Defaqto 5 Star home insurance
Find out why Defaqto have rated LV= as having 5 Star home insurance.
Some people believe that the best home insurance to get is the cheapest. However, this can prove to be a false economy, as when it comes to making a claim they might find that they’re not as well covered as they would have expected. For these people a better consideration might have been what buildings and contents cover they were getting for their money, and a Defaqto 5 Star Rating places a product at the top end of the market - a good sign that a product offers some of the best quality cover in the market.
Highest Defaqto rating for home insurance
We're proud that we’ve achieved a Defaqto 5 Star home insurance rating for LV= home insurance, which is the highest rating that Defaqto can rate an insurance product. Defaqto, the independent financial research company, describes a 5 Star home insurance product as 'excellent', compared to 1 star as 'simple'.
For the fifth year in a row, independent financial research company Defaqto has recognised LV= home insurance as 5 Star rated, for the features, benefits and overall level of cover that it contains either as standard or optional extras.
What features and benefits are measured by Defaqto?
Defaqto assess 74 different criteria when rating home insurance, and to get a 5 Star Rating you have to perform highly in most of these categories.
These categories include:
- cover options available
- level of cover provided for each feature
- additional features such as seasonal increases
- services available such as legal helplines
- excess fees and charges
Defaqto assess both buildings insurance and contents insurance separately, as these type of products can be bought individually or together, and should be assessed on their own individual merits.
LV= home insurance has an excellent range of cover such as alternative accommodation, legal expenses and contents in the garden.
There are a number of ‘core criteria’ that products must provide if they want to receive a 5 Star Rating.
Those highlighted below with an asterisk (*) are areas where products must provide high levels of cover as detailed below.
In addition, to be considered for a 5 Star Rating, products have to provide at least some cover for all of the following areas:
Contents
- Sum Insured Protection
- Contents Accidental Damage
- Money in the Home
- Contents in the Open
- Theft from Outbuildings*
- Alternative Accommodation
- Loss of Water
- Freezer Contents
- Personal Liability*
- Employers Liability
- Personal Possessions
- Money and Credit Card Cover
Buildings
- Alternative Accommodation *
- Glass Breakage
- Burst Pipes
- Underground Services
- Public Liability *
- Defective Premises
- Emergency Repairs
Bookmark with:
What are these?