Buy to let & property owners insurance legal information
Legal information
LV='s commitment to you
What you need to know
Nationwide Building Society acts as an Introducer to Liverpool Victoria Insurance Company Limited (LVIC) for general buy to let & property owners insurance. Liverpool Victoria Insurance Company Limited (LVIC), registered in England No. 3232514, is authorised and regulated by the Financial Services Authority, register No. 202965. LVIC is a member of the ABI. Registered address: County Gates, Bournemouth, BH1 2NF. Tel: 01202 292333.
Nationwide Building Society is authorised and regulated by the Financial Services Authority for life assurance, pensions, unit trusts, insurance and regulated mortgages. Nationwide Building Society, Nationwide House, Pipers Way, Swindon SN38 1NW. You can check this on the FSA's Register by visiting the FSA's website http://www.fsa.gov.uk/ or by contacting the FSA on 0845 606 1234.
Liverpool Victoria Insurance Company Limited
Nationwide buy to let insurance is provided by Liverpool Victoria Insurance Company Limited (LV=). Founded in 1843, Liverpool Victoria, which also trades as LV=, shares the same values as Nationwide. As a mutual they have no shareholders and are able to invest their profits in making their products competitive and delivering outstanding customer service.
Their claims service also goes the extra mile. Committed to doing the right thing for you, LV= will aim to settle claims quickly, even in the most difficult circumstances.
If you would like to learn more about LV= please visit www.LV.com.
We will make sure all the information we give you will be clear and accurate.
We will be fair and reasonable whenever you need the protection of this policy.
We will act promptly to provide the protection you need.
Any problems
If you have a complaint about any aspect of the service you receive from LV= please phone them quoting your reference number.
Alternatively you can write to them at:
Box 2, County Gates, Bournemouth, BH1 2NF
When contacting them please ensure you quote your policy or claim number as appropriate.
Whilst LV= will make every effort to maintain these standards, they recognise that there may be some occasions when they fail to satisfy the particular requirements of their customers. They therefore have in place procedures to investigate and remedy any area of concern.
In such circumstances:
- LV= promise to acknowledge any formal complaint in 5 days or less.
- They promise to have the issues reviewed by a person of appropriate seniority and authority.
- They will endeavour to provide a full and final response to your concern or complaint within 56 days. If for any reason this is not possible, LV= will write to you to explain why they have been unable to finalise the matter quickly.
They will also include your Financial Ombudsman rights which explains what you should do if you remain unhappy with their response.
Financial Ombudsman Service
If you are still unhappy following receipt of the final response letter, you can refer the dispute to the Financial Ombudsman Service who will review your case on an independent basis. Their address is:
The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London
E14 9SR
Tel: 0845 080 1800
Financial Services Compensation Scheme
Liverpool Victoria Insurance Company Limited (LVIC), is covered by the Financial Services Compensation Scheme (FSCS). This means that you may be entitled to compensation from the scheme if they cannot meet their obligations.
Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.
Further information about compensation is available from the FSCS at www.fscs.org.uk or telephone 0207 892 7300.
If you take any of the action mentioned above, it will not affect your right to take legal action.
Unless LV= agree with you to apply the laws of another country, English law will apply to this contract (unless you live in Guernsey or Jersey, when Guernsey or Jersey law will apply). All communications will be in English.
LV= will not provide you with any advice or recommendation as to the suitability of the insurance products on this website, so that you can make your own informed decision.
Always give accurate information
It is essential you provide accurate information and tell LV= about anything that might affect your application. If you don't, they may not be able to pay any claims you make.
Always check to see if you are covered elsewhere
Please note that you are not able to make the same claim twice, even if you've been paying for duplicate cover.
Regularly review your insurance needs
Your circumstances may change over time. Remember to regularly review your insurance needs including your level of cover and tell LV= of any changes you want to make. Your premiums may increase if you require additional cover, so you may need to take your other financial commitments into account.
Make sure you understand what you're getting
Please ensure that this policy is right for you and that you understand what is and is not covered. If you make a claim that is not covered or is excluded by your insurance, LV= won't be able to pay your claim or refund your premiums. So if there's anything you don't fully understand, please ask them to explain it to you before you go ahead. That's what they're there for.