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Daily Insurance Industry News
Thursday 26th of April 2018
December 2, 2008

Nationwide expands insurance offering with LV=

by Gill Montia

Story link: Nationwide expands insurance offering with LV=

Nationwide expands insurance offering with LV=

Friendly society, Liverpool Victoria, is providing a new range of insurance products to Nationwide customers, under its LV= brand.

Members of the UK’s biggest building society are now able to arrange car, small business and buy-to-let and property owners’ insurance, through the joint venture.

Nationwide believes the partnership, which was formed in June of this year, will allow it to expand further in the insurance market, stressing that as both businesses are mutuals, owned by their members, customers’ needs will come first.

The new small business offering provides up to £100,000 of legal expenses cover for any one claim; up to £1,000 cover for theft of keys and lock replacement; up to £5,000 cover for theft by employees; up to £500,000 cover for electrical or mechanical breakdown of equipment and a £10,000,000 limit of indemnity for employer’s liability.

The key features of the buy-to-let and property owners’ insurance include up to £100,000 legal expenses cover for any one claim; cover for loss of rent; cost of alternative accommodation up to 20% of the buildings sum insured; property owner’s liability up to a standard limit indemnity of £2,000,000 and cover for multiple properties on the same policy.

Nationwide has also improved pricing on its travel insurance, with premiums starting at £6.76 for a seven day trip in the UK and £15.02 for a seven day trip in Europe.

 

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