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Range Rovers Are Painful To Insure In London Due To High Theft Risk

Land Rover Range Rover owners in London are having a hard time with their vehicles – not because of a problem with their SUVs per se. Apparently, Range Rovers have become increasingly difficult and expensive to insure in the said city in the UK.

In a report by Autocar, the Range Rover is the second most stolen vehicle in the UK in 2022, which saw many insurers hit by claims. This resulted in the current problem – a significant increase in premiums for the specific vehicle, and many insurance companies no longer offering to insure the vehicle altogether. Owners of Range Rovers are now struggling to find a reasonable insurance policy for their vehicles, even from Land Rover itself.

Autocar cited a case from one of its readers. Dan Adler, an investment specialist who lives in North London, said that his current insurer is “unwilling to insure the new Range Rover, while another would charge an additional £6,000 ($7,167) for it, taking my total premium to £11,000 ($13,139).”

Meanwhile, brokers are singing the same tune. Samuel Cise, director of Saxon Insurance, told Autocar that for two London-registered Range Rovers, he was quoted a staggering £20,000 ($23,889) insurance premium for one car, while for another car worth £50,000 ($59,723), he was quoted £38,000 ($45,389). 

Neil Thomas, director of investigation services at AX, a vehicle tracking company, has explained to Autocar that Range Rovers are profitable targets for thieves. He told the publication, “The problem for Range Rovers is not their security; instead, it’s their huge popularity here and abroad. A thief knows they can dispose of one very easily and for a good price, so will invest in the technology they need to steal them.”

Jaguar Land Rover, however, has recognized the issue and told Autocar that it takes vehicle theft very seriously. The company is working proactively with insurance providers and other relevant stakeholders to improve vehicle security measures and prevent such activities.

Read the full article here

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