If you’re in the market for a Range Rover, you’re probably wondering how much it will cost to insure. Car insurance rates can vary widely depending on a variety of factors, such as your driving record, age, and location. But when it comes to insuring a Range Rover, you can expect to pay more than the average car insurance premium.
How much is insurance on a Range Rover? The average insurance cost for a Range Rover as of 2023 is around $2,145 per year, about 27% more than the national average car insurance cost.
So how can you find the best insurance rates for your Range Rover? It’s important to shop around and compare quotes from multiple insurance companies.
When choosing an insurance policy, you may also want to consider factors such as deductibles, coverage limits, and additional benefits.
Factors affecting insurance rates for Range Rovers
When it comes to insuring your Range Rover, there are several factors that will determine the cost of insurance. These include:
Location
Your location can have a significant impact on your insurance rates. For example, if you live in a high-crime area or an area prone to natural disasters, your rates may be higher.
Driving record
Your driving record is another important factor that insurance companies consider when determining your rates. If you have a history of accidents or traffic violations, you can expect to pay more for insurance.
Trim
The trim level of your Range Rover can also affect your insurance rates. Higher-end trims may be more expensive to insure due to their higher value.
Safety features
Range Rovers come equipped with a variety of safety features that can help lower your insurance rates. For example, features like lane departure warning and air bags can help reduce the risk of accidents and injuries, which can lead to lower rates.
Model year
The model year of your Range Rover can also impact your insurance rates. Newer vehicles may be more expensive to insure due to their higher value, while older vehicles may be more expensive to insure due to their increased risk of breakdowns and repairs.
Credit rating
Your credit rating can also play a role in your insurance rates. Insurance companies may view individuals with lower credit ratings as higher risk, which can lead to higher rates.
Gender
Gender can also be a factor in insurance rates. In some states, men may pay higher rates than women due to statistical data that suggests men are more likely to be involved in accidents.
It’s important to keep in mind that these factors can vary depending on your specific situation and the insurance company you choose. To get the most accurate quote for your Range Rover insurance, it’s best to shop around and compare rates from multiple providers.
Types of coverage for Range Rovers
When it comes to insuring your Range Rover, there are several types of coverage to consider. Each type of coverage offers different levels of protection and comes with its own set of benefits and drawbacks. Here are the most common types of coverage for Range Rovers:
Liability coverage
Liability coverage is the most basic type of car insurance and is required in most states. It covers the costs of damages and injuries you cause to others in an accident. This includes medical bills, property damage, and legal fees if you are sued. However, liability coverage does not cover damage to your own vehicle or injuries you sustain in an accident.
Full coverage
Full coverage is a combination of liability coverage and comprehensive and collision coverage. Comprehensive coverage pays for damages to your vehicle from non-collision events such as theft, vandalism, or weather-related incidents. Collision coverage pays for damages to your vehicle from collisions with other vehicles or objects. Full coverage is more expensive than liability coverage but provides greater protection for your vehicle.
Deductibles
A deductible is the amount you pay out of pocket before your insurance coverage kicks in. For example, if you have a $500 deductible and your vehicle sustains $1,000 in damages, you would pay $500 and your insurance would cover the remaining $500. Choosing a higher deductible can lower your insurance premiums, but it also means you will have to pay more out of pocket if you get into an accident.
Minimum coverage
Minimum coverage is the minimum amount of car insurance required by law in your state. This usually includes liability coverage only. While minimum coverage is the cheapest option, it provides the least amount of protection for your vehicle and does not cover injuries you sustain in an accident.
Insurance companies for Range Rovers
Average rates
When it comes to insuring your Range Rover, the average annual rate for minimum coverage is around $514, while full coverage insurance costs around $2,657 a year. However, rates can vary depending on the state you live in, your driving record, and other factors. On average, Range Rover owners can expect to pay an average of $1,900 annually or $158 on a monthly basis for coverage.
Top insurance companies
When looking for an insurance company for your Range Rover, there are several top options to consider. State Farm, Geico, and Progressive are three of the largest insurance providers in the US and offer coverage for Range Rovers in most states. Farmers, Nationwide, Discover, Erie, Allstate, and USAA are also popular options to consider.
