Jaguar Land Rover to pay £150 a month toward drivers' insurance amid surge in luxury car thefts

Jaguar Landrover is cutting the cost of its in-house insurance (PA)
Jaguar Landrover is cutting the cost of its in-house insurance (PA)

Jaguar Land Rover will pay up to £150 a month towards drivers’ insurance costs amid a rise in luxury car thefts which has pushed up premiums.

The car maker said it will slash the cost of its in-house insurance for motorists who buy a vehicle from them, the Telegraph reported.

Jaguar Land Rover launched its own insurance cover, Land Rover Insurance, in October.

The move comes amid soaring premiums with main stream insurance companies.

In the most extreme cases, drivers were facing demands for as much as £30,000 per year from insurers amid reports that Range Rovers were among the cars most targeted by criminal gangs.

The scheme, which is underwritten by Allianz, has provided more than 37,500 quotes averaging less than £180 per month.

Anyone who buys a new Range Rover or Range Rover Sport that was registered between May 1 and September 30 this year will see Jaguar Land Rover pay £150 towards a motorist’s monthly premium.

That will take the average cost under the company’s scheme down to just £30 per month.

Patrick McGillycuddy, managing director of Jaguar Land Rover UK, said: “We’re working hard to support our clients every step of the way and are pleased to offer a further, bespoke insurance initiative.

“JLR has an ‘all-fronts’ strategy to tackle the negative impact organised criminality is having on clients, insurance premiums, and the insurance industry itself.

“Our efforts and investments include a raft of initiatives with police forces, port authorities, international law enforcement agencies and, of course, UK insurers.”

Gangs have been using high-tech devices to steal luxury vehicles.

But Jaguar Land Rover says it has invested £15million in new technology to make its vehicles more difficult to steal.