Range Rover owners have been blighted by an increase in thefts – a factor which has forced many insurers to up their premiums – or not offer any cover at all.
Range Rovers and electric cars have seen massive insurance price rises in recent months with some owners turning to Jaguar Land Rover itself – after the company announced it was offering its own insurance package amid a surge in on-street thefts.
The luxury and sought after vehicles are regularly branded as one of the most stolen cars in the UK – and reports have recently claimed they are “virtually uninsurable.”
The issue seems to centre on vehicles manufactured from 2022, which is when the vehicles contain the most “advanced electrical architecture” – which includes the latest security features.
Express.co.uk tried to get insured on a Range Rover Sport and discovered that while it was possible to get insured for a steep premium it was only possible with one condition.
To put this “uninsurable” theory to the test, two Express reporters took to Compare the Market – a comparison website – to see which brands would take on the Range Rover Sport – and how much it would cost.
Three insurers, Admiral, Elephant, and Bell, provided quotes, with the cheapest being Bell who offered £2,017.74 per annum, while Elephant was slightly higher at £2,110.86.
It appears, however, that the devil really is in the detail. When one Express reporter confirmed the vehicle would be kept on the street, not outside their home, the search engine retrieved no quotes at all.
When this result came up, the Compare the Market website said: “Unfortunately, none of our insurers were able to provide you with a quote. This only happens for one in 200 customers.
“Please review your answers to make sure you’ve entered the correct details. Alternatively, you could try contacting a specialist broker such as A-Plan to see if they can help you find a quote.”
But when another reporter said theirs would be kept on a driveway, the high premiums came in which could mean insurers are dubious about insuring the Range Rover Sport if it’s not going to be kept close to the owner’s home.
Although the Express was able to find some insurers who cover the Range Rover, not everyone can, an issue reportedly starting to affect the company’s sales.
Speaking to the Telegraph, one lawyer said they gave up trying to insure a replacement Range Rover after his first one was stolen. He explained: “I told the police it was a V8 and they asked where I lived.
“When I said Westminster they weren’t surprised, they said it was probably in Nigeria by now. Neither was the insurance company which paid up the £70,000 value in six weeks without a question.”
The former owner added that when he eventually got a quote it was for £26,000. He later claimed the situation was developing into an “epidemic”.
Although Range Rover thefts are a problem for its parent company JLR, recent statistics have seen a significant drop in the number of the popular SUVs being stolen.
In a statement, a spokesperson for JLR said: “The desirability of our luxury vehicles, coupled with concerns around organised theft criminality, has led to challenges around insurance for some clients.
“We are addressing this with immediate measures including a £10 million investment in vehicle security; launching our new insurance offering; as well as working with the wider insurance sector to provide more insurance options for clients.
“As increased premiums unfortunately affect the whole insurance industry, Jaguar Insurance and Land Rover Insurance have provided more than 8,500 clients with an insurance solution, with an average monthly premium of less than £200. We are committed to expanding this to as many clients as possible as data and market conditions mature.”
