Range Rovers becoming uninsurable in London?

[NomduJour]

London prices are still completely insane on the comparison sites (for me, at least).

[Phil.]

GR_TVR said:

I've ordered a new FFRR D350 Autobiography - at the moment insurance quotes are around £1,080.

Mid thirties, south Northants, 10 years NCB, no claims/points.

Happy with that, I paid more for my used Sport in 2018!

You can pick up a new FFRR now at a big discount if you want to speak to a few dealers. No need to pay retail any more.

[Boleros]

Phil. said:

You can pick up a new FFRR now at a big discount if you want to speak to a few dealers. No need to pay retail any more.

When you say big, how big? Idly curious.

[Phil.]

Boleros said:

Phil. said:

You can pick up a new FFRR now at a big discount if you want to speak to a few dealers. No need to pay retail any more.

When you say big, how big? Idly curious.

24%/£26k being reported in the FFRR forum. New RR’s are just staking up at dealers presently. If I didn’t already have a one year old FF I’d be buying one

[Wheelspinning]

Phil. said:

Boleros said:

Phil. said:

You can pick up a new FFRR now at a big discount if you want to speak to a few dealers. No need to pay retail any more.

When you say big, how big? Idly curious.

24%/£26k being reported in the FFRR forum. New RR’s are just staking up at dealers presently. If I didn’t already have a one year old FF I’d be buying one

I posted on another thread on here that I was offered a May 23 plated 510e SV last week for £118k that owner paid £167k for....I declined asking feel it still has a decent drop in it.

Entering the reg on WBAC offered £89k

[Boleros]

Bloody hell. Confess I’m a bit surprised. I know that cars in general can be discounted quite heavily when they’re not moving quickly (or as an incentive) but still surprised at a FFRR being discounted so heavily.

[Mikebentley]

As this is a thread about insurance I saw a YouTube video where a guy was repairing an accident damaged Defender. He showed footage of a JLR dealer in Derby who was flooded with seemingly hundreds of nearly new and unregistered vehicles being written off. Many RR had to be registered so the salvage company could buy them and them be written off. Surely an event like this would cause the algorithm they use to hike everyone’s insurance.

[2.5pi]

GR_TVR said:

I've ordered a new FFRR D350 Autobiography - at the moment insurance quotes are around £1,080.

Mid thirties, south Northants, 10 years NCB, no claims/points.

Happy with that, I paid more for my used Sport in 2018!

Be interested to hear who the insurance company is …

[Saweep]

Boleros said:

Bloody hell. Confess I’m a bit surprised. I know that cars in general can be discounted quite heavily when they’re not moving quickly (or as an incentive) but still surprised at a FFRR being discounted so heavily.

It's always been the way though, historically.

The covid blip was just that, and it's back to business as usual.

[ettore]

Mikebentley said:

As this is a thread about insurance I saw a YouTube video where a guy was repairing an accident damaged Defender. He showed footage of a JLR dealer in Derby who was flooded with seemingly hundreds of nearly new and unregistered vehicles being written off. Many RR had to be registered so the salvage company could buy them and them be written off. Surely an event like this would cause the algorithm they use to hike everyone’s insurance.

On what basis where they being written off?

[Harry H]

Wheelspinning said:

I posted on another thread on here that I was offered a May 23 plated 510e SV last week for £118k that owner paid £167k for....I declined asking feel it still has a decent drop in it.

Entering the reg on WBAC offered £89k

That sounds about right. WBAC will want to make a few quid when sticking it in the auction and the dealer who buys it will want his mark up too.

[MrBig]

Wheelspinning said:

I posted on another thread on here that I was offered a May 23 plated 510e SV last week for £118k that owner paid £167k for....I declined asking feel it still has a decent drop in it.

Entering the reg on WBAC offered £89k

What I don't understand is why there are people still surprised about this. The market was artificially pumped after covid and the semiconductor shortage, demand was off the scale, supply was limited, interest rates were creeping up, so was the cost of living. Was it not obvious there would a significant correction? Still the dealers did alright though

[camel_landy]

ettore said:

Mikebentley said:

As this is a thread about insurance I saw a YouTube video where a guy was repairing an accident damaged Defender. He showed footage of a JLR dealer in Derby who was flooded with seemingly hundreds of nearly new and unregistered vehicles being written off. Many RR had to be registered so the salvage company could buy them and them be written off. Surely an event like this would cause the algorithm they use to hike everyone’s insurance.

On what basis where they being written off?

Many of them had been under water!! Not just their stock but customer cars too... Google "jaguar land rover derby flood" and you'll see.

