JLR (previously referred to as Jaguar Land Rover) will provide £150 per 30 days in direction of the price of its in-house insurance coverage for consumers of latest Range Rovers and Range Rover Sports.
The agency began offering its own policies final October following a pointy rise in premiums on Range Rovers. This was as a result of high theft rate of the previous-generation fashions.
The new contributions will apply to automobiles registered between 1 May 2024 and 30 September 2024 which are lined underneath Land Rover’s in-house insurance coverage division. The automobile’s worth can’t exceed £150,000, which excludes the range-topping SV variants of the Range Rover (£161,755) and Range Rover Sport (£168,500). The Range Rover Evoque and Range Rover Velar don’t qualify for the low cost.
According to knowledge from the DVLA, the Range Rover Sport was the fifth most stolen automobile within the UK final yr, with 1631 taken. This was 29% decrease than in 2022, because of Land Rover’s initiative to retrofit upgraded safety measures to the previous-generation Range Rover and Range Rover Sport. Some 150,000 automobiles (produced since 2018) have obtained safety software program updates previously two years, JLR stated.
The agency remains to be working to develop upgrades for these in-built 2016 and 2017.
JLR CEO Adrian Mardell advised firm buyers in March 2023 that “theft of our vehicles in large cities has become a problem”, highlighting London and Manchester. He famous that it was “mostly old-architecture” automobiles in danger, therefore the programme to improve these automobiles’ safety software program.
Mardell has since highlighted the security of the current-generation Range Rover. In February 2024, he stated: “The police nationwide laptop exhibits solely 0.08% of latest Range Rovers – simply 11 automobiles out of 12,800 automobiles which have been handed over to purchasers since launch two years in the past – have been stolen. It’s 15 for the brand new Range Rover Sport.
“I’m not sure which other brand could actually claim such a high level of security and a low level of theft.”
This means “there is no reason whatsoever why any insurance company should not gladly and readily insure those new vehicles”, Mardell stated.
He added: “The insurance industry clearly are not using the information in the data, which is a consistent series of dialogues and messages we’ve had with that industry for the last six months. They are very slow to respond to data.”