18 November 2023 , 17:26
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Range Rover owners are struggling to insure their motors because so many of them are being nicked.
Soaring thefts mean firms are declining to cover the SUVs – nicknamed Chelsea tractors – in some areas. New Range Rovers cost from £34,000 to more than £170,000 and are targets for thieves who use key fob tech costing £1,300.
Some 5,200 were stolen last year, according to the DVLA, mostly in London. Of 163 insurers on GoCompare, just 14 would cover a £28,000 2017 Range Rover Velar registered to a 30-something with 10 years’ no claims.
None would cover the motor in the capital, Liverpool or Manchester. Firms wanted £9,000 in Newcastle, £6,663 in Leeds and £8,922 in Birmingham – and even a “safe” postcode in Cornwall was quoted at £3,144.
Some 5,200 Range Rovers were stolen last year (Getty Images/iStockphoto)And top names like the AA, Aviva and Privilege did not offer deals in any of the cities or Cornwall. Aviva said: “We review pricing and underwriting criteria to reflect the latest information and data trends.”
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One Central London Velar owner said the issue has left him in a “peculiar bind” as the £45,000 car he bought a year ago is now worth £20,000. Gerry Bucke, of motor broker Adrian Flux, advised owners to ring firms directly, as comparison sites often just give a “computer says no” answer.
Jaguar Land Rover said it is “committed to tackling” the issue and has updated software to boost security. It comes as owners of electric cars also face spiralling insurance costs due to issues including them being more expensive to repair.