The Financial Blog

LV= announced today that it will not charge customers a fee for most general insurance policy amendments.

This is something that has recently been reported in the press; that most insurers will charge their customers an administrational fee for making amendments to their policy details.

Things like changing your address, amending the level of cover you require or even if you canel your policy some insurers will charge you an admin fee. LV=  now say that policyholders will not have to pay admin charges if they amend cover levels, change address, or cancel due to reasons outside of their control*

Managing Director at LV= general insurance, John O’Roarke, said: “We believe in offering good quality insurance policies, at competitive prices, with no hidden costs.  We know that customers often have to make minor amends to their policy for reasons out of their control and we don’t think it’s fair to charge them admin fees for this.”

“At LV=, we operate a culture where treating customers fairly is central.  This is a clear example of how we go further than most general insurers to provide a more transparent service”.

* Fees will only be charged for customers who wish to cancel their policy for reasons within their control, when there is a change of vehicle or driver and a request for duplicate documents

LV= offers car insurance, home insurance, travel insurance and pet insurance direct to consumers by telephone from UK call centres in Bournemouth and Croydon and online from the website: www.lv.com

>>Click here to compare LV= with other insurance companies

This entry was posted on Wednesday, May 14th, 2008 at 1:42 pm and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.