information

We use cookies to give you the best possible experience online. By continuing to use our website, you agree to receiving our cookies on your web browser. Visit our cookie policy page to find out more and how to change your cookie settings.

skip to main content

Glossary

Explanations of some of some of our financial terms

Glossary

Use this glossary of common – and not so common – insurance terms to help you understand words and phrases you may not have come across before.

Full A-Z

  • 50 Plus plan

    Found in: Life Insurance

    50 Plus plan is life insurance specially for the over 50s.

  • Accident

    Found in: Car Insurance, Home Insurance, Life Insurance

    An accident is an unexpected, undesirable and possibly violent event that results in damage and harm to someone and/or something.

  • Accidental damage

    Found in: Car Insurance, Home Insurance

    Accidental damage is damage caused suddenly, by external means, that isn't expected and isn't deliberate.

  • Accidental death benefit

    Found in: Life Insurance

    Accidental death benefit is an insurance policy or a feature of an insurance policy that pays a specified sum to the beneficiary if the policyholder is killed in an accident.

  • Act of God

    Found in: Car Insurance, Home Insurance

    An Act of God is an event that is outside human control, not the fault of any person and which can't be prevented, for example, a lightning strike. Acts of God may not be insurable.

  • Actuary

    Found in: Life Insurance

    An actuary is a statistician, specialising in calculating risk, especially for insurance, pension rates and premiums purposes.

  • Additional drivers

    Found in: Car Insurance

    Additional drivers are drivers you name on your car insurance policy in addition to you, the policyholder.

  • Advanced driving qualification

    Found in: Car Insurance

    An advanced driving qualification is a way of improving your road skills, helping you to be a better driver. The Institute of Advanced Motorists (IAM) offers Advanced Driving Tests.

  • Adventure activity

    Found in: Travel Insurance

    An adventure activity is a potentially dangerous activity listed under the Activities section of your policy. You're only covered while taking part in these activities if they're shown on your policy schedule.

  • Agent

    Found in: Car Insurance, Home Insurance

    An agent is a trained, professional motor mechanic/recovery driver or specialist service provider.

  • Aggravated theft (car-jacking)

    Found in: Car Insurance

    Aggravated theft, also known as car-jacking, is forceful or violent theft of your vehicle while you or your spouse are inside the car.

  • Alternative medicine

    Found in: Pet Insurance

    Alternative medicine is herbal or homeopathic medicine recommended by your vet and prescribed by a suitably qualified vet.

  • Alzheimer's disease

    Found in: Life Insurance

    A progressive, degenerative disease of the brain and the most common form of dementia.

  • Amount of cover

    Found in: Car Insurance, Home Insurance, Life Insurance

    The amount of your cover is the amount you're insured for (shown on your Plan or Policy Schedule). Also see Level Cover and Decreasing Cover.

  • Annual travel insurance (Multi trip insurance)

    Found in: Travel Insurance

    For annual multi-trip cover:

    • you will only be covered if you are aged 79 years or under at the date that your travel insurance quotation was given
    • there is no limit on the number of trips that you take during the period of insurance
    • any trip which is booked to last longer than 31 days is not covered unless you have chosen to extend the maximum trip length (to 45 or 60 or 90 days) and this is shown on your policy schedule
    • trips within the UK must be for at least 2 consecutive nights and have
      i) pre-booked transport or accommodation
      or
      ii) be more than 25 miles from your home (unless it involves a sea crossing)
  • Aplastic anaemia

    Found in: Life Insurance

    A condition where bone marrow doesn't produce enough new cells to replenish blood cells. Complete aplastic anaemia is where there is a complete bone marrow failure.

  • Appointed adviser

    Found in: Car Insurance, Home Insurance, Travel Insurance

    An appointed adviser is a solicitor or appropriately qualified person, firm or company, including us, who is chosen to act for you in a claim for compensation.

  • Approved repairer

    Found in: Car Insurance, Home Insurance

    An approved repairer is one we've approved and authorised to repair your vehicle following a claim. In Home Insurance we may also use an approved supplier to provide you with replacement goods.

  • Area of cover

    Found in: Travel Insurance

    UK - England, Scotland, Wales and Northern Ireland.

    Europe - Albania, Andorra, Austria, Azores, Balearic Islands, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canary Islands, Channel Islands, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, Former Yugoslav Republic of Macedonia, France, Germany, Gibraltar, Greece, Greek Islands, Hungary, Iceland, Ireland, Isle of Man, Italy, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Madeira, Malta, Moldova, Monaco, Montenegro, Morocco, Netherlands, Norway, Poland, Portugal, Romania, Russia west of the Ural mountains, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Tunisia, Turkey, Ukraine, United Kingdom, and Vatican City State.

    Worldwide excluding North and Central America, Caribbean and Bahamas - Anywhere except the following places: Anguilla, Antigua, Aruba, Bahamas, Barbados, Barbuda, Belize, Canada, Cayman Islands, Caribbean Islands, Costa Rica, Cuba, Curacao, Dominica, Dominican Republic, El Salvador, Grand Cayman, Grenada, Guadeloupe, Guatemala, Haiti, Hawaii, Honduras, Jamaica, Martinique, Mexico, Montserrat, Netherlands Antilles, Nicaragua, Panama, Puerto Rico, Saint Barthélemy, Saint Eustatius, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands, United States of America, Virgin Islands (British and United States).

    Worldwide - Anywhere in the World.

  • Association of British Insurers (ABI)

    Found in: Car Insurance, Home Insurance, Life Insurance

    The Association of British Insurers (ABI) represents the overall interests of the UK's insurance industry. The Association speaks out on issues of common interest, helps to inform and participate in debates on public policy issues and acts as an advocate for high standards of customer service in the insurance industry. The Association has around 350 company members which, between them, provide around 90% of domestic insurance services sold in the UK. www.abi.org.uk/

  • Authorised firm

    Found in: Car Insurance, Home Insurance, Life Insurance

    An authorised firm is one that has permission from the FSA to carry out regulated activities, such as advising, dealing in and managing investments and arranging home finance activities.

  • Bacterial Meningitis

    Found in: Life Insurance

    Meningitis is inflammation of the membranes which cover the brain and spinal cord. Bacterial meningitis is where this inflammation is caused by a bacterial infection.

  • Beneficiary

    Found in: Life Insurance

    A beneficiary is the person, or organisation such as a charity, who is to receive assets or profits from an estate, a trust, an insurance policy claim or similar distribution.

