Why are LV's new insurance deals substantially less than my LV renewal premium?

In your column of Sat 26 May you asked how much longer Liverpool Victoria would remain so cheap and friendly. The answer is, not long. After being a customer for many years, last year they quoted me £688 for my Mondeo. I went onto a price comparison site that came up with a quote of £382 from, guess who? Why LV of course.

LV’s excuse was that this was a new policy and they were not obliged to inform me or offer the lower figure, but they did, subsequently, offer me the revised policy. This year they have quoted £400 but the best price I can get from a comparison site is £198. Wonderful pricing and service. The message is clear; check for the best deal every year and do not assume your current insurer will do its best to give you a good deal.

Asked on 8 April 2012 by JP, Huntingdon

Answered by Honest John

Speaks for itself. But you need to check very carefully indeed that the £198 policy is on the same basis and gives you the same cover as the £400 policy. So far, other readers remain happier with LV than with any other motor insurer. LV is a Mutual rather than owned by Private Equity Fund investors. But then, so was Equitable Life.

Tags: premiums insurance

Similar questions

Why has my car insurance renewal increased so much?

I have just had my renewal quote from LV. Last year it was £229, now they want £380, a 65% increase! How is this justified? I have not changed my car, increased my mileage, received any points, had any...

Can my wife drive my car even if I remove her as a named driver?

I'm thinking of changing my insurance policy by taking my wife off the policy as a named driver as it will be cheaper. If I let her drive the car with my permission, is that legal insurance wise, and if...

We've been told our insurance has gone up in our area because an identical car was stolen - is this right?

My daughter has just been told (by a mainstream and well-known insurer) that her premiums have just gone up because an identical car in the same postcode was stolen, therefore the premiums go up. Of course...