Nationwide Building Society will offer its customers a new range of insurance as part of its partnership with mutual insurance and investment group LV=.
LV= is a trading style of Liverpool Victoria. LV= will manage sales, underwriting and administration of the policies, as well as new business marketing. LV= will also handle all quote and customer service calls from its UK based call centres. Existing Nationwide customers will be migrated to policies underwritten by Liverpool Victoria Insurance Company Limited at renewal.
The partnership between the two mutual organisations will help to strengthen Nationwide’s position within the insurance marketplace and provide its customers with a broader range of products at very competitive prices.
Around 20% of UK holidaymakers fail to take out travel insurance ahead of their trip. Without adequate travel insurance, holidaymakers put themselves at risk from extremely high medical costs if they need treatment overseas and financial loss if the holiday has to end abruptly or is cancelled. For example, a scheduled flight, stretcher and doctor escort from Australia can cost between £15,000 and £20,000, while an air ambulance from the East Coast of America could cost up to £45,000.
Nationwide Travel Insurance starts from as little as £6.76 for a seven-day trip in the UK and £15.02 for a seven-day trip in Europe. Key features of include:
Single trip cover lasting up to 366 days, or annual multi-trip cover insuring the policyholder for up to 90 days per trip
Cover for Europe and Worldwide
Pre-existing medical conditions may be covered
Cover for up to 10 people on one policy, suitable for families, couples and groups of friends
Cover available for people aged up to 79 years old
Cover for cancellation, delayed departure and curtailment
Travel insurance: News update: December 2008