  • Breakdown

    Found in: Car Insurance

    Breakdown is the immobilisation of the vehicle due to a mechanical or electrical failure, theft or attempted theft, vandalism, accidental damage, a flat tyre or a lack of fuel that happens during the period of cover.

  • Buildings and contents

    Found in: Home Insurance

    Buildings and contents insurance gives you cover for both buildings insurance and contents insurance.

  • Buildings insurance

    Found in: Home Insurance

    Buildings insurance gives you cover for the cost of rebuilding or repairing your house, fixtures and fittings within the boundaries of your home, if they're damaged or destroyed. Buildings insurance may be combined with contents insurance.

  • Business use

    Found in: Car Insurance

    Business use is when you use the insured car for your own business, travelling to more than one place of work and between places of work.

  • Cancellation

    Found in: Car Insurance, Home Insurance, Life Insurance

    Cancellation is the ending of a policy before it's due to expire. There may be a cancellation clause in a policy setting out the conditions under which the policy may be cancelled by notice. The period of notice could be anything from 48 hours to three months. Cancellation may mean you get back some of your premiums, but in many cases you won't get anything back. You should check your policy details to find out, if this is something you're considering.

  • Cancellation cover

    Found in: Travel Insurance

    Cancellation cover gives you cover if you need to cancel your holiday. But check what's covered, and when cover starts, before you buy.

  • Cardiomyopathy

    Found in: Life Insurance

    A disorder of the heart muscle often of unknown cause which can be divided into three main groups according to structure and functional features: Dilated (or congestive), Hypertrophic and Restrictive.

  • Car-jacking

    Found in: Car Insurance

    See aggravated theft.

  • Certificate of motor insurance

    Found in: Car Insurance

    A certificate of motor insurance is proof that your car is insured, and is required by law if your car is used or kept on a public highway.

  • Children

    Found in: Travel Insurance

    A child is any insured person, other than the policyholder and the policyholder's spouse or partner, who is aged 21 years or under and named on the policy schedule. Children are automatically covered if travelling with the policyholder, the policyholder's spouse or partner, or an adult (aged 22 years or over) insured by the policy, or as part of an organised school, university or club trip accompanied by a responsible adult. Children aged 16-21 years can be covered when travelling unaccompanied if you choose this option and it's shown on your policy schedule.

  • Claim

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    You make a claim when you ask your insurer to pay you the sum of money that is owed to you under the terms of your insurance policy.

  • Claimant

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    A claimant is the person making a claim.

  • Colleague

    Found in: Travel Insurance

    A colleague is a person in the UK who works for the same company as you and who, if away from work at the same time as you, would prevent the business from running properly. A director of the company must be able to confirm this in the event of a claim.

  • Complementary medicine

    Found in: Pet Insurance

    Complementary medicine includes acupuncture, hydrotherapy, osteopathy, physiotherapy and chiropractic therapy recommended by your vet and carried out by a suitably qualified person that has been specifically recommended by your vet.

  • Comprehensive car insurance

    Found in: Car Insurance

    Comprehensive car insurance covers accidental damage caused to your car as well as damage and/or injury you cause to another vehicle or its driver in an accident. It also covers your car if it's damaged by fire or stolen and not recovered.

  • Condition

    Found in: Pet Insurance

    A condition is an injury, illness, disease, or symptoms of injury, illness, disease, including directly or indirectly related problems, no matter where these are noticed or occur in or on your pet.

  • Contents insurance

    Found in: Home Insurance

    Contents insurance gives you cover for your personal possessions and household goods within your home. Contents insurance may be combined with buildings insurance.

  • Cooling-off period

    Found in: Car Insurance, Travel Insurance, Life Insurance, Home Insurance, Pet Insurance

    A cooling off period is the time you have to change your mind when buying insurance or other financial products or services. The actual time varies, so check your policy details.

  • Coronary artery by-pass grafts

    Found in: Life Insurance

    A surgical procedure to relieve angina and reduce the risk of death from coronary artery disease. Arteries or veins from elsewhere in the patient's body are grafted to the coronary arteries to bypass narrowings and improve the blood supply to the heart.

  • Cosmetic modification

    Found in: Car Insurance

    Cosmetic modifications are alterations to a vehicle which affect its appearance but not its performance.

  • Courtesy car

    Found in: Car Insurance

    A courtesy car is a rental car that may be paid for by an insurance company while your car's off the road for accident repairs.

  • Cover

    Found in: Car Insurance, Home Insurance, Life Insurance

    Cover is another word for the sum assured or insured. See amount of cover.

  • Creutzfeldt-Jakob disease

    Found in: Life Insurance

    A rare degenerative brain disease that leads to a rapid decrease of mental function and movement. This disease is sometimes referred to as a human form of Mad Cow disease.

  • Critical Illness Cover (CIC)

    Found in: Life Insurance

    Critical Illness Cover (CIC) is insurance that pays out on diagnosis of a specified condition during the policy term, after surviving at least 14 days. The cash from a claim under your Critical Illness Cover could be used to pay off a mortgage or make adaptations to your home, such as putting in wheelchair ramps. See Life insurance with critical illness.

  • Cutting short your trip (Curtailment)

    Found in: Travel Insurance

    If you have to cut short your trip and return home earlier than planned. Please check the policy for full details.

  • Death in service

    Found in: Life Insurance

    Death in service is insurance benefit provided by your employer. This kind of policy is usually not as flexible as your own life insurance and usually ends if your job with that employer ends.

  • Decreasing cover

    Found in: Life Insurance

    Decreasing cover is designed to cover the reducing amount you owe on a capital and interest repayment mortgage. The amount of cover goes down each month but the premium is fixed when your plan starts and stays the same for the policy term. The amount of cover is not guaranteed to repay the amount outstanding under your mortgage. Also see Level cover.

  • Defaqto

    Found in: Car Insurance, Travel Insurance, Home Insurance, Life Insurance, Pet Insurance

    Defaqto is an independent financial research company specialising in rating, comparing and analysing financial products. Defaqto is one of the leading providers of financial product data in the UK, covering over 30,000 products across banking, life, pensions, investments and general insurance.

  • Departure point

    Found in: Travel Insurance

    The departure point is the airport, port, international train or coach station where your journey out of the UK to your destination begins, and where the final part of your journey back into the UK starts.

  • Dependant

    Found in: Life Insurance

    A dependant is someone who depends on someone else for financial support, such as a child supported by their parents.

  • Disability Living Allowance (DLA)

    Found in: Life Insurance

    Disability Living Allowance (DLA) is a tax-free benefit for disabled children and adults who need someone to help look after them, or have walking difficulties. See Direct Gov's website pages.

