JLR says it has made progress in addressing some of the rocketing insurance costs its customers are experiencing because of theft concerns from the motor insurance industry.
It is now offering a £1,800 insurance subsidy to tempt customers towards its most premium SUVs, its latest measure following free anti-theft updates for existing owners and the launch last autumn of its own insurance business.
The car manufacturer has now announced that, to help sales of its new Range Rover and Range Rover Sport SUVs between now and the end of September, it will give buyers a monthly £150 contribution towards their insurance cover for up to three years when they use its insurance service.
“JLR has an ‘all-fronts’ strategy to tackle the negative impact organised criminality is having on clients, insurance premiums, and the insurance industry itself, said Patrick McGillycuddy, managing director of JLR (UK).
He added: “We’re working hard to support our clients every step of the way and are pleased to offer a further, bespoke insurance initiative.”
The high value cars have been targeted by criminals, including organised crime gangs, who often ship them overseas hidden in containers or break them down for valuable parts which they can sell.
Insurance prices for the popular luxury SUVs have soared, despite the latest theft statistics showing that the number of JLR vehicles being stolen is reducing.
Insurance companies have continued to ramp up prices and some owners have been quoted as much as £20,000, while others have been unable to secure coverage.
The carmaker said that it has made “significant progress” on its promise to assure UK insurers and industry stakeholders of the anti-theft security measures fitted to its vehicles sold since 2018, and to influence the insurance premiums quoted for owners of the Range Rover, Defender and Discovery SUVs.
It says it has invested £15 million to update the security of previous-generation JLR cars, including those out of warranty.
In February it tasked the JLR dealer network to deliver important security updates free of charge to more than 450,000 vehicles, which will prevent thieves from being able to breach the car’s on-board computer systems, which they do in order to unlock the vehicle and programme new keys.
JLR’s engineers are now working on anti-theft software for its 2016 and 2017 vehicles.
“Our efforts and investments include a raft of initiatives with police forces, port authorities, international law enforcement agencies and, of course, UK insurers,” said McGillycuddy.
Launched in October 2023, Jaguar Insurance and Land Rover Insurance has delivered more than 37,500 quotes to clients, with an average quote premium of less than £180 per month.
