Defaqto gives all LV= car insurance products the maximum five stars.
Note: Not all five star products contain the same policy levels, covers and features.
LV+ gets 4.7 out of five from Trustpilot based on 25,397 reviews, with 79% saying it is excellent.
LV=, was set up as a mutual society in 1843 offering the people of Liverpool insurance penny policies which it sold door to door. It traded as Liverpool Victoria until May 2007 when it rebranded as LV=
LV= now has over 5.5 million customers and 3,500 employees.
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LV= offers general insurance products including pet insurance, home insurance and travel insurance.
LV=’s life arm offers pensions, life insurance, investment and protection products
It also owns a number of other financial brands: Britannia Rescue, Highway Insurance, and Frizzell.
In 2017 LV= announced a partnership with Allianz Holdings, the deal meant LV= was no longer a friendly society and instead became a company registered with Companies House
In early 2020 LV= bought Legal & General’s home general insurance business
The Financial Ombudsman Service received 134 complaints about LV= motor insurance in the first half of 2020. That gave it less than 3% of the complaints but the company had nearly 10% of the market share by gross written premium, so it has a much lower level of complaints than might be expected for its size. To put that in context, 67 firms had 10 or more complaints each and those totalled 4,550 complaints. Nearly 200 firms had fewer than 10 each, sharing just 479 complaints between them.