  • Disaster restoration firm

    Found in: Home Insurance

    A disaster restoration firm is an organisation that specialises in restoring your buildings and possessions following damage caused by water, fire and smoke.

  • Doctor

    Found in: Travel Insurance

    A doctor is a legally qualified person who holds the necessary certificates needed in the country in which they are currently practising. This can't include you, a travelling companion, someone you work with or a relative.

  • Document of car Insurance

    Found in: Car Insurance

    A document of car insurance is the policy booklet that we send with your other car insurance documents.

  • Document of home insurance

    Found in: Home Insurance

    The document of home insurance is the policy booklet we send with your other home insurance documents.

  • Document of pet insurance

    Found in: Pet Insurance

    The document of insurance is the policy booklet containing the terms and conditions, we send with your other pet insurance documents.

  • Domestic Emergency Helpline

    Found in: Home Insurance

    If you suffer a domestic emergency in your home, such as a blocked toilet, hot water or heating failure, call our Domestic Emergency Assistant helpline.

    A trained operator will be able to help and advise you and if required arrange for emergency assistance or repairs to be completed by an approved tradesperson. If you use this service you will be responsible for paying the tradesperson's charges and any costs of materials incurred.

  • Driving

    Found in: Car Insurance

    Driving means being in charge of a motor vehicle for the purpose of driving it. A car doesn't necessarily need to be moving for you to be in charge of it.

  • Driving Standards Agency (DSA)

    Found in: Car Insurance

    The Driving Standards Agency is part of the UK Department for Transport (DfT) with responsibility for setting the standards and conducting theory and practical driving tests. The DSA is also responsible for the:

    • statutory regulation of driving instructors and trainers
    • promotion of voluntary registers and non-statutory activities to improve driving standards

    www.dsa.gov.uk

  • DVLA (Driver and Vehicle Licensing Agency)

    Found in: Car Insurance

    The Driver and Vehicle Licensing Agency is an executive agency of the Department for Transport (DfT), responsible for, among other things, issuing driving licences and vehicle registration documents. www.dft.gov.uk/dvla

  • Emergency fund

    Found in: Life Insurance

    An emergency fund is money you put aside to help you pay bills and buy important items if you're short of cash. You can insure against some emergencies, such as redundancy or medical problems but sometimes you might be caught unawares, so it makes sense to have an emergency fund just in case.

  • Emergency medical expenses

    Found in: Travel Insurance

    This will cover you for costs for unexpected illness or injury during a holiday / trip. Check your policy for the full terms and conditions.

  • Encephalitis

    Found in: Life Insurance

    An acute inflammation of the brain.

  • End date

    Found in: Life Insurance

    The end date is the date when your plan or policy ends. This date is shown in your Plan, or Policy Schedule.

  • Endorsements

    Found in: Car Insurance, Home Insurance, Life Insurance

    Endorsements are changes or special conditions that apply to the terms of a policy, and are sometimes called exclusions. In the motoring world, they also mean offences recorded on your driving licence.

  • Endowment insurance

    Found in: Life Insurance

    An endowment insurance policy is one that offers you a combination of savings and life insurance. You make regular payments for the policy term, after which you're entitled to a lump sum. If you die during the policy term your policy pays out a predetermined lump sum. An endowment insurance policy is often tied to a mortgage with the intention that it will pay out any returns at the time your mortgage ends or a lump sum if you die before this.

  • Essential pet insurance

    Found in: Pet Insurance

    Essential pet insurance is our basic level of cover for our pet insurance policy.

  • Estate

    Found in: Life Insurance

    Your estate is everything you own, minus what you owe, when you die.

  • European cover

    Found in: Travel Insurance

    See 'Area of Cover'

  • European insurance cover

    Found in: Car Insurance

    European insurance cover is cover if you take your car to Europe.

  • Excess

    Found in: Car Insurance, Pet Insurance, Travel Insurance, Home Insurance

    An excess is the amount that you have to pay towards a claim. A compulsory excess is an excess applied by your insurer and could vary depending on your circumstances. A voluntary excess is a figure agreed with your insurer, usually where you agree to pay a higher part of each claim in return for a lower premium. Excesses vary between different types of cover (car, home, pet and travel) and voluntary excesses are not available on pet or travel insurance. Refer to your document of insurance for more information.

  • Exclusions

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    Exclusions are things that your insurance won't cover, such as a result of war, wear and tear or fraud. Exclusions vary between insurance products but all exclusions should be clear and specific.

  • Family

    Found in: Home Insurance

    Family means your husband, wife or partner, children (including foster children), parents and other relatives who permanently live with you.

  • Financial advice

    Found in: Life Insurance

    Financial advice involves discussions and recommendations about the most suitable financial product for you made by an adviser who is regulated by the Financial Services Authority (FSA). We offer our own FSA-regulated advisers who can help you with your questions.

  • Financial Services Authority (FSA)

    Found in: Life Insurance

    The Financial Services Authority is currently the independent body that regulates the UK's financial services industry. The FSA has a wide range of rule-making, investigatory and enforcement powers. www.fsa.gov.uk

  • Fixtures and fittings

    Found in: Home Insurance

    Fixtures and fitting are both covered by buildings insurance, even though some fittings may appear to be contents.

    Fixtures usually include:

    • central-heating boilers, systems and radiators
    • light-fittings
    • fitted kitchens, wardrobes and bathroom furniture

    Fittings usually include:

    • lampshades, curtains, curtain rails and poles
    • TV aerials and satellite dishes
    • paintings or mirrors hung or screwed to a wall
    • freestanding kitchen equipment such as white goods
  • Floodplain

    Found in: Home Insurance

    A floodplain is a land area next to a river, stream, lake, estuary or other water body that is subject to flooding. These areas, if left undisturbed, act to store excess floodwater.

  • Foreign & Commonwealth Office (FCO)

    Found in: Travel Insurance

    The Foreign & Commonwealth Office (FCO) offers advice and help for British nationals abroad. The FCO may advise against travel to some places and your travel insurance policy may not cover you if you choose to ignore that advice.

  • Foreign use

    Found in: Car Insurance

    Foreign use means use abroad. All LV= car insurance policies give you the minimum legal cover you need to drive in any of the EU countries.

  • Friendly Society

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    Friendly Societies are one of the oldest types of financial services operations around. Friendly Societies offer members a wide range of affordable savings, investments, insurances, pensions and specialist annuities and are similar to mutual life assurance companies but with different tax rules. LV= is the largest Friendly Society in the UK.

