Range Rover owners in London are reportedly facing difficulty in finding insurance for their vehicles due to a combination of high premiums and a decrease in the number of insurers willing to cover them. According to the DVLA, Range Rovers were the second most stolen cars in the UK in 2022, with over 5,200 thefts recorded. Many of these thefts occurred in London, resulting in mounting claims and a rise in insurance costs or insurers withdrawing coverage altogether. Land Rover itself has stopped offering insurance for its models, with its website notifying customers that the company and its insurance provider Verex had mutually agreed to end their partnership.
One Range Rover owner, investment specialist Dan Adler, said his insurer was unwilling to cover his new Range Rover, and another had quoted him an additional £6,000, bringing his total premium to £11,000. Samuel Cise, director of Saxon Insurance, said his company had also experienced difficulties insuring London-based Range Rovers, with quotes ranging from £20,000 to £38,000. Another specialist broker stated that Range Rovers were unique in being quoted very high premiums or even none at all, due to their popularity with thieves.
The situation has made it difficult for Range Rover owners in London to insure their vehicles, with many either unable to afford the premiums or forced to turn to more specialist brokers. Range Rover owners in other areas of the UK or with different insurance needs may not be affected to the same extent. However, the difficulties facing Range Rover owners in London highlight the challenges of insuring high-end cars in areas with high levels of car theft.