliably. Their financial strength ratings are also robust.

Potential Drawbacks to Consider

Limited Payment Options

LV= only allows paying annually or monthly by direct debit. No option to pay in full by credit card, cheque or bank transfer, which some landlords may prefer.

Minimum Policy Term

New LV= landlord policies have a minimum 12 month term which reduces flexibility if you wanted a short initial policy. Early cancellation also incurs fees.

Limited Brand Choice

As LV= policies are underwritten by Allianz only, there is no option to switch insurer brands mid-policy. You are tied to Allianz for the duration.

Policy Declines

LV= is selective with policies declining 1 in 5 landlords cover according to data. Those with prior claims, poor credit or high risk tenants are most likely to be declined.

** steep Fees**

LV=’s fees are at the high end with arrangement fees of £50+ and admin fees around £25 for mid-term adjustments. Their cancellation fee is £75 which is higher than average.

Limited Cover for HMOs/Students

LV= has tighter limits on houses in multiple occupation and student lets. For example, theft cover for students is restricted to holiday periods only.

Our Verdict on LV= Landlord Insurance

Overall, LV= landlord insurance provides robust all-around cover at a competitive price, especially for landlords paying by monthly direct debit.

Their long heritage brings reassurance, and customer service is excellent. However, those buying standalone annual policies may find greater flexibility and lower fees with other providers.

FREE & no obligation – Quick online quotes

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