Why is Range Rover insurance so expensive?

Over the past two years, the much sought-after Range Rover brand has become synonymous with costly car insurance.

Owners have been met with extortionate five-figure quotes to renew their policies, or struggled to find companies willing to take on the perceived risk of insuring the 4x4s.   

Here, Telegraph Money explores why insurance costs for Jaguar Land Rover (JLR) models have gone through the roof and what is being done to rein in the prices.

Range Rover insurance problems

In the past year, long-term owners of the luxury vehicles have been met with renewal premiums in excess of £20,000. There have also been multiple instances of insurers refusing to cover drivers based in London due to the heightened risk of vehicle theft.

Some insurers covering car dealers in the motor trade industry now also have terms and conditions solely focused on Range Rovers and Land Rovers.

An uptick in theft rates has been the driving force behind the bulging insurance premiums.

Organised criminal gangs stealing luxury cars are thought to be the driving force behind the increase in JLR thefts due to the vehicles’ desirability, high resale value and keyless technology.

Figures from the Driving and Vehicle Licensing Agency (DVLA) show that three JLR models were in the top 10 most stolen vehicles of 2023. The Range Rover Sport, Range Rover Evoque and Land Rover Discovery Sport models were reported stolen 4,074 times last year. 

The UK's top 10 most stolen cars in 2023

1 Ford Fiesta 5,976
2 Ford Focus 2,120
3 Volkswagen Golf 2,038
4 Mercedes-Benz C-Class 1,786
5 Range Rover Sport 1,631
6 Range Rover Evoque 1,489
7 BMW 3 Series 1,466
8 Vauxhall Corsa 1,110
9 Vauxhall Astra 1,086
10 Land Rover Discovery Sport-954

Ref: Why is Range Rover insurance so expensive? (telegraph)