If Hyundai and Kia car owners and buyers are having nightmares in the US, Land Rover Range Rover owners on the other side of the Atlantic are finding it hard to have insurance for their luxury SUVs. British automotive publication Autocar UK’s report claims that Land Rover Range Rover was the second most stolen vehicle in the UK in 2022, which resulted in the insurance companies shying away from insuring these models. The report also claims that insuring Range Rovers in London has become increasingly difficult and expensive.
The Land Rover Range Rover SUV claims to have witnessed several insurance companies hiking premiums substantially following the high rate of theft recorded in 2022. What’s worse is that many insurance companies have stopped offering insurance for this model, leaving owners struggling to find a reasonable insurance policy for their vehicles, even from Tata Motors’ owned luxury vehicle manufacturer itself. In some cases, the insurance premium has shot up to as high as $13,139 for the Range Rover, claims the report.
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It further claims that Range Rovers have become profitable targets for car thieves in the country. The problem for Range Rovers is not their security but their massive popularity in the UK and abroad, claims the report, citing as the reason behind the high rate of theft. The car thieves know that they can dispose of a stolen Range Rover very quickly and for an excellent price. This is propelling them to invest in technology they require to steal the Range Rovers, claims the report.
The luxury auto manufacturer, too, is aware of the issue and reportedly said that it takes vehicle theft very seriously. The car brand reportedly claimed that it is working proactively with insurance companies and other relevant stakeholders to improve vehicle security measures and prevent such activities.
First Published Date: 26 Feb 2023, 09:43 AM IST