Car insurance for Jaguars

Everyone wants cheap car insurance but if you’re driving a vehicle from a luxury car manufacturer like Jaguar is it possible to get an affordable deal?

How much does it cost to insure a Jaguar?

All motorists must have car insurance to legally drive on the UK’s roads. However, there can be substantial differences in the quotes you receive because of the criteria companies use to assess your premiums. Typically, a car insurer will consider the vehicle you drive; your driving history; your personal circumstances; your address; and your annual mileage – the higher the risk you are deemed to pose, the higher your premiums will be.

In terms of assessing the vehicle that you drive, insurers will look at repair costs, how much parts cost to replace, engine size, security features and more. The Association of British Insurers has put together a database ranking vehicles in groups from 1-50 (previously 1-20) based on how much they cost to insure – the lower the group, the lower the premium.

Jaguars are relatively costly to insure because they are often expensive to repair/replace and usually feature powerful engines. However, there can be significant differences between how much it costs to insure a Jaguar based on the model you choose – it can be well worth factoring in insurance costs before you buy.

For example, a Jaguar XKR Convertible, produced from 2002-2006, pays the price for its powerful 4,196cc engine because it is ranked in group 50 – the highest insurance group. By contrast, the Jaguar X-Type 1, produced from 2001-2004 has a much smaller engine at 2,099cc and is subsequently ranked in a much lower insurance group – 29. Therefore, unless you plan to make full use of a vehicle’s power capacity it can often be better to opt for a less powerful model.

Where can you get car insurance for a Jaguar?

The key when shopping for car insurance for a Jaguar, as with any model, is to compare rates from as many insurers as possible. A comparison website is a great place to start as in some cases they can compare deals from more than 120 insurance companies with a single search.

However, as a Jaguar driver you may also be able to take advantage of several specialist forms of insurance:

- Classic car insurance: If your Jaguar was built prior to 1975, such as an early Jaguar E Type or MK 10, then it may qualify for classic car insurance (some later Jaguar models may also qualify if they are considered ‘cherished’ models). Classic car insurance often has a number of advantages such as agreed valuations, so you know what your Jaguar is worth in case it is ever written off or stolen; and laid-up insurance, which offers protection against mishaps and theft if your Jaguar is a project that you are working on. There can also be a number of discounts offered such as agreed mileage discounts and discounts if you are a member of an owners’ or manufacturers’ club.

- Performance car insurance: If you own a particularly powerful Jaguar model, then consider looking for performance car insurance which is designed for owners of vehicles with high performance engines. These specialists often claim they can offer cheaper deals because they recognise that owners of high performance cars often take better care of their vehicles. Again there may be specialist features available such as agreed valuations; and discounts, such as advanced driving course discounts, owners’ club discounts and agreed mileage discounts.

Crucially, while these specialist policies are well worth considering you should still consider deals from conventional insurers to ensure you’re receiving value for money. Remember to examine the terms and conditions of any policy you are interested in to ensure it offers the policy features you expect.

How can you save money on car insurance for a Jaguar?

As insurers base premiums on risk levels, reducing this perceived risk could lower your premiums – here are some tips:

- Agree to a mileage cap: The fewer miles you drive, the less risk of an accident occurring, so consider agreeing to a mileage cap.

- Boost security: Consider investing in car alarms, immobilisers and tracking devices which could potentially cut your premiums by reducing the risk of theft. You can also benefit by parking your Jaguar in a locked garage overnight.

- Drive safely: Most insurers offer no-claims bonuses which could reduce premiums by as much as 60 per cent if you stay claim-free for four or more years.

- Increase your excess: The excess is your contribution to a claim – increasing it can lower premiums, but be careful to keep it at an affordable level.

- Join an owners’ club: Some specialist insurers offer discounts if you join an owners’ or manufacturers’ clubs believing that members typically take better care of their vehicles.

- Take an advanced driving course: Completing an advanced course such as the Pass Plus or IAM will lower your premiums with some insurers.