What's in this review?
Who is LV= Flow?
LV= Flow is a monthly car insurance policy from general insurer LV=.
LV= has a history that dates back to 1843 and has since grown to become a well-known insurance provider in the UK. It also offers a range of other insurance products such as an annual car policy, van, motorbike, life, pet, home and travel insurance.
Who underwrites LV= Flow car insurance?
LV= policies are underwritten by Liverpool Victoria Insurance Company Ltd.
The company is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
What makes it different?
The main thing that differentiates LV= Flow from most other car insurance policies is that it is a rolling monthly subscription, rather than an annual contract.
When you sign up, you get a maximum price every three months based on your current circumstances (more details on this below). The policy can be cancelled at any time with no cancellation fee.
What level of cover is available?
LV= Flow is only available as a comprehensive policy. If you need third party only or third party, fire and theft cover, you can get that through LV=’s annual car insurance.
We’ve compared the features of both options below:
|Feature||LV Flow||LV= annual car insurance|
|Price calculated||Guaranteed maximum price supplied every 3 months. All prices are based on your personal circumstances||Annually|
|Type of cover||Comprehensive||Comprehensive or third party fire and theft|
|Cover abroad||Third party (no cover for damage, fire or theft)||Comprehensive|
|Driving other cars cover||No||Yes|
|Use of car||Social, domestic and pleasure, and commuting to a single workplace||Social, domestic and pleasure, and commuting to a single workplace (can be extended to business use)|
|Motor add-ons||Guaranteed hire car (basic) and motor legal expenses||Guaranteed hire car (basic or extended), motor legal expenses, breakdown, increased personal accident cover and protected NCD|
|NCD (no claim discount)||No – we’ll give you the best possible price based on your personal circumstances||Yes|
|Protected no claim discount||Not available||Available|
|Amendment and cancellation fees||No||Yes||Manage your policy online||Yes, 24/7 access to your account for any amendments and cancellations||Not yet, just call LV= to make a change|
LV= Flow’s optional extras
LV= Flow offers two optional additions to your policy. They each cost £2 per month and you can choose to add just one, or both:
- Guaranteed hire car. Guarantees you a small basic hatchback hire car if your own car is being repaired by one of LV=’s recommended repairer services, or has been stolen or written off.
- Motor legal expenses. Protects you in case you need legal help to take action against a road user or defend against a motoring prosecution.
How much does LV= Flow cost?
The price of car insurance is based on a long list of personal factors, such as age, driving experience, the type of car you drive, where you live and even what you do for a living. So the exact premium you pay will be dependent on your details.
With LV= Flow, pricing works a little differently. When you take out a quote, you won’t be given a fixed monthly price, but a maximum price for the following three months, based on your current circumstances. This doesn’t mean you will pay that exact amount every month, but you won’t pay any more than that.
The LV= Flow website gives the following example: “Let’s break it down: you could potentially get £40 as your maximum monthly price, but in month two, as your personalised pricing can change, your price could drop to £35. In month three, your price might be £37, but it will never be more than your maximum £40.”
Your exact monthly price will be emailed to you every month and you’ll be able to view it in your online Flow account seven days before you pay, so there will be no surprises.
Every three months, you’ll get a new maximum amount. The good thing about having a rolling contract is that, if you don’t like the new price, you can cancel your policy with no cancellation fees.
What is the claims process for LV= Flow?
To make a claim for LV=’s car insurance, contact the company’s 24/7 claims line on 0800 032 2577 (+44 1689 898603 from abroad).
LV= recommends that you have the following details to hand before making a claim:
- Your registration number, policy number and any documents relating to the claim
- A crime reference number from the police if relevant
- Details of any other vehicles, people or property involved in the incident
To make a windscreen or glass claim, you need to contact LV=’s recommended windscreen repairer on 0800 169 9499.
LV= Flow customer reviews
As LV= has only recently launched LV= Flow, there are no customer reviews available for the service online yet.
However, LV=’s annual car insurance policy came 6th in Finder’s 2020 customer satisfaction awards, with 4 out of 5 stars and 82% of customers saying they would recommend the service.
Online customer reviews for LV= as a company are also positive. On review platform Trustpilot, LV= has 4.7 out of 5 stars and a rating of ‘Excellent’, based on more than 18,500 reviews. On Reviews.io, LV= has a rating of 3.35 out of 5, based on more than 200 reviews.
The helpful, quick service and ease of application are favourites with customers, but some complain of price hikes on renewal (updated 6 August 2020).
Pros and cons
- Monthly rolling subscription with no cancellation charge
- Manage your policy online 24/7
- No amendment fees
- No claims discount not available with this policy
- You are not covered to drive other cars
If you need comprehensive car insurance cover but don’t want to commit to an annual policy, LV= Flow is a great option.
With the ability to manage your policy online and make amendments and cancel with no fees, the flexibility on offer is one of the best around.
The main downside of this policy is that it does not allow for a no claims discount and, while LV= says it will provide customers who wish to switch to another insurer with a document demonstrating how many years of cover with no claims they have collected, there is no guarantee the new provider will accept this as proof.
The way the LV= Flow policy is priced can be a source of some confusion, but will appeal to those who value flexibility.
Frequently asked questions
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