LV= General Insurance is launching a General Insurance Awareness month for IFAs, which will run during the month of October.
The new initiative, entitled ‘Bring it Home’, has been launched in order to help bring awareness to general insurance cover.
It hopes to bring general insurance into the conversation between advisers and their clients on a more regular basis – as with the significant rise in costs of materials for home repairs, as well as contents such as household furniture, there is a risk some homeowners could be underinsured if they haven’t recently updated their home insurance policies.
Sarah Watts, head of intermediary at LV=, said: “General insurance is a really important product as it ultimately helps protect the things you love – your home and possessions.
“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.”
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.
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 development team, to ensure clients are adequately covered.
As part of the initiative, the company has also pledged to donate £5 to charity partner Family Action for any home insurance policies sold with IFAs in the month of October.
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.
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.
“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, added: “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.”
