How much does it cost to insure a Range Rover?

According to the DVLA, Range Rovers are one of the most stolen vehicles in the country – and this is forcing many insurers to review their premiums. We explore how much it costs to insure a Range Rover and your options if you’re struggling to find the right cover.

Jaguar Land Rover’s financial results cover more than its balance sheet.

Speaking to reporters, CEO Adrian Mardell was asked about a recent survey that called the Range Rover “Britain’s most stolen vehicle”. He responded by labeling these findings as “disinformation” and a “myth”.

“It is not ‘Britain’s most stolen vehicle’, as is incorrectly claimed,” he said.

The hit-back comes after the figures forced many insurers to overhaul their cover, prompting some Range Rover owners to issue an ultimatum. They either have to face a significant increase in premiums or sell up and switch to a new set of wheels.

That is, of course, if their insurer is even willing to provide coverage. So if you’re worried about insuring your Range Rover, we’ll explore:

Read more: Are car insurance rates going up?

We’re running out of options

Aadil and Fatima Nazir, a couple from Ilford, east London, were expecting an increase in the premium for their Range Rover Sport SVR. However, they told the Sunday Times they were shocked when their insurer called to say their vehicle was not insured.

Bought for £105,000 in 2020, the couple paid more than £3,780 for their insurance last year. This is already more than double the £1,436 premiums they paid in 2021.

Shortly after receiving the call, Aadil contacted several other service providers, including Land Rover’s insurance arm, to see if they would cover his car. They all refused.

Times subscribers can read more about Aadil and Fatima’s story here.

Why is my Range Rover insurance going up?

One of the reasons Range Rover owners like Aadil and Fatima Nazir find it difficult to insure their Range Rover is the high theft rate of this model.

According to data from the Driver and Vehicle Licensing Agency (DVLA) analyzed by Confused.com, one in every 100 Range Rovers was stolen in the 12 months to March 2023. For the Range Rover Velar R-Dynamic HSE D180 A, the company’s most stolen model when the edition came out, the number rises to two for every 100 vehicles.

That puts it ahead of Mercedes Benz and Ford, which took second and third place.

Last month, these figures were updated following a Freedom of Information request by the Daily Mail. It found that three of the five most stolen cars in the UK were Range Rover models, including the Velar and Sport.

In addition, Range Rovers are typically luxury vehicles. With some of the more expensive models costing almost £200,000, replacement parts don’t come cheap.

This also plays a role when insurers set their premiums.

“Technology adds a layer of complexity to claims with many cars now involving technical parts that can be more challenging to source and replace,” said David Pearce, retail director at insurance provider AXA UK.

Read more: Best car insurance providers

How much does it cost to insure a Range Rover?

According to Quotezone, a car insurance comparison system, comprehensive cover for the average Range Rover costs just over £2,570. This means a monthly premium of around £214.

That’s a figure that has declined in recent months after peaking in June.

Currently, the Range Rover Velar is the most expensive model to insure, attracting a typical premium of £3,470 a year. By comparison, last February insurance cost around £1,298.

However, these are only average figures. Your location also plays a significant role in determining your premium, with home addresses in cities such as London and Birmingham likely to cost more.

Money Mentor used our whole market comparison tool to find cover for a six-year-old Range Rover Vogue in North London, and only two providers were willing to offer insurance.

The quotes were based on a 40 year old with 20 years driving experience and no claims. In addition, the driver had to keep their vehicle in a safe driveway and pay an excess of £1,350 for each claim.

Both providers, insure2drive and GoGirl, quoted an average premium in the region of £27,560. The car itself reaches a value of around £40,000.

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Can I get insurance through Land Rover?

In response to these rising costs, Land Rover launched its own Range Rover insurance in October.

Since then it has generated over 17,000 quotes for its customers with an average monthly premium of less than £182. This is down from the average offer of £200 the insurance arm made in December.

However, not all of their clients receive this coverage – as is the case with Aadila and Fatima Nazir.

Read more: How to get cheap car insurance

Can I get lower insurance premiums?

Your address is just one factor that affects the price of your car insurance – albeit a significant one. Not only does it provide your insurer with data on crime rates in your area, but it also reports average claims, traffic population and driver behavior statistics.

According to Greg Wilson, CEO of Quotezone, it also plays a role in determining the price of your premium.

The comparison website’s own data showed that London is the most expensive part of the UK to insure your car, with an average premium of almost £855. In comparison, the more rural south west of England, which is home to Devon and Cornwall, is the cheapest area of ​​the UK with an average price of £512.

While you can’t do much about your zip code statistics, there are other steps you can take to lower your premiums.

“Moving your car off a busy road into your driveway or into a locked garage can help reduce premiums as it reduces the risk of it being damaged or stolen. Parking in driveways instead of on the road can save you more than £140 on average every year,” said Wilson.

However, in the case of insuring a Range Rover in a major UK city, these steps are unlikely to result in a significant reduction in your premium.

Instead, some insurers are willing to insure your vehicle or reduce your costs if it has adequate security, such as a tracking system. It may be worth contacting your preferred service providers directly to see if this is an option.

It’s also worth noting that in October, Jaguar Land Rover said it was investing more in the safety of its vehicles. This means that the 2022 models are equipped with an improved safety system, and the technology can still be applied in older vehicles.

Jaguar Land Rover said it has contacted eligible customers to receive a free safety upgrade. The company also urged local owners to contact their dealership to find out if they can take advantage of these upgrades.