Paradigm Protect has added the LV= to its general insurance panel.
Members of Paradigm Protect, which is part of Paradigm Mortgage Services, are now able to access a range of LV= products, including its building and contents insurance and landlords insurance.
LV= also offers a ‘SmartQuote’ tool allowing advisers to provide a home insurance quote in minutes. It works by combining data points from various public sources to generate a quote, cutting down on the number of questions advisers need to ask, making the process quicker and reducing the non-disclosure risk.
The insurer offers two buildings and contents insurance products – platinum and gold, which provide cover up to £1.5m for rebuilding costs. Accidental damage cover is included as standard with platinum and customers can choose between £80k or £150k of contents cover.
Its Landlord Insurance product provides buildings and contents cover for rental properties, with optional extras such as home emergency cover and legal expenses.
Paradigm head of protection Mike Allison says: “This range of GI products from LV= has only recently become available to advisers and we are therefore pleased to be able to add it to our panel so member firms can access it on behalf of their clients.”
He says clients are sometimes left to their own devices when it comes to general insurance and as a result can be left with inadequate cover that does not suit their circumstances.
Allison adds: “Advisers can ensure this doesn’t happen by including GI as part of their full advice proposition and by doing so, not only do they ensure their clients have the right cover, but they can also develop a potentially valuable income stream for many years to come.
He adds: “The FCA has recently highlighted the need for advisers to distribute suitable and ‘fair value’ products. It wants to see a market where customers are appropriately supported in purchasing the correct insurance products for their needs and also when they come to make a claim. The new Consumer Duty rules will drive further focus on to distributing all GI products and we want to ensure we offer the best possible support in doing so.”