As for the YouTube vid, I'm assuming it's Dean from the Saving Salvage channel. The Defender he bought had light front end damage. He was able to buy the required body parts from one of these brand new, flood damaged cars, which even had factory fresh matching paint and saved a significant amount of time & money.

M

[GR_TVR]

2.5pi said:

GR_TVR said:

I've ordered a new FFRR D350 Autobiography - at the moment insurance quotes are around £1,080.

Mid thirties, south Northants, 10 years NCB, no claims/points.

Happy with that, I paid more for my used Sport in 2018!

Be interested to hear who the insurance company is …

Two cheapest were Admiral at £1,038 and Ford Insure at £1,080 (obtained through confused.com).
That's for 15k miles a year.

[Wheelspinning]

camel_landy said:

ettore said:

Mikebentley said:

As this is a thread about insurance I saw a YouTube video where a guy was repairing an accident damaged Defender. He showed footage of a JLR dealer in Derby who was flooded with seemingly hundreds of nearly new and unregistered vehicles being written off. Many RR had to be registered so the salvage company could buy them and them be written off. Surely an event like this would cause the algorithm they use to hike everyone’s insurance.

On what basis where they being written off?

Many of them had been under water!! Not just their stock but customer cars too... Google "jaguar land rover derby flood" and you'll see.

As for the YouTube vid, I'm assuming it's Dean from the Saving Salvage channel. The Defender he bought had light front end damage. He was able to buy the required body parts from one of these brand new, flood damaged cars, which even had factory fresh matching paint and saved a significant amount of time & money.

M

[Louis Balfour]

MrBig said:

What I don't understand is why there are people still surprised about this. The market was artificially pumped after covid and the semiconductor shortage, demand was off the scale, supply was limited, interest rates were creeping up, so was the cost of living. Was it not obvious there would a significant correction? Still the dealers did alright though

It was fun whilst it lasted, watching my cars increase in value monthly. They are worth less than I paid now, but that is some four years after I bought a couple of them.

[NomduJour]

MrBig said:

What I don't understand is why there are people still surprised about this. The market was artificially pumped after covid and the semiconductor shortage, demand was off the scale, supply was limited, interest rates were creeping up, so was the cost of living. Was it not obvious there would a significant correction? Still the dealers did alright though

The reason LR stuff has been hit so particularly hard is down to insurance, because that’s the variable. Ask a dealer.

[EdJ]

Wheelspinning said:

I posted on another thread on here that I was offered a May 23 plated 510e SV last week for £118k that owner paid £167k for....I declined asking feel it still has a decent drop in it.

Entering the reg on WBAC offered £89k

I don't find that drop hugely surprising. The car is a year old, and we all know the depreciation curve is steepest in the first year. The 510e is now a 550e which probably doesn't help either.

The SV Range Rovers are very expensive and don't IMO give a huge level of value add over the Autobiography trim level.

The WBAC quote is punchy, I agree!

[KungFuPanda]

Picking up a 2018 Vogue SE next week. Cost to change the insurance with six months to run in my existing policy is £240. This was a policy on a 2014 BMW X6 which I paid £1000 up front.

A quick search on the comparison sites currently indicate a cost of roughly £1800 for the full year. 44 years old, clean license, no accidents, 20 years NCB and a Manchester City Centre postcode. Not too bad in my view.

[Mikebentley]

Wheelspinning said:

camel_landy said:

ettore said:

Mikebentley said:

As this is a thread about insurance I saw a YouTube video where a guy was repairing an accident damaged Defender. He showed footage of a JLR dealer in Derby who was flooded with seemingly hundreds of nearly new and unregistered vehicles being written off. Many RR had to be registered so the salvage company could buy them and them be written off. Surely an event like this would cause the algorithm they use to hike everyone’s insurance.

On what basis where they being written off?

Many of them had been under water!! Not just their stock but customer cars too... Google "jaguar land rover derby flood" and you'll see.

As for the YouTube vid, I'm assuming it's Dean from the Saving Salvage channel. The Defender he bought had light front end damage. He was able to buy the required body parts from one of these brand new, flood damaged cars, which even had factory fresh matching paint and saved a significant amount of time & money.

M

I saw the footage of the cars in the flood water. It was at around door handle height on a RRS. What damage in reality could it have caused to cars with 700 m wading capability ? I understand standing water is different but these cars were static. It’s very sad to see the footage as some of these were unregistered and needed registering just to be sold as salvage. They had zero miles on them. The point I made earlier is that these must have affected JLR insurance scores as £10 million + of JLR product was written off.