Range Rover Insurance: Cost, Companies, and What to Know
While it’s important to find low rates when you’re buying Range Rover insurance, it’s equally crucial that the policy you choose has enough coverage for your specific needs.
The best insurance providers offer their policyholders reasonable rates, a wide variety of coverage options, and discounts that reward customers for safe driving and for choosing a vehicle with premium safety features.
When obtaining insurance quotes, remember that several elements go into determining the price of auto insurance.
Your age, gender, driving record, and geographic location are just some of the multiple factors that can affect your insurance rates.
One of the most important variables is the make and model of your vehicle.
When calculating the cost of Range Rover insurance, it’s important to understand how insurance companies consider the risk related to your particular vehicle.
Safety ratings, theft rates, engine size, and the cost of repairs all play a role in the price you pay for insurance.
Factors Affecting Range Rover Car Insurance Premiums
Insurance companies offer a wide range of price points for Range Rover insurance.
Depending on the company, rates can run the gamut from relatively inexpensive to midrange or even quite pricey.
While picking the least expensive insurance may be tempting, you should look at the company’s merits overall, as well as what’s included in the price of each insurance provider’s coverage.
Be sure to consider all available options, to be certain that you’re purchasing enough insurance for your specific needs.
Several factors related to the specific car you drive can affect your overall insurance rate.
Below, you can find an exact breakdown of what these factors include, as well as other things to keep in mind when you drive a vehicle made by Range Rover.
Safety Rating and Damage Threshold
Safety ratings and damage thresholds from the Insurance Institute for Highway Safety (IIHS) play a significant role in determining the rate you pay for Range Rover insurance.
Safety ratings for Range Rover and Land Rover’s vehicles are limited to certain categories, and the results vary.
The IIHS rates a car over various safety categories and provides one of four ratings: “G” (Good), “A” (Acceptable), “M” (Marginal), or “P” (Poor).
IIHS only rates the Land Rover LR3 on head restraints and seats, giving it a rating of “G” on this model for 2005, 2006, 2007, and 2008.
The LR2 received a lower rating of “M” in the same category in both 2008 and 2009.
The 2005 Freelander was rated “A” for moderate overlap front, but was only assigned a rating of “P” for its side.
The IIHS hasn’t tested many other models made by the company. The small number of ratings on Range Rover’s vehicles may result in a higher insurance rate.
Comprehensive and Collision Coverage
The overall cash value of your car affects the cost of your comprehensive and collision coverage. The value of your vehicle depends on the year, model, and included features.
According to Kelly Blue Book, the value of a 2017 Range Rover Autobiography with standard features is between $121,320 and $132,301.
The 2018 Range Rover Velar R-Dynamic HSE with an upgraded engine and the additional option of a rear entertainment system has a fair market value between $72,058 and $75,527.
This wide range in pricing for the various Range Rover models means that the comprehensive and collision insurance rates vary as well.
If your vehicle is more expensive to replace or repair after a crash, your insurance provider has no choice but to charge a higher rate.
Claims Frequency and Potential to Cause Damage
The IIHS collects claims data and compiles a database detailing how often specific vehicles are involved in crashes; how likely they are to cause damage to other cars, passengers, or property; and how often they’re stolen.
In the IIHS’s Insurance Loss Report, the Land Rover Freelander four-door received an average rating in both injury and collision, with no theft rating.
The Range Rover four-door did substantially better than average for injury, about average for collision, and significantly worse than average for theft, meaning that the likelihood of someone stealing the vehicle is high.
The Range Rover’s theft rating may increase the cost of your policy, while Range Rover’s injury and collision ratings may not have much of an effect on the price.
Many insurance providers offer discounted rates if your vehicle has up-to-date safety equipment such as rearview cameras, antilock brakes, or passive restraint systems.
This is where Range Rover owners benefit the most. The 2019 Range Rover is fully equipped with top-of-the-line safety features such as lane departure warning, emergency braking, and front and rear park assist.
The 2019 Evoque is another Range Rover vehicle with similar safety features that makes it likely to qualify for discounts from several insurance providers.
Getting a Quote: What Are the Best Companies for Range Rover Insurance?
When shopping for car insurance for your Range Rover, or any other make of vehicle, try and get a minimum of three quotes from various companies to see the different rates available to you.
Researching the ratings and reviews of the insurance providers you’re considering can give you the peace of mind of knowing that you have coverage in the event of a collision or similar loss.
Some other important factors to consider when choosing your insurance provider include:
- The company’s financial strength
- Licensing of the company and agent
- Your level of comfort with the insurance representative/company
- Your customer service relationship
When you’re obtaining an insurance quote, make sure to ask the representative questions that can help you get the best deal possible, such as:
- Do you offer a good-driver discount?
- Are there discounts for driving less?
- Do you offer discounts if I bundle my policies?
- Do I pay less if I choose to pay in full or set up automatic payments?
What to Know About Range Rover
Range Rover is a line of SUVs manufactured by Land Rover. British Leyland, a U.K.-based auto manufacturer, launched Range Rover in 1970.
Range Rovers are well-known for their off-road capabilities and luxurious interiors.
Land Rovers and Range Rovers have a reputation for setting the industry standard for SUVs.
Now that you have a thorough grasp of the factors that can affect your Range Rover insurance policy, you should feel confident in your ability to negotiate the best price.