★ TL;DR
TL;DR: Liverpool Victoria Insurance Company Limited, trading as LV= (FRN 202965), is an FCA-authorised motor insurer founded in 1843, now operating as an Allianz Holdings plc subsidiary following the 2021 acquisition. UK average premiums are £622 (ABI Q4 2025). LV= Comprehensive holds a Defaqto 5-Star rating and is one of the most comprehensively specified direct-channel products in the UK market. This review covers FCA registration, all cover tiers, every standard inclusion and paid add-on, pricing by age band, and a named three-way comparison against Aviva and Admiral.
Last reviewed: 25 April 2026
LV= Insurance: FCA registration and group structure
Liverpool Victoria Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority under Firm Reference Number 202965. Confirm current status at the FCA Register. LV= was founded in 1843 as a friendly society and is among the oldest insurance brands still trading under a recognisable name in the UK. In 2021, Allianz Holdings plc completed its acquisition of the LV= general insurance division. The life and pensions arm retained separate mutual status. Motor and home insurance now operate as an Allianz subsidiary while continuing to trade under the LV= consumer brand.
This structure matters to policyholders for two reasons. First, LV= motor insurance is backed by Allianz's capital base -- one of the largest in global insurance, with Allianz SE holding strong credit ratings from Standard and Poor's. Second, the named entity on the FCA Register and on every policy schedule remains Liverpool Victoria Insurance Company Limited (FRN 202965). This is the entity whose FCA permissions govern the contract and whose authorisation you should verify at register.fca.org.uk before buying a policy. The two facts -- Allianz backing and FRN 202965 -- should both be confirmed, not assumed.
The UK motor market includes approximately 110 FCA-authorised motor insurers (FCA Register 2026). Total UK motor policies in force are approximately 30 million (ABI 2025). LV= sits among the top ten providers by gross written premium for private motor, with particular strength in the over-50s and mid-market segments.
Cover tiers: Third Party Only, TPFT, and Comprehensive explained
LV= structures its private motor products across three tiers.
Third Party Only meets the Road Traffic Act 1988, section 143 legal minimum. Every vehicle driven on a UK public road must carry at least this level of cover. The fixed penalty for driving without any insurance is £300 and six penalty points (gov.uk). Police can also seize and destroy an uninsured vehicle without a court order under powers available through the Police Reform Act 2002 -- a power exercised routinely through Operation Tutelage, the national uninsured driving enforcement programme coordinated by the Motor Insurers' Bureau.
Third Party Fire and Theft adds protections if the policyholder's own vehicle is stolen, or damaged or destroyed by fire. It does not cover the policyholder's own vehicle for accidental damage caused in a collision or other incident. This tier is most suitable for older vehicles whose market value makes Comprehensive cover economically disproportionate relative to the potential repair or replacement payout.
LV= Comprehensive covers accidental damage to the insured vehicle in addition to all Third Party Fire and Theft protections. Standard inclusions: windscreen chip repair at zero excess, full windscreen replacement subject to the stated excess, EU driving cover for up to 90 days, personal accident cover of £5,000 for the policyholder and spouse or partner, manufacturer-fitted in-car audio equipment, new car replacement if the vehicle is written off within the first 12 months and has covered under 60,000 miles, and 24-hour claims line access. These are all standard in the base Comprehensive premium without any additional selection.
LV= does not operate a named Platinum or Plus tier in the way that Admiral Platinum or Direct Line DL Plus bundle premium add-ons into a single named product. Instead, LV= offers an add-on bundle that can be attached to Comprehensive for motor legal protection and a guaranteed hire car.
LV= premiums: UK market positioning by age band
The UK market average premium fell to £622 in Q4 2025 -- a 16 percent reduction from the 2024 peak of £741 (ABI 2025). This is the fastest recorded annual fall in ABI premium tracking. LV='s pricing sits in the mid-to-upper range of the market. For a 42-year-old driver in Leeds with a Volkswagen Golf in insurance group 16, five years of no-claims discount, and 9,000 annual miles, LV= Comprehensive prices above the cheapest aggregator result but below the premium tier occupied by specialist niche providers.
For drivers aged 17-20, the UK average is £1,539 (ABI 2025). LV= does not offer a telematics product, so it will not compete with Hastings YouDrive or young-driver specialist brands for this age group. The cheapest age band nationally is 50-65, averaging £393 (ABI 2025). BIBA-registered independent brokers frequently cite LV= alongside Saga and RIAS when recommending motor insurance to clients aged 50 and above -- a reflection of LV='s competitive pricing and service quality in this demographic.