  • Fronting

    Found in: Car Insurance

    Fronting is when a, usually young, driver is added to a car insurance policy as a named driver when in reality he or she is the main driver. If you do this, any subsequent claim could be rejected because you've supplied false information when applying for your car insurance and you could end up with points on your licence for fronting and driving without insurance.

  • Golf equipment

    Found in: Travel Insurance

    Golf equipment is golf clubs, golf bag, golf trolley and golf shoes.

  • Green card (International Motor Insurance Card)

    Found in: Car Insurance

    A Green card is evidence that you've the minimum insurance cover needed under the law of the country you're visiting. A Green card isn't needed for European travel, because minimum legal cover is automatically included in UK policies.

  • Grey import

    Found in: Car Insurance

    A grey import is a vehicle designed and built for sale outside the EU, and imported into the UK. Grey imports might not meet European specifications or pass European approval.

  • Gross earned income

    Found in: Life Insurance

    Gross earned income is the income you earn from your job, such as your salary before income tax and National Insurance is paid. (Net earned income is after deductions.) Earned income doesn't include, for example, any income from savings or investments.

  • Guaranteed and reviewable premiums

    Found in: Life Insurance

    Guaranteed rates mean that the premium you pay won't be changed by the insurer during the policy term. Reviewable rates mean the insurer can change the premium. They will usually only do this for specific reasons as explained in the policy conditions. If you've chosen an inflation-linked or index-linked policy or plan then your cover and premiums will go up in line with inflation. Also see Inflation-Linked Cover.

  • Guaranteed no claim discount or bonus

    Found in: Car Insurance

    Your no claim discount (NCD) or bonus gives you a reduced premium for not making a claim on your car insurance policy. The longer the period of no claim, the higher the discount, up to a maximum, usually 75%. If you have a minimum of four years NCD then you can guarantee it, meaning that it will be protected for the life of your car insurance policy, no matter how many claims you make. Note that this only applies to Comprehensive cover.

  • Health insurance

    Found in: Life Insurance

    Health insurance refers to a range of insurances that can give you medical treatment and / or a lump sum or regular income if you fall ill or need treatment for an injury.

  • Highway Code

    Found in: Car Insurance

    The Highway Code is a list of rules, many of which are legal requirements, that applies to all road users. The Highway Code is essential reading for everyone. Its rules apply to all road users: pedestrians, horse riders and cyclists, as well as motorcyclists and drivers. You can get a copy of the Highway Code online at www.direct.gov.uk/highwaycode

  • Holiday cancellation cover

    Found in: Pet Insurance

    You will be covered if you have to cancel or curtail your holiday because your pet requires emergency treatment or goes missing. Please see the policy for full terms and conditions.

  • Home

    Found in: Home Insurance

    Your home is the private property at the address shown on your schedule, together with its garages and domestic outbuildings. It's where you usually live in the UK.

  • Home entertainment equipment

    Found in: Home Insurance

    Home entertainment equipment includes radios, televisions, digital, cable and satellite receivers, home computers including laptops, game consoles, video recorders, DVD players, record players, compact disc players and tape recorders but not mobile phones and other hand held devices.

  • Home insurance

    Found in: Home Insurance

    Home insurance includes contents and buildings insurance. Contents insurance covers your personal possessions and household goods. Buildings insurance covers the property itself.

  • Identity fraud

    Found in: Home Insurance

    This is where criminals use your personal details for fraudulent purposes, such as getting credit cards, loans, state benefits and documents such as
    passports and driving licences in your name. Find out more at www.identitytheft.org.uk

  • Immobiliser

    Found in: Car Insurance

    An immobiliser is either:

    • an electronic anti-theft device that helps stop the engine being started. Usually activated when you remove the ignition key. Usually factory-fitted by the manufacturer but may be retro-fitted and supplied with certificate of installation

    or

    • a manual or mechanical immobiliser. Usually fitted to the steering wheel
  • In-car entertainment (ICE)

    Found in: Car Insurance

    In-car entertainment means car audio, entertainment and navigation equipment permanently fitted to your car.

  • Income Protection (IP)

    Found in: Life Insurance

    Income Protection insurance pays you a tax-free monthly income if you can't work due to sickness, accident or injury. You can choose between level cover and inflation linked cover.

  • Index linked

    Found in: Life Insurance

    Index linked is where the benefit or income from a policy or investment is linked to an index, such as the Retail Prices Index (RPI), so that it keeps pace with inflation. See Inflation-linked Cover.

  • Inflation-linked cover

    Found in: Life Insurance

    Inflation linked cover means that the amount you're covered for and the premium you pay go up each year in line with inflation. At LV=, we measure this using the Retail Prices Index (RPI).

  • Inheritance tax

    Found in: Life Insurance

    Inheritance tax is a tax that may need to be paid on your estate; the money or possessions you leave behind when you die. Inheritance tax might also need to be paid on some gifts you make during your lifetime. You do have a tax-free allowance, also known as the 'nil rate band', which is currently £325,000 and unlikely to change until April 2015.

  • Insurance Premium Tax (IPT)

    Found in: Life Insurance

    Insurance Premium tax is a tax on general insurance premiums, included in the price of your insurance premium. At present, there are two rates of Insurance Premium Tax:

    • a standard rate of 6%
    • a higher rate of 20% for travel insurance and some insurance for vehicles and domestic/electrical appliances.

    Most life insurance policies are exempted from the tax.

  • Insured

    Found in: Car Insurance, Home Insurance, Travel Insurance, Life Insurance

    The 'insured' means you, if you're insured under a contract of insurance.

  • Insurer

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance

    An insurer is a provider of insurance. As an insurer, our details are: Liverpool Victoria Insurance Company Limited, registered in England and Wales No. 3232514, is authorised and regulated by the Financial Services Authority, register No. 202965. Registered address: County Gates, Bournemouth, BH1 2NF.

  • Joint life cover

    Found in: Life Insurance

    Joint life cover is where you and another person are both insured on the same policy. You can be insured on a first death or second death basis. If it's first death then the policy pays out when the first person dies during the term of cover, the other person is then no longer covered and the policy ends. If it's second death then the cover continues after the first person dies and remains in force until the second person dies, provided it's within the term of cover.

  • Journey

    Found in: Travel Insurance

    A trip that takes place during the period of insurance which begins when you leave home and ends when you get back home or to a hospital or nursing home in the UK, whichever is earlier.

