By: 3 July 2023
LV= General Insurance launches new optional extras campaign

LV= General Insurance (GI) has launched a new campaign aimed at independent financial advisers (IFAs) to emphasise the advantages of home insurance optional extras to ensure that their customers are protected against accidental damage and thefts. 

The third largest home insurer in the UK launched the campaign, called A Little Extra Cover Goes a Long Way, in response to new data showing that claims for accidental damage, bike thefts, and thefts away from the home all increased in 2022. 

The campaign emphasises the advantages of home insurance optional extras to ensure that customers are protecting the things that are significant to them. 

According to LV= GI’s analysis of recent claims data, 68% of bicycle claims in 2021 occurred away from home. Furthermore, thefts outside the home increased 54%, and 26% of new claims were for accidental damage.    

In 2022, the average claim cost for accidental damage was £1,300, with theft away from home costing £1,400 and bicycle claims costing £1,350. 

With coverage for items away from home, protection for bicycles and accessories away from home, and accidental damage as optional extras, the campaign assists IFAs in understanding what their clients are covered for and where they may require additional insurance. 

IFAs can customise a homeowner’s insurance policy to meet the unique needs of their clients, which will help give them peace of mind in the event of unanticipated occurrences such as water damage, spills, lost items, and theft. 

Sarah Watts, head of intermediary at LV= GI, commented: “We’re committed to helping advisors provide insurance advice to their clients so that they have the best protection, but we understand that most of their time is taken up advising on mortgages. 

“By providing the information to advisors on the simplicity and value of tailoring a home insurance policy, we hope this will help ensure their clients have the right insurance. Plus, our innovative SmartQuote technology makes obtaining a home insurance quote an easy and efficient process.” 

Image: © Aleksandr Kichigin via Canva
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