Insurers refuse to cover new Range Rovers

INSURERS are refusing to cover new Range Rovers in London after a spate of thefts of the high-end cars.

Underwriters are wary of insuring the models, which cost around £100,000, unless they are parked securely and have tracking devices.

Thieves have reportedly cloned keys, or used equipment to tap into the onboard diagnostic systems, to take the vehicles.

Thatcham Research, the motor insurers’ automotive research centre, said that between January and July this year, 294 Range Rover Evoque and Sport vehicles were stolen in London. During the same period, 63 BMW X5s, a rival to the Range Rover, were taken.

Ashley Cole, of Aqua Underwriting, said the company had paid out on four stolen Range Rovers in the past few months and has recently turned down new clients’ requests for insurance. He said secure parking and a category 5 tracker were now pre-requisites as the company would only ever take “calculated risks”.

Jaguar Land Rover said its cars met industry requirements.

“Nevertheless we are taking this issue very seriously and our engineering teams are actively working in collaboration with insurance bodies and police forces.”