    For single trip cover

    - a trip can't be more than 366 days if you are less than 65 years of age or more than 90 days if you are 65 years of age or over. Your trip is from the trip start date to the cover end date shown on your policy schedule.

    - if you return home before your cover end date, all cover will also end.

    For annual multi-trip cover

    - you will only be covered if you are aged 79 years or under at the date that your travel insurance quotation was given

    - there is no limit on the number of trips that you take during the period of insurance

    - any trip which is booked to last longer than 31 days is not covered unless you have chosen to extend the maximum trip length (to 45 or 60 or 90 days) and this is shown on your policy schedule

    - trips within the UK must be for at least 2 consecutive nights and have
    i pre-booked transport or accommodation
    or
    ii be more than 25 miles from your home (unless it involves a sea crossing)

  • Kit car

    Found in: Car Insurance

    A kit car is a car assembled from a collection of parts sold in kit form, usually needing specialist insurance. A kit car usually has a number plate with a 'Q' prefix.

  • Knock-for-knock

    Found in: Car Insurance

    Knock-for-knock is an agreement between insurance companies to reduce paperwork and legal costs, where insurers pay for the costs of claims for their own policyholders, rather than claiming the money from the other party.

  • Lapse

    Found in: Life Insurance

    A policy lapses (or ends) if you stop paying the premiums. There is usually a period of time in which you must pay any premiums you've missed to stop this happening, so check your policy or plan conditions.

  • Legal action

    Found in: Car Insurance, Home Insurance, Travel Insurance

    Legal action means settlement negotiations, hearings in a civil court, arbitration and any appeals resulting from such hearings that we've agreed to. This doesn't include any application by you to the European Court of Justice, European Court of Human Rights or similar international body.

  • Legal costs

    Found in: Car Insurance, Home Insurance, Travel Insurance

    Legal costs are fees, costs and expenses (including Value Added Tax or equivalent local goods and services tax) which we agree to pay for you in connection with legal action. Also, any costs which you're ordered to pay by a court or arbitrator (other than damages, fines and penalties) or any other costs we agree to pay.

  • Legal expenses cover

    Found in: Car Insurance, Home Insurance

    Legal expenses cover is insurance against any fees you might have to pay if you consult or hire a lawyer, or if you're involved in other legal proceedings. Legal expenses cover is sometimes included with a policy or may be available as an optional extra. Legal expenses cover is often offered with home or motor insurance.

  • Level cover

    Found in: Life Insurance

    With level cover, the amount of cover and the premium you pay is fixed when your plan starts and stays the same for the policy term. Also see Decreasing cover.

  • Life insurance

    Found in: Life Insurance

    Life insurance is insurance that pays out a set amount of money if you die before the end date of your plan. The cash could be used to pay off a mortgage or provide a lump sum to ease the financial worries for your family.

  • Life insurance with critical illness

    Found in: Life Insurance

    You might be able to add critical illness cover to your life insurance policy. Or your life insurance policy might include critical illness cover. With a life insurance policy that includes critical illness cover, you get insurance that pays out a set amount of money if you die or are diagnosed with a specified condition during the policy term, after surviving at least 14 days.

  • Life/lives insured

    Found in: Life Insurance

    Life or lives insured means the person or people insured under the policy.

  • Limit of cover

    Found in: Life Insurance

    The limit of cover is the most we'll pay in any one claim.

  • Loading (premium)

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance

    A premium loading is an increase to a premium that's applied because of an increased likelihood of a claim.

  • Loss adjuster

    Found in: Home Insurance

    A loss adjuster is an independent person engaged by an insurance company to check that a claim is covered and negotiate with the policyholder the amount payable for a claim.

  • Loss assessor

    Found in: Home Insurance

    A loss assessor is a person who negotiates claims on your behalf.

  • Lump sum

    Found in: Life Insurance

    Lump sum means a single sum of money paid by you or paid to you.

  • Main driver

    Found in: Car Insurance

    The main driver is the person who uses the car the most; whether for social purposes or for travel to and from a place of business, duty or study. See fronting.

  • Major organ transplant

    Found in: Life Insurance

    Major organs are classed as bone marrow, complete heart, kidney, liver, lung or pancreas.

  • Market value

    Found in: Car Insurance

    Market value is the cost of replacing your vehicle with another of the same make, model, age and condition at the time of an accident or loss not the price you paid for it. (See UK market value for breakdown insurance definition.)

  • Mastectomy

    Found in: Life Insurance

    The surgical removal of one or both breasts.

  • Medical condition

    Found in: Car Insurance

    As far as your car insurance policy is concerned, medical condition means any condition that you've had to report to the DVLA because it may affect your driving.

  • Modified car

    Found in: Car Insurance

    A modified car is one that's been altered to affect (usually improve) its performance. See Cosmetic modification.

  • Money

    Found in: Home Insurance

    Money means cash, bank and currency notes, cheques, postal and money orders, bankers' drafts, luncheon vouchers, saving stamps and certificates, bonds, current postage stamps, travellers cheques, travel tickets, season tickets and gift tokens belonging to, or the responsibility of, you or your family.

  • MOT

    Found in: Car Insurance

    MOT is the Ministry of Transport test, usually referred to as an MOT. It's an annual safety and roadworthiness test that applies to all UK-registered cars over three years' old.

  • Motor Insurance Groups

    Found in: Car Insurance

    Cars used to be rated by insurance companies on a scale of 1 to 20. On 1 January 2010, a scale of 1 to 50 was introduced. The rating is based on the engine size, repair costs, risk of theft etc. and cars with a lower rating are usually cheaper to insure.

  • Motor Insurers' Bureau (MIB)

    Found in: Car Insurance

    The Motor Insurers' Bureau is an organisation established in 1946 to compensate the victims of negligent uninsured and untraced motorists. www.mib.org.uk

  • Motor Neurone disease

    Found in: Life Insurance

    A neurological disease which affects the cells that control voluntary muscle activity including speaking, walking, breathing, swallowing and general movement of the body.

  • Motorail

    Found in: Car Insurance

    Motorail is a specific European Rail Service for transporting vehicles across Europe. Motorail services do not include Channel Tunnel rail services.

  • Multi-car insurance

    Found in: Car Insurance

    Multi car insurance means different things to different insurance companies; some companies put more than one car on the same policy, some offer a discount for a second, or subsequent, car insurance policy. LV= goes one stage further than that and actually offers a multi-insurance discount if you take out any combination of LV= insurance policies, not just multi-car insurance.

