LV Is Offering Its Customers Refunds On Their Car Insurance

LV is the latest car insurer to announce that it’ll be offering its customers refunds on their car insurance. It follows the example of Admiral, which recently announced a similar policy…

LV Is Offering Refunds 

If your car insurance is with LV, we have some good news. The company is following the example of its rival Admiral in offering customers refunds. It claims it can afford to issue the refunds thanks to significantly fewer claims being made due to the nation’s lockdown measures; which have seen traffic levels drop to figures recorded in the 1950s. LV’s scheme differs from Admiral’s in that refunds will range between £20 and £50. To qualify, customers must meet one of the qualifying criteria…

1) Have not yet received the 80 percent payment scheme from their employer

2) Are self-employed and are unable to work or trade due to the coronavirus, and haven’t received the 80 percent payment

3) They were made unemployed at any point after 1 March 2020

Customers who arranged their LV car insurance via a broker are, unfortunately, not eligible for the refund. Admiral’s policy, announced lat week, was £25 refund for all customers.

The ‘Right Thing To Do’

Steve Treloar, chief executive of LV general insurance, explained the rationale behind the refunds. He said, “right now, there are millions of families across the UK who are facing unforeseen pressures on their finances as a result of coronavirus. So, we believe it’s vital and the right thing to do to concentrate the additional financial support we can offer on those who are really struggling”. He concluded, “we spent a lot of time thinking about the best way to help customers and this enables us to give between £20 and £50, which to some families will make a real difference”.

Not everyone’s impressed though. For James Blackham, CEO of By Miles, LV’s refunds simply don’t go far enough. He said, “while another major insurer, LV, offering refunds to customers is a good thing – what they are offering is actually a step down from Admiral’s support. Admiral gave an automatic £25 refund to all customers, LV is only offering refunds of between £20 – £50, but only to those who can prove they are financially worse off due to coronavirus”. He added, “they’re making policyholders do the leg work – asking drivers to contact them directly to apply for a rebate”.

Admiral Is Giving Drivers £25 Refunds On Their Car Insurance –

Audi To Extend New Car Warranties By Three Months –

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