2007 Land Rover Discovery: it'll cost more
Insurers plan to penalise SUVs by adding a vehicle's weight to the factors they use to calculate motoring insurance premiums.
It means for example that the premiums for SUVs such as the VW Touareg and Land Rover Discovery will be pushed into an even higher price bracket.
According to the FT, the Association of British Insurers sees weight as a contributing factor to the risk of a payout, because of the higher likelihood of injury to third parties.
Admiral's underwriting director David Stephens said that he expected "a substantial increase" in premiums, with rises as high as 15 to 20 per cent for the heaviest motors.
It's all part of the ABI's increase in insurance categories from today's 20 up to 50.
Maybe the risks are higher -- unless you're an underwriter it's hard to know. But while pressure to reduce the weight of today's increasingly bulky cars is welcome, it's hard not to be cynical about a move that doesn't reduce premiums for lighter cars such as the Lotus Elise.
It's also hard to wonder just how much difference it'll make. In its latest financial newsletter, out today, Porsche said it was expecting runaway sales of the new Cayenne. And one SUV dealer, Wimbledon 4x4, has just reported its best sales month ever, with the group saying that it didn't expect an extra £50 a month on insurance to affect the sales of a £30,000-plus SUV.
As ever, you'd have to suspect that the main winners will be the insurance companies.
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