Why are LV's new insurance deals substantially less than my LV renewal premium?
In your column of Sat 26 May you asked how much longer Liverpool Victoria would remain so cheap and friendly. The answer is, not long. After being a customer for many years, last year they quoted me £688 for my Mondeo. I went onto a price comparison site that came up with a quote of £382 from, guess who? Why LV of course.
LV’s excuse was that this was a new policy and they were not obliged to inform me or offer the lower figure, but they did, subsequently, offer me the revised policy. This year they have quoted £400 but the best price I can get from a comparison site is £198. Wonderful pricing and service. The message is clear; check for the best deal every year and do not assume your current insurer will do its best to give you a good deal.
LV’s excuse was that this was a new policy and they were not obliged to inform me or offer the lower figure, but they did, subsequently, offer me the revised policy. This year they have quoted £400 but the best price I can get from a comparison site is £198. Wonderful pricing and service. The message is clear; check for the best deal every year and do not assume your current insurer will do its best to give you a good deal.
Asked on 7 April 2012 by JP, Huntingdon
Answered by
Honest John
Speaks for itself. But you need to check very carefully indeed that the £198 policy is on the same basis and gives you the same cover as the £400 policy. So far, other readers remain happier with LV than with any other motor insurer. LV is a Mutual rather than owned by Private Equity Fund investors. But then, so was Equitable Life.
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