- LV= General Insurance launches ‘Bring it Home’ month dedicated to talking about the importance of general insurance
- Company pledges to donate £5 to charity partner Family Action for home insurance policies sold with IFAs in the month of October
LV= General Insurance is launching a General Insurance Awareness month for IFAs, which will run during the month of October. The new initiative, named ‘Bring it Home’, has been launched to help bring general insurance into the conversation between advisers and their clients during mortgage and re-mortgage conversations on a more regular basis, which isn’t always covered.
Having the right level of cover is so important. With the significant rise in costs of materials for home repairs and rebuilds, as well as contents such as household furniture, there is a risk some homeowners could be underinsured if they haven’t recently checked and updated their home insurance policies. In addition, this summer LV= saw an increase in summer related claims, with costs totalling £1.2 million following the extreme heat and fire related incidents between 17-20 July and a rise of 205% in subsidence cases between June and July this year alone. As we head into the winter months, claims usually spike for perils such as burglary, storms and floods, which can see claims costs reaching as high as £30,000.
To help advisers with those all-important home insurance conversations, by signing up to ‘Bring it Home’ they’ll get access to sales aids, tools and webinars run by LV=’s dedicated learning and development team, to ensure clients are adequately covered for their home insurance needs.
As part of the initiative, LV= has also pledged to donate £5* to Family Action - the company’s charity partner - for every home insurance policy sold. The insurer is currently partnered with Family Action to raise awareness of their FamilyLine, the charity’s free and confidential service providing adult family members with support and guidance.
Sarah Watts, Head of Intermediary at LV= General Insurance comments: “General insurance is a really important product as it ultimately helps protect the things you love – your home and possessions. We know our partners and advisers have a vast amount of expertise which can make a real difference to help ensure clients have the level of cover they need come the unexpected. It’s about making sure clients have the right cover in place now, to help protect them from high unexpected costs in the future. Inflation and other factors mean it’s now far more expensive to replace items and repair properties, so checking that home contents or buildings insurance is correct is so crucial.”
Martin Reynolds Chief Executive Officer of SimplyBiz said: “This is a fantastic initiative and it’s great to see LV= supporting advisers and the intermediary market with home insurance resources and tools. Home insurance is an important product and talking to clients about their needs provides a great opportunity. Not only can advisers continue to build those all-important relationships and become a trusted expert on the mortgage front, but can check a client’s home insurance is up to date and ensure there is adequate cover in place.”
Jo Carrasco, Business Partnerships Director at Stonebridge said: “It’s great to see LV= launching a superb initiative, especially in this current environment. We need to support our advisers and help them build their confidence when they’re discussing general insurance. This will enable our advisers to continue building great relationships with their clients and give back to the community too.