Reply With QuoteReminds me of the time when the same thing happened to insurance premiums for 'hot hatches' back in the early 90's.
My XR2 became pretty much worthless overnight as nobody could afford to insure them.
Whilst costs are up everywhere, I've been reading and hearing about the price of insurance for RR cars rocketing due to the number of thefts, especially around London where some say they have just about become uninsurable. Don't have one but as the owner of an F-Pace and being up in semi-rural Scotland I wondered if there would be seepage to my model and location. Yep. Insurance renewal in today and is up 45%. Called them and first time I've not been able to get some sort of discount, even by a a few pounds. So I ran the usual comparison quotes and cheapest I could find was +85%! So sucking it up and staying with same insurer this year I guess. You would think this has to be a sore one for JLR in terms of people looking to move away from their products....or put off new buyers.
Reminds me of the time when the same thing happened to insurance premiums for 'hot hatches' back in the early 90's.
My XR2 became pretty much worthless overnight as nobody could afford to insure them.
I wouldn’t touch JLR products with a barge pole.
Our Ipace increased about 50%, premiums for electric cars have gone up but their is also seems to be a Jaguar tax, a high number of insurance companies are refusing to cover Jaguar SUVs or 4X4s
I recall the early 90's Hot Hatch insurance issues well as I was selling new Astra GTE 16v's and Nova GTE's etc it was a very painful and often awkward situations arose daily where clients tried to offload but we simply could not buy in as who do we then sell them to ?
The insurance companies are bearing the brunt of quite frankly crappy security allowing many of these cars to be stolen with relative ease which is daft when products like 'ghost immobilisers' are readily available Some JLR Dealers have caught on (just) and are offering free installs but insurance companies will take time to come around and a few months or even years of lower theft rates to reflect lower premiums.
Jaguar are finding it tough to find their identity and the network is now downsizing outlets at a rapid rate currently Vertu going from 6 down to 1.
When you combine the crazy 'Luxury car tax' for over 40k cars then add a chunky upward only insurance premium it's all getting a bit buttock clenching add in a dash of depreciation that hasn't existed for 2 years and we could be heading for a bit of a challenging time.
Insurance companies are also now sick of the RS3 / M140i / A35/45 youth market and these cars are getting massive premium hikes which is battering not just younger buyers but all age categories who own or want to.
Unless the car manufacturers get properly serious about theft protection quickly high premiums are here to stay, you can't unlock an iphone without a fingerprint or facial recognition so why not all new cars ?
I guess the parts supply problem isn't going to help:
https://www.autocar.co.uk/car-news/c...s-await-repair
"A man of little significance"
I had an XR3i for 2 years insured with a company then they told me they had changed the age limit up to 25 so they wouldn’t even insure me on one.Originally Posted by Maysie
But this insurance lark recently is beyond a joke. I’m dreading next month, I’m paying around 850 now but had quotes last year up to 3600. It’s just mental.
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Parts availability (or lack thereof)is leading insurers to write cars off much quicker than pre-covid.
Hypothetically speaking, let’s imagine 6 months ago you’ve bought an A class Mercedes Benz. £34k, standard AMGLine, A180.
You have a minor collision into the back of someone, say bumper/bonnet/lamps/wings. If you’re unlucky maybe a cracked windscreen and a driver airbag. You have a passenger, their airbags gone too. You now need a new dashboard too….
Bonnet £400 wings £300 each LED headlamps £550 each bonnet £500 wing screen £500 dash carcass £500. 2 airbags £300 each, new seatbelts (assuming the pretensions have triggered) £300. Bonnet pyrotechnics £300. £4800.
Labour and paint £5k easily including calibration of the electronics (windscreen distance sensor, park sensor, collision detection etc) so you’re at a £10k claim.
Insurance company put you in a courtesy car whilst yours is being fixed, cost £50-100 a day. Let’s go cheapest, £50 a day and it takes 90 days to settle the claim, do the repair and put you back in your car. 90x50 is another £4500.
£15k ish loss adjustment.
Or.
Write the car off within a week, write you a cheque for £28k (“depreciation”) and a hire car (7x£50 £350) and sell the Merc for salvage say £20k. £8350 loss adjustment.
And this is where it then takes another sinister turn, because the wideboy garage who buys the cat S A class’s cheapest way to get it back on the road for sale with a hefty profit is to get the local scrotes to go steal an A class in the same colour, usually for a relatively small payday (a couple of hundred quid) then strip and refit the parts, sell on the car with (generally untraceable) stolen parts. So after factoring in the stripping, labour and refitting, they might have outplayed £21000 on a cat s that they can advertise for £26k hoping that some mug doesn’t HPI it…..
