National Auto Theft Claims – Half Year Data (CNW Group/Insurance Bureau of Canada)
Insurance claims for auto theft dipped slightly (19%) during the first half of the year, although they have risen 138% over the past decade as the value of auto theft claims jumped a significant 442% over the same period.
That is according to data released by the Insurance Bureau of Canada (IBC), which found that Ontario (-16%) and Québec (-41%) saw decreases in the number of theft claims in the first half of 2024. However, Alberta (1%), New Brunswick (14%), and Nova Scotia (27%) were all up.
In a statement, IBC’s Vice-President of Strategy Liam McGuinty said that, while the frequency of auto theft has dropped slightly in the first six months of 2024, “the problem remains significantly above historical trends.” He added that “concerted actions by law enforcement, insurers, governments and drivers to combat theft are showing results, but more remains to be done.”
IBC said in a news release that regional differences in auto theft, between certain provinces, are due to the opportunistic nature of car thieves, who are now shifting their focus away from Ontario and Québec. Law enforcement, they noted, has invested significantly in combating auto theft, toward western and Atlantic provinces. The value of auto theft claims in Alberta, for example, jumped 11% since 2023, and has grown 179% over the last 10 years.
“The auto theft crisis continues to negatively impact Canadians’ pocketbooks and their sense of safety,” said McGuinty in a statement. “The property and casualty insurance industry remains committed to working alongside all orders of government and stakeholders to continue to address the national auto theft crisis.”