Insurance Premium Tax at 12 percent (HMRC, gov.uk) is embedded in all quoted premiums. On a £622 average premium, IPT represents approximately £67. This is not an additional charge on top of the headline figure -- it is already included in the price a consumer sees.
LV= standard inclusions versus paid add-ons: the full breakdown
Included as standard on LV= Comprehensive: windscreen chip repair at zero excess, full windscreen replacement with excess, EU driving cover for 90 days, personal accident of £5,000 for the policyholder and spouse or partner, OEM in-car audio equipment, new car replacement within 12 months and under 60,000 miles if the vehicle is declared a total loss, and 24-hour claims line.
Not included as standard -- available as paid add-ons: motor legal protection up to £100,000, breakdown cover, key cover, a guaranteed hire car during repair, and protected no-claims discount.
The new car replacement inclusion deserves specific attention. In a total-loss claim on a recently purchased vehicle, an insurer's standard market value payout may fall below the original purchase price because the insurer's valuation accounts for depreciation -- including the significant drop that occurs the moment a new car leaves the showroom. LV='s new car replacement feature eliminates this shortfall entirely for the first 12 months and up to 60,000 miles. Some competitors restrict this to the first few months of ownership or to enhanced-tier products. LV= includes it as standard in the base Comprehensive without restriction beyond the 12-month and mileage limits.
Motor legal protection covers legal costs for pursuing uninsured losses not recovered by the insurance policy itself: loss of earnings after a non-fault accident, recovery of the policy excess from a liable third party, or funding personal injury claims where the other driver is at fault. The ARAG-underwritten motor legal product used by LV= provides up to £100,000 in legal cost cover and is available as a paid add-on to the Comprehensive tier.
Protected no-claims discount is also available as a paid add-on. At five or more years of NCD, protection typically allows two fault claims within a defined period without the policyholder losing their accumulated NCD entitlement.
For context on how add-on stacks affect the total annual cost of cover, see our cheapest car insurance guide 2026.
Pros and cons
| ✓ Pros | ✗ Cons |
|---|---|
✓ LV= Comprehensive carries a Defaqto 5-Star rating -- the highest available. Defaqto assessments are based on the breadth and quality of the policy wording relative to the full UK motor insurance market, independent of premium price. A 5-Star rating means the product sits at the highest benchmark for cover features in its category. This is a third-party independent quality indicator that aggregator comparison searches typically do not surface, making it a valuable cross-check when comparing similarly priced products from different providers. ✓ The Allianz parent group provides financial strength that underpins the capacity to pay claims. For consumers who weight insurer financial security alongside premium price -- a factor BIBA notes is underweighted by pure price-comparison buyers -- LV='s Allianz backing is a meaningful differentiator versus smaller or less-capitalised direct insurers. ✓ LV='s approved repairer network carries workmanship guarantees on repairs completed through its network. The 24-hour in-house claims line, as opposed to outsourced claims handling, is associated by BIBA with more consistent service and faster resolution on straightforward claims. ✓ New car replacement as a standard inclusion is a coverage feature that prevents the most common financial shortfall in a year-one total-loss claim. This is included without requiring an enhanced tier or a premium add-on. | ✗ LV= does not offer telematics motor insurance. Approximately 1.5 million UK drivers hold telematics policies (BIBA 2025). LV= is completely absent from this segment. For any driver aged 17-25 considering a usage-based policy, LV= cannot compete with Hastings YouDrive, Marmalade, or specialist young-driver telematics brands. ✗ There is no multi-car discount equivalent to Admiral MultiCover. For households with two or more vehicles, Admiral's household discount scheme is a structural pricing advantage that LV= cannot match on a like-for-like basis. ✗ The add-on assembly requirement -- selecting motor legal protection, guaranteed hire car, and breakdown cover individually rather than choosing a named bundled tier -- adds purchasing friction and creates a risk that consumers will under-specify their cover if they do not review each add-on option carefully. |
LV= vs Aviva vs Admiral: named three-way comparison
| Feature | LV= | Aviva | Admiral |
|---|---|---|---|
| FRN | 202965 | 202153 | 148028 |
| Parent group | Allianz Holdings plc | Aviva plc | Admiral Group plc |
| Defaqto 5-Star Comprehensive | Yes | Yes | Yes |
| New car replacement standard | Yes -- 12m / 60k miles | Yes | Yes |
| Telematics product | No | No | No |
| Multi-car discount | No | No | Yes -- MultiCover |
| Motor legal (standard) | No -- add-on | Comp Plus tier only | Platinum tier only |
| Guaranteed hire car (standard) | No -- add-on | Comp Plus tier only | No |
| Breakdown cover | Paid add-on | RAC -- paid add-on | Paid add-on |
| Over-50s competitive | Yes -- BIBA cited | Moderate | Yes |
Source: published policy documents and FCA Register, verified April 2026. Actual premium pricing varies by individual risk profile; obtain individual quotes to confirm current pricing.