And to add insult to injury, that still leaves the wideboys a set of seats, doors, back bumper, set of wheels, steering wheel (sans airbag of course) rear lights and other trim pieces that they didn’t use from the stolen car on the rebuild of the cat s to flog on eBay……
I think its just car insurance in general, mine was up massively (on a M240i - I made a post on here about on TZ)
My wife's car insurance was a few weeks back and that was went from £400 to £500, called around and no one was cheaper that is on a CX-30.
A colleague at work has a RR SVR and he struggled to get insurance on his last time, not sure what he ended up paying but it was very high.
My silly car insurance is due in February, better start saving now
Time to buy car insurance company shares.
I got a renewal for my GLC 43. It was £928, a couple of hundred more than last year.
Off I trotted to the comparison sites and the next cheapest was £1600 - so it looks like I got off very lightly.
I also insure a Tesla and a Yaris on a multicar policy that needed renewed and that increased to £1300 this year.
Bonkers costs.
Mine is up as well. Of 3 cars the most expensive of mine to insure is a Jaguar XFR and I can't get close to the renewal price when doing a comparison quote. My overall renewal is up around 25% in total.
I was considering an iPace but the best price I could get for insurance was £1200 with a £500 excess. This compares to £300 for my current BMW 520 to show I'm not a ridiculous risk. Even a BMW 440i was £800
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Range Rovers are silly money to insure near me. I live in North London Arkley.My mate's renewal came in at £16,000 for his new Range Sport , he quickly got rid of it. A friend in Harpenden got quoted £7000 for a 2017 .
My neighbours got stolen off their drive , they just jumped over the walls, started it and reversed out the gates. The gates didn't offer any resistance.
I really wouldn't bother. Motor insurance is a loss leader for other ancillary products sold with the policy.
The reason insurance premiums are going up is to balance the massive losses made in the last year or so accross the market (including a massive hike in the number of RR and LR's being stolen ).
Insurers aren't making a profit, they are trying to balance the books to make sure they comply with the FSA reserving requirments designed to protect policyholders.
XJ 3.0 Supercharged = £110pa with Saga, albeit only 5000mpa, no business, but protected NCD and premium fixed for 3yrs.
Not sure it would be high on anyones list of motors they'd want to nick ;) but its the best car I've had to date, and never missed a beat.
A friend of mine near Birmingham has a Range Rover said the premiums gone up from 1.5k to 6k this year needless to say he wants to sell it
Looks like there maybe quite a few cheap 10 year old RR products on the market if these insurance quotes keep rising.
Sales guy at my Ford dealers has an Alfa Quadrofolio Guilia and it’s gone up,to £6k. Mind you he’s only 21 and that’s with it in his dads name
Parts delay with around 5000 cars waiting to be repaired, and likely a good number of those being insurance repairs while the owners are driving courtesy cars won't help bring down premiums anytime soon.
The second most unreliable car brand (after Porsche, who would have thunk that!) can’t get replacement parts for it unreliable cars.
There is some irony in there somewhere.
My lad has just changed from a Skoda Citigo to a Golf GTi. I hope he doesn't regret this come renewal time.
The parts shortages has become a myth, this is about money, until recently I dealt with JLR on a daily basis, it’s all about cost, I keep moaning that this so called iconic British brand is a scam, it’s Indian owned and a huge percentage of the cars content is made in China, Eastern Europe and even Tunisia. They might charge a lot for the cars but it doesn’t mean they are high quality,
Last January I bought an L494 Range Rover Sport. 5.0 supercharged petrol. I fancied a change from my Audi S8. The insurance for the S8 was £800 a year. The insurance for the Range Rover was £1200. A bit of a hike but still manageable.
Looking ahead to the premiums for January 2024, I started looking at the comparison sites. The cheapest I could get was £2500. This is for a 44 year old with 21 years NCB albeit living in Manchester City Centre.
I decided to cut my losses and trade in the Range Rover for a BMW X5 3.0 diesel. Insurance is now going to be £600. Car tax has dropped from £600 a year to £240 a year and mpg has doubled.
A local mortgage broker got me a better deal than I could find online. I wonder of the same is true for insurance brokers? Won't hurt to ask, I guess.
Just renewed my petrol SQ5 for £350 with Axa. That appears to buy you about a month of cover on a JLR..
If you think this is bad, a chap on the RRSport forum moved from Scotlandshire to England (not central London) and his insurance company sent him a letter kindly informing him that they were cancelling the insurance and he had 14 days to sort himself out. Not slamming him come renewal time, just a straight goodbye. Unbelievable.
