London Range Rover proving difficult to insure
In 2022, over 5,200 Range Rovers were stolen, making them the second most stolen car in the UK. A great many of them were stolen in London, and faced with an ever-increasing number of claims, many insurers either stopped insuring them or increased premiums significantly.
Due to high premiums and a need for firms willing to insure them, owners of London-based Range Rovers are experiencing real difficulties in finding cover or facing exorbitant premiums.
One London-based car owner, looking to insure his inbound Range Rover P440e Autobiography, ordered 12 months ago, found his current insurer was unwilling to insure it, and another quoted him £6,000. A spokesperson for one London-based broker mentioned an insurance quote of £38,000 for a Range Rover worth £50,000.
This is because of Range Rovers’ popularity with thieves, who find them a very profitable target. It’s not particularly an issue of security, as thieves will invest in the necessary technology to steal them, but rather their popularity at home and abroad and the fact they can be disposed of quickly and easily and for a reasonable price.
Jaguar Land Rover says they take the issue of vehicle theft seriously and are aware of ‘the impact this criminality is having on the availability of insurance options’ for some clients. They are proactively engaging with stakeholders, including insurance providers, to show the improved vehicle security and measures to counteract this activity and say that while they have currently ceased offering insurance for their models, they are preparing to launch ‘an exciting new insurance proposition’.
Talk to Us
We understand that the market for insuring Range Rovers is very difficult, particularly in London, and that even with adequate security, some insurers are refusing to offer insurance. However, with additional security measures, it may be possible to find a market, although in some cases, it may be with a higher premium. Security measures to consider include a Cat S5 or S7 Tracker, off road and gated parking, app controlled remote security and a Faraday Box, which blocks the signal from your keys, making your keyless car more resistant to the possibility of theft.
If you’re looking to insure your Range Rover, let’s discuss your options, and we will do all we can to find the right level of cover; after all, our business is your protection.
T: 01992 703 000
E: insurance@mcdonaghs.co.uk
Written by James McDonagh ACII
Click here to learn more about James within the Key People section on our about page.