  • Multiple sclerosis

    Found in: Life Insurance

    This is an inflammatory condition in which the fatty layers around the brain and spinal cord are damaged. It affects the ability of nerve cells in the brain and spinal cord to communicate with each other.

  • Mutual life assurance company

    Found in: Life Insurance

    Mutual organisations are not owned by external shareholders (like PLCs are) but work for, and only answer to, their customers. See Friendly Society.

  • National Insurance Contributions (NICs)

    Found in: Life Insurance

    You pay National Insurance Contributions from your pay to qualify for some social security benefits such as the State Pension, Jobseeker's Allowance and Employment Support Allowance.

  • New Drivers Act

    Found in: Car Insurance

    Under the New Drivers Act, if you get six or more penalty points on your licence within two years of passing your driving test, the DVLA will revoke your driving licence and you'll need to reapply for a driving licence as a learner driver and re-sit your driving test.

  • No claim bonus

    Found in: Car Insurance

    See definition for no claim discount.

  • No claim discount

    Found in: Car Insurance

    No claim discount or no claim bonus gives you a reduced premium for not making a claim on your car insurance policy. The longer the period of no claim, the higher the discount, up to a maximum, usually 75%. Note: it's a no claim bonus, not a no blame bonus. Also see Guaranteed no claim discount or bonus.

  • Office equipment

    Found in: Home Insurance

    Office equipment includes computers, keyboards, visual display units and printers, word-processing equipment, desktop publishing units, multi-user small business computers and fax machines.

  • Optional extra

    Found in: Car Insurance, Home Insurance, Travel Insurance

    An optional extra is an additional feature that you may wish to buy when you take out a policy.

  • Parallel import

    Found in: Car Insurance

    Parallel imports are vehicles imported and sold within the UK by the manufacturer, usually at a higher price than a standard model. See Grey import.

  • Parkinson's disease

    Found in: Life Insurance

    A progressive, degenerative disorder of the central nervous systems which mainly affects movement but can also lead to behavioural problems and dementia.

  • Partner or domestic partner

    Found in: Car Insurance, Home Insurance, Travel Insurance, Life Insurance

    A partner is your husband, wife, civil partner or someone you're living with as if you're married to them.

  • Pass Plus

    Found in: Car Insurance

    Pass Plus is a training course aimed at new drivers that aims to build on your driving skills and make you a safer driver.

  • Passengers

    Found in: Car Insurance

    Passengers are the occupants of a vehicle (excluding hitchhikers).

  • Penalty points

    Found in: Car Insurance

    Penalty points are points added to your driving licence if you're convicted of a driving offence. Your insurance premium may be affected if you get points on your licence; and you need to let us know if you have or get points on your licence.

  • Period of insurance

    Found in: Travel Insurance

    For single trip cover - The period of insurance for all sections, other than cancellation, starts at the beginning of your journey and finishes at the end of your journey. Cancellation cover begins from the start date shown on your policy schedule and ends at the beginning of your journey.

    For annual multi-trip cover - The period of insurance for all sections, other than cancellation, starts at the beginning of your journey and finishes at the end of your journey. Cancellation cover begins on the start date shown on your policy schedule or the date you booked your journey, whichever is the later, and ends at the beginning of your journey.

    For single trip and annual multi-trip cover - The period of insurance ends on the end date shown on your policy schedule, unless you can't finish your journey as planned because of death, injury or illness or there's an unavoidable delay to the public transport system. In these circumstances, we'll extend cover free of charge until you can reasonably finish that journey.

  • Personal accident benefit

    Found in: Car Insurance

    Personal accident benefit is a policy or a feature of a policy that pays a specified sum if you're injured in an accident. The payout may be weekly, for a set period, or a lump sum.

  • Personal accident cover

    Found in: Travel Insurance

    Personal accident cover insures you against certain accidents resulting in the loss of sight, loss of limbs or or total permanent disablement.

  • Personal possessions cover

    Found in: Travel Insurance

    Personal possessions cover insures you against theft, damage to or loss of your personal effects during a holiday / trip. Personal possessions cover is usually an optional extra selection. It covers each of your suitcases, trunks and similar containers (including their possessions contents) and items you wear or carry that are taken on, or purchased during, a trip by you (including your valuables).

  • Personal possessions, personal effects, personal belongings

    Found in: Home Insurance

    Personal possessions cover is usually an optional extra on the contents insurance policy.

  • Pet

    Found in: Pet Insurance

    Pet means the dog or cat specified in your Pet Insurance Schedule and Statement.

  • Pet Travel Scheme (PETS)

    Found in: Pet Insurance

    The Pet Travel Scheme (PETS) is the Government scheme allowing you to take your pet abroad to certain specified countries and re-enter the United Kingdom without the need for your pet to go into quarantine, provided certain criteria have been adhered to.

  • Phishing

    Found in: Home Insurance

    Phishing is a technique used to trick you into giving your personal details, this might be through bogus websites, web-forms emails, and documents, which will often disguise themselves to look genuine; risk of identity theft.

  • Plan

    Found in: Life Insurance

    Your plan is a formal, legally-binding contract of insurance that includes the terms of your cover.

  • Plan anniversary

    Found in: Life Insurance

    Plan anniversary is each 12 month anniversary of the start date of your plan.

  • Plan conditions

    Found in: Life Insurance

    Plan conditions show the details of what your plan covers, what it doesn't cover, and when and how you can claim.

  • Plan owner

    Found in: Life Insurance

    The plan owner is the legal owner of the plan, and the person legally entitled to the benefits from it in the event of a claim.

  • Policy

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    Your policy is a formal, legally-binding contract of insurance that includes the terms of your cover.

  • Policy term

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    The policy term is how long the policy runs; in other words, the period you're covered for.

  • Policyholder or Policy owner

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    The policyholder or policy owner is the legal owner of the policy, and the person legally entitled to the benefits from it in the event of a claim. They are the main/lead person named on the policy schedule.

  • Pre-existing condition

    Found in: Pet Insurance

    A pre-existing condition is a condition or symptom or sign of injury, illness or disease that occurred or existed in any form prior to the start date of the insurance for your pet.

  • Pre-existing medical condition

    Found in: Life Insurance

    A pre-existing medical condition is an illness or medical condition that's already been diagnosed when you apply for cover.

  • Premier pet insurance

    Found in: Pet Insurance

    Premier pet insurance is our comprehensive level of cover for our pet insurance policy.