The insurance was the final nail in the coffin of deciding whether to buy a car I was offered. 2011 4.4 tdv8 of very well known provenance valued at 10k ish, best quote for me, being old, living in the sticks with multiple policies and no recent claims and the best quote was nearly £600.
Compare this with my current cls63 estate valued at double the RR , newer etc for which I pay £350. Not the only reason (!) but as I said the final nail.
Hardly unbelievable. They are quite within their rights to reassess the risks (which he had changed from the original contract) and decline. They would have refunded for the unused insurance period. Plenty of other insurers out there. Chap should have done his homework beforehand.
Martin Lewis is on TV Now ! . Some takeaway.
21days before renewal is sweet spot
Add spouse or other older driver to reduce risk in their eyes
Consider multicar with spouse or multi eg car and home
Needs to be very carefull, insurers call this fronting. If it goes sideways he may find he has no insurance.
I’ve been trying to get insurance on a new SVR and premiums are astronomical, we’re talking 6 grand for the ones that will quote, I don’t get it
My MX-5 goes sideways at the drop of a hat but only when it rains and I give it some welly on a roundabout.
"A man of little significance"
I think if I managed to get my wifes MX5 sideways with her in the car, my head would look as if it was on sideways. Such would be the blow :)
Assuming it’s a Range Rover how long do you hope to keep it, they seem to disappear very quickly
Yes Range Rover SVR, I am hoping to keep it for a while fingers crossed, funnily enough I actually had a couple of toe rags try TWOC my current Range Rover in broad daylight about a month ago on a Sunday afternoon but I ran after and caught them!!
I lost an Evoke 7 years ago. JLR have known about the security issues and chose to do nothing about it. I chose to never buy one of their products again.
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I suspect they weighed up the cost of fixing it vs the business lost.
JLR are reintroducing insurance themselves in January after stepping back last year.
Additionally they’re retrofitting security products to cars and in discussions with insurers re new vehicles apparently.
I ordered a Defender 90 HSE X-dynamic in May. Insurance then was £738. I cancelled in September and it was £1500 (one of the reasons not sole though). Quote last week was £902.
Flip side my Velar has gone from £400 (12/21) to £600 (12/22) and now £1700. I’m selling next week so not an issue but will just keep an eye on things. Insurance did put me offer ordering an RRS
My Velar was £475 fully comp, full protected no claims with myself and Mrs W on, no prior claims etc. I'm 57.
Renewal came through in early October for £875, so trawled through comparison sites and was a bit shocked that some mainstream insurers refused to even quote!
Ended up with SAGA at £660 which I believe is now locked in for three years, which may have been a great stroke of luck reading the above!
Over on the JLR thread on Pistonheads there are a few owners saying their new and not so new RRS and full fat RR have had engineers out retrofitting security updates.
ha ha I would be lucky to keep my head !!!!!!!!!!
My apologies, an extreme use of the word unbelievable. Perhaps, gosh!
Of course you are correct, they must be within their rights as per the no doubt small print. The small print that most people don't read and can't understand even if they do. I accept that people should because the small print is small for a reason.
The point I was making was that most reasonable people would think it unreasonable and view it as a fast one to get out of a contract for a vehicle that has become toxic to insurers. I get that it's a business and I should not expect them to play nicely.
Plenty of insurers out there? You have been reading the thread right?
Hands up anyone who considers having their car insurance cancelled when they are considering moving, unless they are thinking of moving to a warzone, which the last time I looked, Bedfordshire was not. An increase in premium next year yes, cancelled almost certainly not.
One of our neighbours said we have had a couple of range rovers stolen from our road in the last few days
Dreading the wife's renewal coming next month.
Insurance or marriage vows?
TBH insuring their cars is the least of owners worries, the way things are going the whole dealer networks going to fall apart and you won’t be able to get warranty work done either. Not too sure how a company can carry on with awful reliability history with no inkling of any improvement. That reliability level has been that way for many years. The vehicles that are out of warranty must be costing them a bloody fortune in post warranty repairs. The entire dealer network is ran in most by huge PLCs which are focussed on turn over not customer experience and retention. They have very recently changed their parts distribution centres to one central hub. It’s in total meltdown. Parts taking weeks to get to dealers, dealers having no idea what’s going on, basic parts on constant back-order. JLR is currently a f**king shambles…. They really need to get their act together or I really fear the worst for them.
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Why? Let her pay.
KS, you definitely need to get that refund from the charm school man 😂😂
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