UK car insurer LV= has offered refunds of between £20 and £50 to customers impacted by the ongoing Covid-19 pandemic.

 

The move follows the decision of insurer Admiral to provide £25 refunds to its customers.

 

However, while Admiral's refund is for all customers regardless of their situation, the LV= refund is only available to those who can prove they have been negatively impacted by Covid-19.

 

 

To get the refund, LV= customers must fall into one of these three categories:

 

  • You must have been made unemployed at some point since March 01, 2020. Or…
  • You must have been furloughed but haven’t received money via the Coronavirus Job Retention Scheme. Or…
  • You must be self-employed and unable to work or trade due to COVID-19 and haven’t yet received money through the Self-employment Income Support Scheme.

 

LV= CEO Steve Treloar said, “We spent a lot of time thinking about the best way to help customers and this enables us to give between £20 and £50, which to some families will make a real difference. In taking this approach, we can do more for those who need help the most.”   

 

However, LV='s approach to handing out the refund has been criticised by some.

 

Miles CEO James Blackham said, “While Admiral gave an automatic £25 refund to all customers, LV is only offering refunds of between £20 - £50, but only to those who can prove they are financially worse off due to coronavirus. And they’re making policyholders do the leg work - asking drivers to contact them directly to apply for a rebate."

 

Blackman added, "Those who are driving less, you should pay less. It’s as simple as that."

 

LV= is also keen to point out that customers can temporarily change the level of cover they have, such as to fire and theft (if they do not plan on using their vehicle in the coming weeks).