Range Rover Insurance

The Range Rover: Owning This Luxury Vehicle Could Mean High Insurance Costs

(How to easily find the right coverage.)

Range Rover Insurance

The Range Rover is both beautiful and luxurious. It's filled with high-end features that can make car insurance expensive, and a reputation for being less than reliable means you will probably be unexpectedly forking over some cash for maintenance and repairs.

Even though the Range Rover is expensive to insure and known for frequent breakdowns, there is usually a waiting list to purchase one and its owners are some of the most loyal car owners around.  

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What Kind of Insurance Do You Need for Your Range Rover?

With its hefty price tag, you'll want to make sure that no matter what situation you and your Range Rover get yourselves into, you'll be protected. Some insurance is required by states and others is optional, but we recommend working with your insurance agent to consider all insurance coverages. 

Most states mandate the following coverage: 

Bodily Injury Liability 

Seventy-seven percent of people will get in an accident in their lifetime. If you're at fault in that accident, then you're responsible for any injuries to any other individuals involved in the accident, even if it's a pedestrian or a passenger. Bodily injury liability pays the other driver for any medical costs and lost wages that may result from the accident you caused. 

Property Damage Liability

If you're at fault in an accident and you cause damage to someone else's property, property damage liability is there to reimburse the owner for the damage. This could be running into someone's fence or mailbox. 

Many states also require this coverage:

Medical Payments/Personal Injury Protection

Injuries that you or your passengers sustain in an accident can require costly medical care. This coverage pays for medical treatment and lost wages. Fifteen states currently mandate that you have proper medical payment or PIP coverage as a driver. These states are:

  • Delaware
  • Florida
  • Hawaii
  • Kansas
  • Kentucky
  • Maryland (unless a waiver is signed at initial purchase of the policy)
  • Massachusetts
  • Michigan
  • Minnesota
  • New Jersey
  • New York
  • North Dakota
  • Oregon
  • Pennsylvania
  • Utah 

Every state has its own rules about which type of insurance you can buy and how much you must carry. If you are in an accident, this helps pay the bills associated with physical recovery for you and your passengers.

Uninsured Motorist Coverage

Uninsured and underinsured motorist coverage pays for damage to your vehicle if the other party doesn't have enough insurance coverage. Even in states where coverage is mandatory, there are countless claims of this type. 

Optional Coverage

Collision Insurance

If you don't have collision insurance and you collide with someone's vehicle or property, you'll be paying out of pocket. This coverage pays for the costs so you don't have to. 

Comprehensive Insurance 

Unfortunately, your Range Rover is at risk of a variety of other incidents. From vandalism and theft to unexpected damage from wild animals or Mother Nature, comprehensive coverage pays for everything that collision won't cover. 

Glass Coverage

Driving with a crack in your windshield is illegal and dangerous. Seeing as the Range Rover is a high-value car, a replacement for a windshield could run you up to $800. Glass coverage is an affordable no-deductible coverage option you can purchase so you're covered in the event of a broken windshield.

Gap Insurance 

If you had to take a loan out to purchase your Range Rover, you may want to consider gap insurance. In a total loss, you would still be responsible for the remaining payments to your lender. Gap insurance covers the difference between what the car is worth and what you owe. 

What Affects the Cost of Insurance for a Range Rover? 

Annual Mileage 

Drivers who spend a lot of time behind the wheel tend to face higher insurance premiums. If you're driving frequently, there's a greater risk that you'll be in an accident, and insurance companies account for this in their pricing.

Driving Record 

Violations lead to insurance companies thinking you're a risky driver. Having just one violation on your record can negatively impact your insurance premiums. Your independent insurance agent can help you determine when violations will fall off your record.

Your Car’s Value

Luxury vehicles like the Range Rover are outfitted with expensive trims, loaded with the latest technology, and feature top-of-the-line safety features, which means they are expensive to repair. All of this will push up your Ranger Rover insurance rates, especially on a brand-new vehicle. 

Average Price of a Range Rover
2020 $90,900 - $209,500
2019 $77,525 - $171,775
2018 $66,050 - $151,650
2017 $50,000 - $116,725
2016 $40,200 - $93,025

The Safety of Your Range Rover

Insurance companies will take the safety of your vehicle into consideration when setting premium costs. The Range Rover is stocked with standard safety features like forward collision warning and a rearview camera, but for a score of 54 out of 100 from Consumer Reports, which takes into consideration road tests, predicted reliability, and owner satisfaction.

Where You Live

You may be surprised to learn that where you live has an influence on your insurance rates. Drivers who live in more populated areas will generally have higher premiums than those who live in rural towns, due to increased risk of incidents like collisions or theft. 

Additional Factors That Affect Your Range Rover Insurance Premiums

The following will also be taken into consideration when setting your car insurance premium.

  • Safety features like anti-theft devices
  • Your age
  • Your gender
  • The deductibles you choose
  • Your credit rating

What Is the Average Cost to Insure a Range Rover?

If you want to drive a luxury vehicle, expect to pay luxury prices for car insurance. The average Range Rover driver will pay around $1,872 annually for the base model Range Rover. If you want to upgrade to a different model, you could be paying as much as $2,700 a year.

Average Insurance Price of Range Rover by Model
Range Rover $1,872
Range Rover Evoque $2,640
Range Rover Sport $2,724
Range Rover Velar $2,220

How Can You Save on Range Rover Insurance? 

Insurance companies offer plenty of ways to save you money on car insurance, including: 

Choosing a higher deductible may also help you save money on your monthly premiums.  

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Top Insurance Companies That Insure the Range Rover

No two insurance companies are exactly alike, meaning it’s important to select an insurer that fits your needs. The U.S. Independent Insurance Agent Satisfaction Study by J.D. Power awarded the following companies high marks: 

  1. Auto-Owners Insurance
  2. Progressive
  3. Safeco
  4. Travelers

Your independent insurance agent will help you shop for coverage and find a company that meets your needs as a driver.  

Where to Find Range Rover Insurance

There is no way around the fact that the Range Rover is expensive to insure. These vehicles are loaded with expensive components, making them costly to repair, and insurers are going to pass that expense along to you via higher premiums. 

Luckily, a Trusted Choice agent can help you navigate the various coverage possibilities and find a great price on Ranger Rover insurance that also fits your budget. 

Let an independent insurance agent do the legwork for you and present you with the best options for insurance on your Range Rover at an affordable price.

 Contact an independent agent now to find the right coverage for your Range Rover.

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