LV Home Insurance not renewing

Traveller37 Posts: 43
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edited 31 January at 5:03PM in Insurance & life assurance
Had an email from LV saying that they will not be renewing our home insurance (buildings and contents).  I rang to ask why and they said it is because they have changed their underwriting rules, our insurance has not been refused, and we don’t have to declare it to another company if we're getting a quote.   They said they work closely with a broker, Arthur Gallagher Insurance Brokers Ltd, who will send us a renewal quote unless we decline it before February 13th.

We have been with them since 2022, when they bought Legal & General who had been our insurers for many years.

Any advice or comments would be welcome. 


  • Brie
    Brie Posts: 9,298
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    Sounds simply that they don't want you as a customer.  Whether it's you or the area is impossible to say.  But they will have their own agenda on how they think that can remain profitable.  So if your place is on a flood plain and they think the odds are they'll have to pay out this years then that's a possible.  Or that your family is too big and therefore more likely to damage something.

    I'm assuming you have tried getting quotes for go compare or similar rather than just waiting for a quote to be posted from someone you've never dealt with previously.
    "Never retract, never explain, never apologise; get things done and let them howl.”
  • DullGreyGuy
    DullGreyGuy Posts: 9,158
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    Both L&G and LV's general insurance arms were bought by Allianz at the same time in 2019, they'd bought a large stake in LV the year before. They rolled L&G into LV having only gotten rights to the brand for 3 years. 

    Insurers have been making notable underwriting losses in the last couple of years and so its no surprise that companies are reviewing their underwriting criteria to try and focus on more profitable business, time will tell if their decisions are right or wrong.

    As they've said in most cases a decline to quote is not something you have to declare so you are free to shop around in the same way as you did when you first chose L&G. Note that some do ask if anyone has ever declined to offer you renewal terms, if you come across someone asking this question you would technically have to say yes. 

    Its not anything personal, no matter who you are there will be some insurers not interested in you because your too young (saga), you drive too expensive a car (admiral) etc. 
  • gally1866
    gally1866 Posts: 5
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    Lv have just put my renewal up 50% after a claim free year so I’m going to looking elsewhere 
  • Traveller37
    Traveller37 Posts: 43
    First Post First Anniversary Combo Breaker
    Thank you for the comments. Of course I intend to do a thorough search for another insurer as well as see what LV's broker comes up with. 
  • SJM007
    SJM007 Posts: 11
    First Post Combo Breaker First Anniversary
    Hi does anyone have contact details at LV for sorting this out my buildings insurance wasn't renewed due to a "Rating" issue however I wasn't advised so have been without insurance for a while! Very worrying.
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