State Farm is known for its excellent customer service and offers a range of discounts to help you save on your insurance premium. Geico is known for its affordable rates and user-friendly website, while Progressive offers a variety of coverage options and discounts for safe drivers. Farmers and Nationwide are also popular options for Range Rover owners, offering comprehensive coverage and competitive rates. Discover, Erie, Allstate, and USAA are also worth considering, as they offer a range of coverage options and discounts for safe drivers and military members.
When choosing an insurance company for your Range Rover, it’s important to shop around and compare rates and coverage options. By doing your research and choosing a reputable insurance provider, you can ensure that you have the coverage you need to protect your investment and stay safe on the road.
Comparison with other luxury SUVs
When it comes to luxury SUVs, the Range Rover is just one of many options available to you. If you’re considering purchasing a luxury SUV, you may be wondering how the Range Rover stacks up against other similar models in terms of insurance costs. Here’s a breakdown of how the Range Rover compares to other luxury SUVs:
Audi
The Audi Q7 is a midsize luxury SUV that is comparable to the Range Rover in terms of size and features. According to national average insurance rates, the Q7 costs around $1,800 per year to insure for a rated driver, which is slightly less than the Range Rover’s average insurance cost of $1,872 per year.
BMW
BMW offers several luxury SUVs, including the X5 and the X7. The X5 is a midsize SUV that is similar in size to the Range Rover, while the X7 is a full-size SUV that is slightly larger. According to national average insurance rates, the X5 costs around $1,650 per year to insure for a rated driver, while the X7 costs around $1,800 per year. This makes both BMW models slightly less expensive to insure than the Range Rover.
Volvo
The Volvo XC90 is a midsize luxury SUV that is similar in size to the Range Rover. According to national average insurance rates, the XC90 costs around $1,500 per year to insure for a rated driver, which is significantly less than the Range Rover’s average insurance cost of $1,872 per year.
Mercedes-Benz
Mercedes-Benz offers several luxury SUVs, including the GLE and the GLS. The GLE is a midsize SUV that is similar in size to the Range Rover, while the GLS is a full-size SUV that is slightly larger. According to national average insurance rates, the GLE costs around $1,650 per year to insure for a rated driver, while the GLS costs around $1,800 per year. This makes both Mercedes-Benz models slightly less expensive to insure than the Range Rover.
Acura
The Acura MDX is a midsize luxury SUV that is similar in size to the Range Rover. According to national average insurance rates, the MDX costs around $1,500 per year to insure for a rated driver, which is significantly less than the Range Rover’s average insurance cost of $1,872 per year.
Cadillac
The Cadillac Escalade is a full-size luxury SUV that is larger than the Range Rover. According to national average insurance rates, the Escalade costs around $1,800 per year to insure for a rated driver, which is slightly less than the Range Rover’s average insurance cost of $1,872 per year.
Infiniti
The Infiniti QX80 is a full-size luxury SUV that is larger than the Range Rover. According to national average insurance rates, the QX80 costs around $1,800 per year to insure for a rated driver, which is slightly less than the Range Rover’s average insurance cost of $1,872 per year.
Jeep
The Jeep Grand Cherokee is a midsize SUV that is similar in size to the Range Rover. According to national average insurance rates, the Grand Cherokee costs around $1,500 per year to insure for a rated driver, which is significantly less than the Range Rover’s average insurance cost of $1,872 per year.
Lincoln
The Lincoln Navigator is a full-size luxury SUV that is larger than the Range Rover. According to national average insurance rates, the Navigator costs around $1,800 per year to insure for a rated driver, which is slightly less than the Range Rover’s average insurance cost of $1,872 per year.
Nissan
The Nissan Armada is a full-size SUV that is larger than the Range Rover. According to national average insurance rates, the Armada costs around $1,500 per year to insure for a rated driver, which is significantly less than the Range Rover’s average insurance cost of $1,872 per year.
Subaru
The Subaru Ascent is a midsize SUV that is similar in size to the Range Rover. According to national average insurance rates, the Ascent costs around $1,500 per year to insure for a rated driver, which is significantly less than the Range Rover’s average insurance cost of $1,872 per year.
Last updated and verified on 4th September 2023
