Car insurance prices 'should start to improve' after drivers rejected from specialist policies

Car insurance prices 'should start to improve' after drivers rejected from specialist policies

Car insurance prices continue to rise

GB NEWS
Felix Reeves

By Felix Reeves


Published: 13/01/2024

- 10:00

Updated: 24/01/2024

- 15:48

'Comparison websites will just provide a 'computer says no' response which is far from helpful'

Experts are reassuring drivers that they are not uninsurable after a number of motorists were rejected from insurance companies because their vehicles were more likely to be stolen.

At the end of 2023, Jaguar Land Rover announced that it would be further rolling out its own insurance product after drivers explained how difficult it was to get insured.


Expensive cars like Land Rovers and Range Rovers have been targeted by criminals looking to steal their high-end vehicles through keyless entry in recent years.

This can happen when criminals have a relay device to bounce the signal from the key fob to the device, allowing people to gain entry to the vehicle without the owner's knowledge.

Car insurance policy

The average car insurance policy is nearing £1,000 according to Confused

GETTY

Jaguar Land Rover has now launched insurance offers to help “alleviate recent challenges clients have faced when seeking insurance”.

The firm has already provided more than 4,000 quotes since October, with an average “monthly premium of less than £200”, although Compare the Market data shows the average monthly premium to be just £74.

A spokesperson for JLR said: “We are fully committed to doing everything we can to address this by adopting a multifaceted approach: from our significant investment in vehicle security, to now providing our own insurance.”

Despite the bespoke insurance opportunities for Range Rover owners, some customers explained how they were unable to insure them or were quoted enormous and unsustainable prices.

This comes as drivers look for new ways to ensure their cars are safe overnight, including installing CCTV cameras, car locks and large gates.

Some have even gone through JLR to install the latest security systems designed to prevent people from “hacking” into cars with keyless entry.

Gerry Bucke, general manager of Adrian Flux, said drivers should be prepared for “grim reading” when looking to insure their car in relation to high prices.

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.”

Drivers in major cities like London, Liverpool and Manchester are more likely to see higher insurance quotes given the elevated risk of having their car stolen.

Advice for motorists who are worried about vehicle theft includes getting a Ghost Immobiliser, investing in a Faraday pouch and even adding a lock to their wheels.

Gerry Bucke said drivers are unable to get specialist insurance quotes because online comparison websites are unlikely to offer these kinds of policies.

He added: “Talking to a human on the phone gives you the chance to understand the bigger picture around the current prices, discuss the options that are available to you and to find the most affordable, and appropriate, cover for your needs.

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Range Rovers

Owners of Range Rovers are facing enormous car insurance quotes

PA

“Comparison websites will just provide a 'computer says no' response which is far from helpful.”

Many drivers have taken to social media to express their dismay at their car insurance quotes over the last year as some motorists claim to have been quoted £30,000.

In one instance, Rory Reid, former Top Gear host, said how he had been quoted as high as £8,200 to insure his Tesla Model Y.

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