For the second year in succession LV have increased my home insurance premium by huge amounts. In the last two years it has increased by 200% when my circumstances have not changed and no claims have been made. In fact I have not made a claim since January 2010.
When I telephoned to ask the reason for the increase this year which was even larger than in 2022 I was told by the agent that there was no point in making a complaint as it would be disregarded out of hand and actually thrown in the bin. She suggested I should look elsewhere as she said she would in my position. Nevertheless I decided to raise the question with the CEO and eventually received the reply predicted and which I had expected full of assertions about market conditions and short on actual facts as they apply to my circumstances. I have now got rates at a third of the 2023 quote on better terms than I had with LV from other highly reputable companies working in the same market and in the same conditions as them. Frankly the claims on the LV website that “Great customer service is just the beginning” is indeed laughable and utter nonsense.
As to another assertion that "10% of customers paid less that £109 from July to September" that too is completely meaningless since it doesn't say anything about sums insured or if it is for building or contents or combined and of course it has no real life context because LV dare not provide one. It really is utterly disingenuous.
My advice is don't trust this company to do the right thing by their customers and look elsewhere for value for money which LV certainly does not provide.
Gerald Hayes
Reviewed on: 5th March 2023
