From Thursday 29th April 2021 the Legal & General Rainbow Home and Landlord Insurance products on our panel will be replaced by new LV= Broker products.
This is due to the acquisition of Fairmead Insurance Ltd (formerly L&G) by LV=’s parent company, Allianz (read more here).
The new LV=Broker Rainbow Home Insurance product will be similarly priced to L&G Rainbow Home Insurance with a few enhancements.
We have created a quick comparison table so you can see the difference between the two products.
|
Legal & General |
LV= Broker |
|
|
Buildings sum insured limits |
Bedroom rated £800,000 |
Bedroom rated £1,000,000 |
|
Loss of rent and alternative accommodation |
£50,000 |
£200,000 |
|
Trace and access (costs involved in tracing a leak) |
£5,000 |
£10,000 |
|
Contents sum insured limits |
£50,000 |
£100,000 |
|
Escape of Water Excess (Minimum) |
£250 |
£250 |
|
Valuables Limit |
33% of the Contents Sum Insured or £14,000 whichever is higher |
40% of Contents Sum Insured (£20,000 limit for specified valuables) |
|
SAL (Single Article Limit)
|
5% of the contents sum insured or £2,000 whichever is higher |
£5,000 |
|
Contents in Garages |
£6,000 |
£10,000 |
|
Pedal cycles (within the home) |
Covered under contents. |
Covered under contents. |
What about existing L&G Rainbow Home / Landlord quotes?
As instructed by the insurer, any existing L&G quotes will only be valid up until Wednesday 30th June 2021.
Any L&G quotes outstanding after this date will be automatically removed from your account and you will need to requote to the new product.
Requoting is quick and easy and should take less than 30 seconds.
If you do have any questions, please contact our Broker Support Team on 02920 265 265 or your Regional Sales Manager.
