Targeted Thefts are Making it Difficult to Insure Luxury Cars in the Capital - What are the Solutions?

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Targeted Thefts are Making it Difficult to Insure Luxury Cars in the Capital – What are the Solutions?

Targeted thefts making it more difficult to insure luxury cars
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  • Posted by: Castleacre

In 2022 Autocar reported that Range Rovers were the second most stolen vehicle in the UK with many insurers unnerved by a spate of claims and losses.

The British Insurance Brokers Association have recently warned about the difficulty of finding insurers willing to offer stand-alone insurance not just for Range Rovers, but other high-value cars owned by Londoners.

Specialist car insurers ERS agree that there has been a significant increase in high-value car thefts in London in particular and Chubb have just announced that they have teamed up with Global Telemetrics to offer their clients the latest in secure tracking device technology.

Castleacre Director, Hugo Johnsen, comments:

‘The increase in thefts and difficulties in finding insurance for luxury cars has been a worrying trend but security companies are responding to the challenge – ghost immobilisers which require a pin number seem to be very difficult to bypass or hack and may present a serious solution.

In our experience, insurers are more willing to cover Range Rovers and other high-value vehicles if they also look after a client’s household policy as it provides a more acceptable overall risk.’

If you own a high-value car you can take precautions to reduce your vulnerability to theft:

  • Ensure that you have an operational tracker on your car and that subscriptions are always up to date
  • If you have a keyless vehicle keep your fob away from your vehicle when you are at home or in the office and ideally in a faraday pouch to help prevent the key signal from being cloned.
  • Invest in an immobiliser which will prevent the engine from being started even if the key signal has been copied
  • Store your vehicle in a secure location which is garaged and gated whenever possible
  • Use a steering wheel lock

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