Key Figures
| Metric | Value | Source | Date |
|---|---|---|---|
| LV= FRN | 202965 | FCA Register | 2026 |
| LV= founding year | 1843 | Company records | 2026 |
| Allianz acquisition of LV= GI | 2021 | Companies House | 2026 |
| UK avg premium Q4 2025 | £622 | ABI | Q4 2025 |
| 2024 peak premium | £741 | ABI | 2025 |
| YoY premium fall | 16% | ABI | Q4 2025 |
| Avg 17-20 yr-old premium | £1,539 | ABI | 2025 |
| Avg 50-65 yr-old premium | £393 | ABI | 2025 |
| UK telematics policy holders | ~1.5 million | BIBA | 2025 |
| IPT standard rate | 12% | HMRC / gov.uk | 2026 |
| Total UK motor policies | ~30 million | ABI | 2025 |
| Total UK motor claims paid 2024 | £11.1bn | ABI | 2025 |
✓ Editorial Process
How we verified this
The Kael Tripton editorial team confirmed LV= Insurance's FCA status via register.fca.org.uk (FRN 202965). The Allianz acquisition date was verified against Companies House records. Cover details reference LV='s published policy summary and schedule of cover documents as of April 2026. Premium benchmarks reference ABI Q4 2025 published data. Defaqto star rating confirmed via defaqto.com. Last fact-checked 25 April 2026.
Frequently asked questions
Is LV= still a mutual insurance company?
The LV= general insurance business -- including motor -- is no longer mutual. Allianz Holdings plc completed the acquisition of the LV= general insurance division in 2021. The life and pensions arm retained a separate mutual structure. Motor policyholders are now covered under Liverpool Victoria Insurance Company Limited as an Allianz subsidiary (FRN 202965).
What is LV='s FCA Firm Reference Number?
Liverpool Victoria Insurance Company Limited, trading as LV=, holds FRN 202965. Verify current authorisation status at register.fca.org.uk before purchasing any policy.
Does LV= offer telematics car insurance?
LV= does not offer a telematics motor product as of April 2026. Drivers aged 17-25 seeking usage-based pricing should consider providers with active black-box or app-based telematics programmes such as Hastings YouDrive or specialist young-driver insurers.
What is included in LV= Comprehensive as standard?
LV= Comprehensive includes windscreen chip repair at zero excess, full windscreen replacement with excess applied, EU driving cover for 90 days, personal accident up to £5,000, new car replacement within 12 months and under 60,000 miles, OEM in-car audio, and 24-hour claims access as standard. Motor legal protection and a guaranteed hire car require a paid add-on.
Is LV= a good choice for drivers aged 50 and above?
LV= is consistently recommended by BIBA-registered independent brokers for drivers aged 50 and above. The national average for the 50-65 age band is £393 (ABI 2025). LV= is among the providers that compete effectively in this range, alongside Saga and RIAS.
Sources and Verification
- FCA Register -- Liverpool Victoria Insurance Company Limited (FRN 202965): https://register.fca.org.uk
- ABI Motor Insurance Premium Tracker Q4 2025: https://www.abi.org.uk
- BIBA Motor Insurance Guidance: https://www.biba.org.uk
- HMRC Insurance Premium Tax: https://www.gov.uk/guidance/insurance-premium-tax
- Road Traffic Act 1988 section 143: https://www.legislation.gov.uk/ukpga/1988/52
- gov.uk -- Penalties for driving uninsured: https://www.gov.uk/vehicle-insurance/penalties
This article is for informational purposes only and does not constitute financial advice. Always verify rates with official sources before making any financial decision.
