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Your Car Could Be a Target for Theft

Your Car Could Be a Target for Theft

Auto theft is affecting Canadians across the country. Vehicle thefts have risen in Ontario, Quebec, Atlantic Canada, and Alberta. Is your car a target for theft?

Car theft does more than impact the owner. The overall impact of car theft is helping to push up car insurance premiums. Canada’s private auto insurers paid out $1.2 billion in theft claims in 2022. Car theft insurance claims in 2023 were on pace to exceed that number and 2024 isn’t looking any better.

The type of car you drive, unfortunately, can make it a magnet for thieves.

Top 10 vehicles for thieves – 2023 report

  1. The Honda CR-V SUV (2020 model) was the #1 most stolen vehicle in Canada.
  2. Dodge RAM 1500 truck series truck (2022)
  3. Ford F-150 (2020)
  4. Lexus RX Series (2020) SUV
  5. Toyota Highlander (2021) SUV
  6. Honda Civic (2019) Sedan
  7. Jeep Grand Cherokee (2021) SUV
  8. Land Rover Range Rover (2020) SUV
  9. Chevrolet/GMC Silverado/Sierra 1500 truck series (2006)
  10. Jeep Wrangler (2021) SUV

A recent study finds more than 80% of Canadians say the rise in auto theft makes them concerned about the increase in crime in their community.

Did you know that switching your car insurance is easy and helps you save? When you switch your car insurance to Western Financial Group you can save up to 30%

Canada’s 10 least most stolen vehicles – 2023 report

  1. Chevrolet Volt
  2. Kia Niro 5DR
  3. Cadillac XT5
  4. Buick Envision
  5. Mini Cooper Countryman
  6. Volvo CX90
  7. Volkswagon Beetle
  8. Chevrolet Corvette
  9. Hyundai Ioniq
  10. Mazda Mazda2

Did you know? Car thieves will typically avoid stealing vehicles that have built-in anti-theft systems, have a lower resale value, are in low demand overseas, or are in low supply and harder to find.

Are electric vehicles (EVs) a target for theft?

Electric vehicles (EVs) or hybrids aren’t common targets for thieves – yet- because there is lower demand for them in other parts of the world. That makes it difficult to resell these vehicles for a profit. There’s also a lower supply of EVs and hybrids to steal compared to popular gas-powered vehicles.

How to protect your car from theft

  • Use a steering wheel lock
  • Car alarms – many new vehicles come with a factory-installed security system
  • Lock your car
  • Don’t leave valuables in your car
  • Park in lighted areas at night
  • Do not leave your car unattended with the engine running.

Remember: Add layers of security instead of just relying on one measure to boost your car’s security.

Ask your Western Financial Group car insurance expert about possible discounts for safety features on your car.

Does your insurance cover a stolen car?

It’s important to know that theft coverage is not included in basic car insurance.

To keep your car secure against theft, you need to opt into one or all of the following additional insurance coverages:

Comprehensive insurance: Comprehensive insurance helps secure your car against theft.

Comprehensive insurance will help:

  • Replace a stolen car
  • Replace parts that are stolen or damaged
  • Repair damages to your car from theft or a break-in

Specified Perils: If you don’t want to add comprehensive insurance but you still want to secure your car from theft, you can add a specified peril such as theft.

All perils insurance: It’s also known as “all risk” insurance. It combines comprehensive and collision insurance and it’s usually expensive.

Collision insurance is an optional insurance that helps cover the costs of damage if your car is in an accident by hitting another car or object.

Comprehensive insurance helps replace a stolen vehicle and also helps cover theft, vandalism, damage from collision with wildlife, broken or shattered windows and a cracked windshield, natural disasters, and weather.

All perils insurance provides drivers with coverage against the majority of insured perils.

What if your stolen car isn’t recovered?

If you’ve secured your car against theft with the insurance and it’s stolen but not recovered, it will be considered a total loss.

You will work with your insurance provider to agree on the market value or actual cash value (ACV) that would be paid out to you.

You will not be reimbursed for the original value of the vehicle or the cost of a replacement vehicle.