Jaguar Land Rover launches its own insurance scheme following rising thefts

Following many insurers' decision to pull out of the market for insuring Range Rovers, JLR itself has stepped in and created its own bespoke insurance scheme for their vehicles after the previous scheme ceased in November last year.

Whilst we know that insurance costs have been increasing for most cars, it is believed that Range Rover vehicles have suffered the most, where their owners have experienced particularly large premium increases, and in many cases, their insurance providers have declined to provide cover, full stop.

These decisions made it a very difficult time for JLR and particularly new car sales, plus they also experienced second hand values declining rapidly. 

This new insurance product is underwritten by Allianz Partners, and went live in October this year, and has so far been used by over 4,000 JLR clients. 

The scheme was given the go ahead following JLR’s commitment to invest circa £10m in security updates, which has contributed to the fight of the large number of thefts experienced by owners of Range Rovers, and according to recent data from the Police National Computer database, it was cited by JLR, that thefts have dropped by 40% for Range Rover and Range Rover Sport models built from 2018 to 2022.

There are a few conditions within the policy where it is most notably, that the customer must not be under 30 years of age, and the value of the car must be below £150,000. 

By taking out a policy, you’ll also benefit from no deposits or interest charges, and clients can modify or cancel their coverage without incurring mid term adjustment fees. The pricing is also guaranteed for 12 months. 

What is most intriguing is that where monthly payments fall below £200, the policy ensures that any repairs are conducted by a JLR authorised body repair centre. 

The product also extends beyond just Range Rover clients, where you are also able to cover the Defender and Discovery vehicles, as well as the Jaguar models.

To read more about this insurance product, visit the Jaguar Land Rover website