London Range Rover proving difficult to insure
Did you know Range Rovers were the most stolen car in 2022? Many of these were stolen in and around London. Now, as a result of 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 that they can be disposed of quickly, easily, and reasonably.
Jaguar Land Rover (JLR) 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 NLIG
We understand that the market for insuring Range Rovers is challenging, particularly in London. Even with the right level of security in place, some insurers are refusing to offer insurance. 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, especially if you’re London-based, it’s certainly worth utilising some of these additional security measures to help reduce your risk. Call us, and we can chat through your options. We‘ll do all we can to find a market for you.
Please either call us on 01992 703300, or email us: insurance@nlig.co.uk
Our business is your protection.
Written by James McDonagh ACII
Click here to learn more about James within the Key People section on our about page.