Purchasing a new or used car can be exciting, and a critical part of the buying process is finding out what the best car insurance is to financially protect it (and yourself). The national average cost of car insurance is $1,674 per year for full coverage, according to Bankrate’s 2021 study of quoted annual premiums. This average is a great starting point for a basic car, but luxury vehicles like the Land Rover Range Rover may cost more to insure.
Your personal and household criteria are used to determine how much you will pay for car insurance. This includes all household drivers accident and ticket history, where you live and the types of coverages you need to insure your car. The type of car you drive can also have an impact on your car insurance costs. The make and model you choose can make or break a new car purchase, especially if you have a specific budget for the car and insurance payment. For range rover insurance, rates below reflect quoted annual premiums from Quadrant Information Services.
Models included in this review:
For this review, the Land Rover Range Rover is featured.
How much does it cost to insure a Range Rover?
With a high retail value and cost to repair, the average cost to insure a Range Rover compared to other makes and models may be higher. Nationally, the average annual cost of car insurance is $1,674 for full coverage on a 2019 Toyota Camry. Compared to a Camry, with a base price of $25,050, a 2019 Range Rover costs an estimated $90,795 MSRP. With these prices in mind, the cost to insure a Range Rover will be higher than a Toyota Camry of the same year.
While the make and model of the car, plus the retail value and cost to repair factor into the cost of car insurance, they are not the only factors considered. Here are a few other criteria used by insurance companies to determine the base pricing for a particular make and model:
- Price of parts: As a luxury SUV, the price of parts to repair the Range Rover will typically be higher than the average car. This is one of the reasons why a luxury car is more expensive to insure than a more economical car.
- Safety features: Generally, the more safety features a car has, the lower the cost can be to insure it. The Range Rover has standard features like front and passenger airbags, traction control and emergency braking, which can potentially help offset the cost of insuring it.
Car insurance for a Range Rover
The cost for Range Rover car insurance is about $1,000 higher than the national average cost for full coverage car insurance. For comparison purposes, Bankrate reviewed quoted annual premiums for both minimum and full coverage for a sample driver shopping for insurance on a 2019 Range Rover. The rates shown here may be different from the rates you receive, as they are based on personal data like your driving record, age, location and coverage choices.
The average annual rate for Range Rover minimum coverage is $514, while full coverage insurance costs around $2,657 a year. Full coverage insurance provides financial coverage for physical damage for the Range Rover, whereas minimum coverage does not. It is recommended to consider the cost of a 2019 Range Rover and whether you can afford to fix it or replace it out of pocket when discussing with an insurer which coverage is the best for you.
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Cheapest car insurance companies for Range Rovers
The best way to find the cheapest car insurance company for your Range Rover is to shop for quotes. We compared rates from the largest car insurance companies based on market share to illustrate the potential savings. For our sample driver, Amica has the cheapest car insurance rates for a Range Rover, while Erie has the highest costs for car insurance per year. However, the rate you pay for a Range Rover may differ from these averages, as determined by your driving history, location and other factors.
Average annual premium for full coverage by model
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Range Rover features that impact insurance costs
When purchasing a Range Rover, the cost of car insurance can be lowered by certain features, especially safety features. The Range Rover has several standard safety features that could affect your car insurance rates:
- Airbags: Having driver and passenger airbags are one way the cost of insuring a Range Rover can be affected. The airbags protect the occupants in the front, which can lower the cost of a claim for injuries.
- Electronic traction control: This feature helps to stabilize the Range Rover and improve traction, applying the brakes if needed to help the driver stay in control of the vehicle and limit the chances of causing an accident.
- Emergency brake assist: If you apply the brakes quickly, the Range Rover will apply greater pressure on the anti-lock braking system, helping you to come to a complete stop faster. This feature can lower the risk of an accident and may save you on your car insurance premiums.
- Emergency braking: This safety feature can reduce the risk of an accident or the severity of it by applying the brakes if sensors detect another vehicle or person.
Other car insurance coverage for a Range Rover
Though minimum liability coverage can be more affordable on a monthly payment basis, Range Rover owners may prefer to consider higher liability limits. Purchasing as much liability insurance as you can reasonably afford provides better protection for your finances in the long run, especially if you are involved in an at-fault accident, and is recommended by most insurance experts. The higher your liability limits, the less likely you will be out-of-pocket if you are sued for injuries or damages you cause in an accident.
Range Rover drivers may also want to consider other car insurance coverages to protect their investment:
- Collision: This coverage pays to fix your Range Rover if it is damaged in an accident, regardless of who is at fault. Without collision coverage, you will have to pay to fix damages to your Range Rover out of pocket, or replace it if the damage is enough to total it.
- Comprehensive: This physical damage coverage pays for damages that are not covered under collision coverage such as weather events, hitting an animal, broken glass, vandalism and theft of your Range Rover.
- Gap insurance: If you get into an accident and your new Range Rover is totaled, the actual cash value may not match the amount you financed. If you owe more than it is worth to replace and total the vehicle, gap insurance will pay the difference between your insurance payout and your outstanding loan.
- New car replacement: If you buy a new Range Rover and it is totaled in a covered accident, new car replacement coverage will pay you the value of a brand new Range Rover, rather than the depreciated value of your slightly older model.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Land Rover Range Rover, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.