Car insurance prices should be 'even more competitive' as drivers face costs as high as £38,000

Car insurance prices should be 'even more competitive' as drivers face costs as high as £38,000

WATCH: Stephen Dixon gives top tip for slashing car insurance costs

GB NEWS
Felix Reeves

By Felix Reeves


Published: 02/05/2024

- 11:17

Some drivers have been quoted as much as £38,000 for their insurance costs

Car insurance chaos affecting owners of luxury vehicles could be eased with certain safety methods that could see drivers lower their quotes significantly.

Owners of Range Rovers and Land Rovers have been struggling to get fair car insurance policies in recent months over fears they are easy to steal.


A number of high-profile instances have seen luxury vehicles stolen from driveways and car parks, with opportunistic thieves using relay devices to unlock them without anyone knowing.

Because of this, car insurance companies have been hesitant to offer cover, with those that are willing to insure, providing expensive quotes, some as high as £38,000.

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Owners of luxury vehicles are seeing more expensive car insurance costs

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Data from the DVLA has found that one in 100 Range Rover models is stolen, while two in 100 Velar R-Dynamic HSE D1 models are also at the centre of crimes.

In a bid to combat the insurance issues, Land Rover created a bespoke car coverage offer to motorists, although this also presented issues for concerned drivers.

Experts have urged to take matters into their own hands by installing more robust car alarms or even using rudimentary, but effective, steering wheel locks.

Gerry Bucke, general manager of Adrian Flux, said the recent car insurance quotes made for "grim reading" for Range Rover owners.

He added: "But the picture should start to improve, especially as the number of thefts hopefully begin to decrease.

"We can still quote for nearly all situations as a result of being a broker and having access to a wide range of insurers.

"To make our rates even more competitive we are asking for additional security to be fitted on top of whatever the owner of the vehicle already has to decrease the risk of it being stolen.”

Some motorists living in certain areas are also being hit with more expensive price costs as they may be more at risk of having their cars stolen.

The expert highlighted how drivers in Liverpool, London and Manchester would have difficulty getting cover, and if they are fortunate enough to receive a quote, it would be very expensive.

Many drivers have opted to install a tracking device which can instantly cut the rate of their insurance and make their cars safer.

By investing in such a device, they will be able to quickly recover their cars if they do get stolen, especially with luxury vehicles like Range Rovers more at risk.

Experts have also called on drivers to speak with specialist insurance brokers to give them a personalised coverage plan which suits them and most likely will not reach the lofty heights of general cover.

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Bucke concluded, saying: "Comparison websites will just provide a 'computer says no' response which is far from helpful.

"So for any Range Rover driver who is stuck in what feels like an uninsurable position, or anyone else who is struggling to find affordable cover given the market, there's no better time to pick up the phone and speak to a specialist broker.”

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