Yes, you are covered for damage caused by a water leak.
LV= buildings insurance covers damage caused to your home by water leaking from any fixed tank, appliance or pipe. For Home we'll also pay up to £5,000 or £10,000 on Home Plus (no cover is provided on Essentials) for the cost of removing and replacing any part of the structure of your home to find the source of a water leak so repairs can be carried out.
Your belongings are covered too. LV= contents insurance covers damage caused to your personal items, such as sofas and carpets, by a leak from a fixed tank, appliance or pipe.
You can find full details of what's covered in your policy documents.
If you can't find your LV= insurance documents:
Just log in or register for an online account plus download the Alexa Skill or Google Action to make fact-finding easier.