To cancel an LV car insurance policy, you will need to follow these steps:
- Contact LV: You can cancel your LV car insurance by contacting their team via their live chat. Alternatively, you can contact them via email at cancellations@lv.com. You can expect a reply to your email within 2 working days. Make sure to include the following points within your email.
- Provide Information: You will need to provide your policy number and personal information to identify your policy.
- Reason for Cancellation: You will be asked for the reason for canceling your policy. This information is important for LV to improve its services.
- Canceling Date: You can choose to cancel your policy immediately or on a future date.
- Payment: LV will calculate any refunds owed to you based on the number of days left on your policy, and any fees or charges applicable. Depending on how you paid for your policy, the refund may take a few days to be processed.
It is important to note that canceling your policy before the end of your policy term may result in cancellation fees and charges. Additionally, canceling your policy may affect your ability to get car insurance in the future, as insurance companies take into account a policyholder’s cancellation history when calculating insurance premiums.
LV Insurance Cancelation Fees:
According to LV’s website, if you want to cancel your car insurance policy after the first 14 days of buying or renewing the policy, LV will charge a cancellation fee of £40, in addition to any amount owed for the time you have been insured with them.
Additionally, if you make certain changes to your policy, such as changing your vehicle, adding or removing a driver, or removing a car from your Multi Car insurance, LV will charge a £15 admin fee.