Claims for accidental damage, bikes and thefts away from the home have all risen in 2022, according to new new data from LV= General Insurance [LV= GI].
Launching a new campaign titled ‘A little extra cover goes a long way’, the campaign is aimed at independent financial advisers, and designed to highlight the benefits of home insurance optional extras, to help ensure customers are protecting the things that are important to them.
Following analysis of its recent claims data, LV= GI identified that in 2022 68% of bicycle claims happened away from the home.
What’s more, thefts away from the home were up 54% and 26% of new claims reported were for accidental damage.
The average claim costs for accidental damage in 2022 was £1,300, with the average theft claim away from the home costing £1,400 and bicycle claims at £1,350.
With cover for items away from the home, protection for bicycles and accessories away from the home, and accidental damage offered as optional extras, the campaign will help advisors understand what their clients are covered for and where they might need extra insurance.
Advisers will be able to tailor a home insurance policy to cover their client’s specific needs, which in turn will help provide reassurance for unexpected events such as water damage, spills, lost items and theft.
Sarah Watts, head of intermediary at LV= General Insurance, said: “We’re committed to helping advisors provide insurance advice to their clients so that they have the best protection, but we understand that most of their time is taken up advising on mortgages.
“By providing the information to advisors on the simplicity and value of tailoring a home insurance policy, we hope this will help ensure their clients have the right insurance.
“Plus, our innovative SmartQuote technology makes obtaining a home insurance quote an easy and efficient process.”