  • Premium

    Found in: Car Insurance, Home Insurance, Life Insurance, Pet Insurance, Travel Insurance

    A premium is the amount you pay for your plan or policy. The frequency depends on the type of cover that you have, and could be monthly instalments, a single 'one-off' payment, three-monthly, six-monthly or yearly.

  • Primary pulmonary hypertension

    Found in: Life Insurance

    An increase in blood pressure in the pulmonary (lung) artery or vein.

  • Probate

    Found in: Life Insurance

    When a person dies, somebody has to deal with their estate (money, property and possessions left) by collecting all the money, paying any debts and distributing what is left to the people entitled to it.

    Probate is the court's authority, given to a person or persons to administer a deceased person's estate.

  • Progressive supranuclear palsy

    Found in: Life Insurance

    A rare, degenerative brain disease which involves gradual deterioration of death of certain areas of the brain.

  • Recurring conditions

    Found in: Pet Insurance

    Recurring conditions are conditions that may come back or that your pet is prone or susceptible to. These will be treated as one condition.

  • Registered keeper

    Found in: Car Insurance

    The registered keeper of a vehicle is the person recorded by the DVLA as being liable for the licensing of the vehicle and declaring it off the public road (SORN) and the person the police would contact about motoring and parking offences. The registered keeper is not necessarily the legal owner of the vehicle.

  • Relative

    Found in: Travel Insurance

    A relative is your mother (in-law), father (in-law), step parent (in-law), legal guardian, sister (in-law), brother (in-law), wife, husband, son (in-law), daughter (in-law), step child, foster/adopted child, grandparent, great grandparent, grandchild, great grandchild, uncle, aunt, nephew, niece, cousin, partner (including common law and civil partner) or fiance(e).

  • Renewal date

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance

    A renewal date is the date that your policy will end unless you renew your policy and pay the appropriate premium to continue with the cover.

  • Renewal notice

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance

    A renewal notice is a letter we send to you at least 21 days before your annual policy is up for renewal and due to expire.

  • Retail Prices Index (RPI)

    Found in: Home Insurance

    The Retail Prices Index is a general purpose domestic measure of inflation in the UK.

  • Risk

    Found in: Home Insurance, Car Insurance

    The peril or danger you want to insure against.

  • Roadside assistance

    Found in: Car Insurance

    See Breakdown insurance.

  • Schedule

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    Your schedule includes the:

    - period of cover
    - name of the policyholder
    - sections of insurance that apply
    - the cost (if it's a Life policy or plan)
    - limits of cover, and
    - any conditions that may vary the terms of your insurance.

    For travel insurance it identifies you, the period of insurance, the area of cover, the sections of this document of insurance that apply, and conditions which may change the terms of the document of insurance.

  • Security devices

    Found in: Car Insurance

    Security devices are things that make your vehicle less likely to be stolen, such as car alarms, immobilisers and tracking devices. See Immobiliser.

  • Single trip travel insurance

    Found in: Travel Insurance

    Single trip travel insurance, also known as single trip holiday insurance, means cover for just one holiday. A trip can't be more than 366 days if you are less than 65 years of age or more than 90 days if you are 65 years of age or over. Your trip is from the trip start date to the cover end date shown on your policy schedule. If you return home before your cover end date, all cover will also end.

  • Ski equipment

    Found in: Travel Insurance

    Ski equipment includes skis, bindings, poles, boots, or snowboards.

  • Ski pack

    Found in: Travel Insurance

    A ski pack is hired ski equipment, pre-booked ski school fees and lift passes.

  • SORN (Statutory Off Road Notification)

    Found in: Car Insurance

    A Statutory Off Road Notification is a declaration by the registered keeper that a vehicle isn't taxed because it's kept off the road.

  • Standard construction

    Found in: Home Insurance

    Standard construction means brick, stone or concrete walls, with a slate, tile, metal, asphalt or concrete roof.

  • Start date

    Found in: Car Insurance, Home Insurance, Life Insurance

    The start date is when your plan or policy starts. This date is shown in your Plan or Policy Schedule.

  • Student possessions insurance

    Found in: Home Insurance

    Student possessions insurance covers your contents while temporarily removed from your home whilst at university.

  • Subsidence, landslip and heave

    Found in: Home Insurance

    Subsidence is the vertical downward movement of a building foundation caused by the loss of support of the site beneath the foundations.
    Landslip is the sudden movement of soil on a slope or gradual creep of a slope over a period of time.
    Heave is the expansion of the ground beneath part or all of the building.
    See Royal Institution of Chartered Surveyors (RICS) (http://www.rics.org/).

  • Sum assured or insured

    Found in: Car Insurance, Home Insurance, Life Insurance

    See cover.

  • Surrender value

    Found in: Life Insurance

    Surrender value is what you might get back if you stop paying into your policy, for reasons other than death, before the agreed date. Most of the life insurance policies provided by LV= don't have a surrender value, so if you stop paying your premiums you get nothing back.

  • Systemic Lupus Erythematosus (SLE)

    Found in: Life Insurance

    This is where the immune system attacks the body's own cells and tissues, resulting in inflammation and tissue damage. It can affect any part of the body but most commonly affects the heart, joints, skin, lungs, blood vessels, liver, kidneys and nervous system.

  • Term

    Found in: Car Insurance, Home Insurance, Life Insurance

    The term is how long you're covered for.

  • Term insurance (or term assurance)

    Found in: Life Insurance

    Term insurance (or term assurance) is a form of life insurance that offers cover for a fixed period, during which a lump sum will be paid out if the life insured dies.

  • Terminal illness

    Found in: Life Insurance

    A terminal illness is a rapidly progressing and incurable illness where, in the opinion of an attending consultant and our Chief Medical Officer, you're not expected to live for more than 12 months from the date you're diagnosed.

  • Territorial Limits

    Found in: Pet Insurance

    Territorial limits means your pet is covered under all policy sections whilst in the United Kingdom.

    In addition, provided you comply with all the Pet Travel Scheme (PETS) regulations and requirements that apply both in the United Kingdom and the country to which you are travelling, this insurance also extends to cover your pet whilst temporarily located in any member country of the Pet Travel Scheme (PETS) excluding non EU listed countries as defined by the government Department for Environment Food and Rural Affairs (defra).


  • Terrorism

    Found in: Car Insurance, Home Insurance, Travel Insurance

    Terrorism is an act or threat of action by a person or group of people, whether acting alone or in connection with an organisation or government, committed for political, religious, ideological or similar purposes intended to influence any government or to frighten the public or any section of it. An 'action' means: violence, damage to property, putting life in danger, creating a public health risk, or disrupting electronic systems or transport services.

