If you’ve had your vehicle stolen, you have our sympathies. It’s frustrating and costly. Every year, automobile theft costs Canadians upwards of $1 billion. This includes over half a billion for insurers and $250 million for the criminal justice and health care systems. Automobile theft isn’t just costly for the vehicle owner or insurance company, it’s costly to society in general.
Why A Vehicle is Targeted
There can be many reasons why a vehicle is targeted by a thief, but generally, there are four reasons:
- To commit another crime: Thieves will often steal a vehicle in order to commit another, more serious, crime. These vehicles are usually abandoned within 48 hours and are often left badly damaged.
- For a “joyride”: A vehicle may be stolen for the simple fact that a thief has to get somewhere or they’re looking for a thrill.
- To sell: A stolen vehicle can be given a false VIN and then sold as-is to unsuspecting consumers, or be torn apart and sold for parts.
- To sell abroad: Often, a vehicle will be immediately shipped abroad after it’s stolen. The vehicle can fetch a much higher price in some countries than the original market value.
The 10 Most Stolen Vehicles in Ontario in 2019
One of the factors insurers use to determine your insurance premium is by how often your make and model of vehicle is stolen. Every December, the Insurance Bureau of Canada releases its list of the top 10 stolen vehicles in Canada and within select provinces based on insurance claims data.
In 2019, the top 10 stolen vehicles in Ontario were:
- 2014 Land Rover Range Rover Sport 4DR 4WD
- 2018 Lexus RX350/RX350L/RX450h/RX450hL 4DR AWD
- 2011 Land Rover Range Rover Sport 4DR 4WD
- 2005 Chevrolet/GMC Tahoe/Yukon 4DR 4WD
- 2016 Land Rover Range Rover 4DR 4WD
- 2002 Chevrolet/GMC Tahoe/Yukon 4DR 4WD
- 2004 Chevrolet/GMC Suburban/Yukon XL 1500 4DR 4WD
- 2006 Chevrolet/GMC Silverado/Sierra 2500 4WD
- 2005 Chevrolet/GMC Suburban/Yukon XL 1500 4DR 4WD
- 2018 Toyota 4Runner 4DR 4WD
Whether your vehicle was included in the list or not, it’s still important to deter thieves. Some simple steps to do so include:
- Park in well-lit areas
- Always lock your doors
- Store valuables out of sight
- Have a car alarm
- Utilize an anti-theft device like a steering wheel lock
Some of these steps, like an alarm or anti-theft device, can even save you on your insurance costs.
Even if you’ve taken all the necessary precautions, auto theft can still happen, and it’s important that you have the right coverage in case it does. Contact a Regal Insurance broker today to discuss your auto insurance.