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Jaguar Land Rover (JLR) has launched an insurance scheme for Range Rover customers facing high premiums due to vehicle theft.
It said the scheme, underwritten by Allianz Insurance, was for customers “facing challenges” with increasing insurance premiums.
The service has provided quotes to more than 4,000 clients since October, with an average yearly cost of £2,400.
Patrick McGillycuddy, JLR UK managing director, said: “Customers of luxury cars and other luxury items are experiencing an increase in thefts due to organised criminal activity in the UK.
“The desirability of our luxury vehicles, coupled with concerns around thefts, has recently led to challenges in obtaining insurance cover for some clients. 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.
“While our new insurance proposition is a key milestone, we want to reassure clients that we will continue monitoring and refining our service so that even more clients can take advantage of it.”
JLR announced last month an £10m million investment in vehicle security to help tackle keyless thefts.
JLR said the latest vehicles are proving “highly resilient” to thefts, citing UK police data showing that since January 2022, only of the 12,200 new Range Rovers on the road had been stolen (0.07 per cent), while only 13 of the 13,400 new Range Rover Sports on the road have been affected (0.1 per cent).