  • Thatcham

    Found in: Car Insurance

    The Motor Insurance Repair Research Centre, at Thatcham, carries out research for the motor insurance industry on the cost of car repairs and vehicle security. Thatcham research data are used as the basis for the Group Rating Panel's motor insurance group recommendations.

  • Third degree burns

    Found in: Life Insurance

    Burns which extend through the full layer of skin including the dermis and epidermis layers.

  • Track day

    Found in: Car Insurance

    A track day is when you drive your vehicle on a motor racing track, circuit, airfield, test venue, derestricted road or at an off-road event.

  • Tracking device

    Found in: Car Insurance

    A tracking device is a security feature that can help the police find your car it it's stolen. Probably applies only to newer cars and may involve an annual subscription.

  • Travelling companion

    Found in: Travel Insurance

    A travelling companion is a person who's booked to travel with you on your journey.

  • Treatment

    Found in: Pet Insurance

    Treatment is any examination, consultation, advice, tests, x-rays, drugs or medication administered or prescribed, surgery, nursing or care provided by, or under the direction of, a vet.

  • Trip

    Found in: Travel Insurance

    See 'Journey'

  • Trust

    Found in: Life Insurance

    A trust is a legal arrangement set up by the owner of something (such as a life insurance policy) to be looked after until the time comes when it can be given to someone else. One benefit of setting up a trust is that you can make sure your life insurance payout goes to your dependants. By placing the policy in trust this may also help them avoid paying inheritance tax on the monies they receive.

  • UK market value (breakdown insurance definition)

    Found in: Car Insurance

    UK market value is the value for the relevant make and model as specified in Glass's Guide or recognised equivalent. See market value for general motor insurance definition.

  • Underinsurance

    Found in: Home Insurance

    Underinsurance is when you don't have enough insurance to cover the insurable value of your property. If you're underinsured, you're unlikely to be able to recover all your losses if you need to claim.

  • Uninsured Loss Recovery (ULR)

    Found in: Car Insurance

    If a motor accident was the fault of a third party, we'll try to recover your uninsured losses such as repair costs, policy excess, loss of use, hire costs of alternative vehicle, transport costs, etc.

  • Unoccupied

    Found in: Home Insurance

    Unoccupied means not attended overnight by you or a member of your family or any member of your domestic staff.

  • Valuables

    Found in: Home Insurance, Travel Insurance

    Home Contents - Your valuables are your jewellery, watches, furs, items made of gold, silver and other precious metals, pictures and other works of art, including stamp, coin and medal collections.

    Travel - Valuables include jewellery, watches, glasses (including sunglasses), contact lenses, hearing aids, mobile phones, personal display assistants (PDAs, such as BlackBerrys), any kind of photographic or recording equipment and their accessories (including CDs, DVDs, tapes etc), any electric or electronic items or equipment including their accessories (e.g. laptops, games consoles, MP3 or MP4 players, memory sticks, chargers), items made of or containing precious metals or (semi) precious stones, furs, animal skins, antiques, binoculars, telescopes, musical instruments.

  • Vet

    Found in: Pet Insurance

    A vet is a member of the Royal College of Veterinary Surgeons actively working as a veterinary surgeon in the United Kingdom or veterinary surgeon registered and actively working outside the UK in countries covered by the Pet Travel Scheme (PETS).

  • Voluntary excess

    Found in: Car Insurance, Home Insurance

    You may be able to specify a higher excess, known as a voluntary excess, in order to reduce your premium. The excess is the amount of an insurance claim that will be paid by you and is normally subtracted from the claim amount by your insurer.

  • Waiver of premium

    Found in: Life Insurance

    Waiver of premium is a form of protection where the insurance company pays your premiums if you can't work because of sickness or accident.

  • Whole life insurance

    Found in: Life Insurance

    Whole life insurance is a policy that pays out on your death. There is no fixed term, cover continues as long as you continue to pay premiums. You pay premiums throughout your life or until you reach a certain age, when premiums could stop but cover continues.

  • Will (or testament)

    Found in: Life Insurance

    A will (or testament) is a legal declaration by which a person, names one or more persons to manage their estate and provides for the transfer of their property at death. Making a will is the best way for you to make sure that it's you who decides who benefits from your estate when you die. You should review your will regularly, especially when your circumstances change, for example if you have children.

  • Windscreen cover

    Found in: Car Insurance

    Windscreen cover is breakage or damage insurance cover for your car's windscreen and windows.

  • Winter sports

    Found in: Travel Insurance

    You're covered while taking part in the following activities if you have chosen winter sports cover and it's shown on your policy schedule:
    skiing, snowboarding, big-foot skiing, cross-country skiing, glacier skiing, mono-skiing and snow blading. Off piste skiing is covered when you're skiing within the ski area boundaries of a recognised ski resort and following ski patrol guidelines.

    You aren't covered for:
    bobsleighing, heli skiing, luging, ski acrobatics, skidooing, ski flying, ski jumping, ski mountaineering, ski racing, ski randonee, ski stunting, ski touring, snow cat skiing, or snow mobiling.
    Snow mobiling and skidooing can be covered if you have chosen Adventure activities A and it's shown on your policy schedule.
    We won't provide cover for personal liability.

    Cover for winter sports is only available for people under the age of 65 years when the cover is taken out.

    For single trip cover:
    We'll only provide winter sports cover from the trip start date to the cover end date as shown on your policy schedule.

    For annual multi-trip cover:
    We'll cover winter sports for up to 15 days for the period from the cover start date to the cover end date unless you've chosen to extend this period to 31 days, and this is shown on your policy schedule.

  • Worldwide cover

    Found in: Travel Insurance

    See 'Area of Cover'

  • Write-off

    Found in: Car Insurance

    A vehicle may be written off because it's either not repairable or would cost more to repair than to replace.

  • You or your or the policyholder

    Found in: Car Insurance, Home Insurance, Pet Insurance, Travel Insurance, Life Insurance

    Please check the document of insurance specific to your type of insurance product (car, home, pet or travel) for definitions of these words. For life insurance check your policy or plan conditions.

  • Your car

    Found in: Car Insurance

    Your car is the insured vehicle (including its accessories and spare parts). This is shown on your schedule. Cover also applies to a trailer, caravan or broken down motor vehicle while they're attached to your car for towing.

  • Your representative

    Found in: Car Insurance, Home Insurance, Life Insurance

    Your representative is anyone acting with or on your authority.

LV=, County Gates, Bournemouth, BH1 2NF, UK