Saxon Insurance Brokers Ltd
3rd Floor, The Blade
Abbey Square
Reading, Berkshire
RG1 3BE
Samuel Cise • 6 February 2023
My recent LinkedIn post goes like this:
"£20,000 to insure a new Range Rover kept in London.
Clients refusing to take delivery of their car
Land Rover don't insure their own cars anymore
Brokers still trying to get the HNW motor underwriters to insure them on a stand alone basis
Other brokers calling us to insure their clients new Range Rovers
Meanwhile Land Rover are doing what to help their clients?"
It caused a stir. Who is most responsible for this issue?
Land Rover for not installing enough security to their vehicles eg a build in Ghost Immobiliser or a swanky steering wheel lock?
Or
Insurers for charging proportionately to the risk? Eg 1 in 6 Land Rovers are stolen so of course rates are high to insure them!
Or
Owners for not protecting their car enough with steering wheel locks or even garage it if you can instead of leaving it on the drive.
But then what if you live in London? Well the short answer is pay the premium or don't buy a Range Rover. No matter which direction you look they are near impossible to insure and don't go looking at Admiral on this occasion because the value of these new Range Rovers whether you're paying list price or a premium on the used car market either way they cant help you insure it.
Have a nose at some of the comments taken from my LinkedIn post about Range Rover thefts and the difficulties owners face when coming to insure a new Range Rover.
This isn't going away, motor insurance rates went up 8% in 2022 according to the ABI and that will continue further with inflation and shortage of parts supply.
Naturally we are happy to help insure any cars but fair warning if you don't own a fleet of luxury cars (to even out the risk for the insurer) there's no way a HNW insurer will insure your new Range Rover and nor will Admiral.
Give me a call anytime to talk about what the only solution in the whole market is!
Samuel Cise
Managing Director
Saxon Insurance Brokers
0203 384 0303
Read my comments in the Autocar article about the cost of Land Rover Insurance and Range Rover thefts here