What types of cars are the most stolen?
Most people would rather have a Mercedes than a Honda, but not if you’re a car thief. Of the $1 million cars that were stolen last year (2008) in the US, more than 55,000 were Honda Accords. This was reported by the National Insurance Crime Bureau.
Why? Are they more stylish than their competition, say the Lexus or the Mercedes? Is your performance better? Do they have more color options than thieves prefer? The answer to these questions is no. The reason for the Accord’s high theft rate is the lack of anti-theft coins. Without anti-theft technology, it’s easy to steal your parts. The most desirable are catalytic converters, tires, anything that contains copper. Toyota runs a close second.
The National Insurance Crime Bureau compiled a list of the 10 most frequently stolen vehicles in the US in 2008. Hondas were also on the list in 2008.
The top five are:
1. 1994 Honda Accord
2. 1995 Honda Civic
3. 1989 Toyota Camry
4. 1997 Ford F150 Series
5. 1995 Dodge Ram Pickup
What is also interesting are the lower frequencies of theft claims:
1. Ford Taurus
2.Pontiac Vibe 4wd
3.Buick Le Saber
4. Buick Park Avenue
The moral of the story is: don’t think you’re safe from theft just because you don’t have a $100,000 car. There are good news! Because theft is on the decline if this year’s trends hold (NCIC, a division of the FBI).
The FBI claims that between $7 and 8 billion is lost each year due to car theft. The sad thing is that approximately 58% of the vehicles are recovered.
Decreased theft rates
With the various technologies now on the market, it would make sense for the loss rate due to theft to decrease. Technology such as fuel shutoffs, smart keys, and audible devices help prevent theft. Another tool on the market is a tracking device: Lo Jack. Additionally, On Star offers a standard feature on 50 new GM vehicles to reduce theft. The system allows drivers to speak to the company at a central call center for emergency services to addresses. In fact, technology will help this costly loss trend.
How does this affect insurance?
Losses due to theft are covered by the Comprehensive Coverage of your auto insurance policy. The more thefts, the higher the cost of that coverage. Most companies offer a discount on comprehensive policy coverage if an anti-theft device is present.
Moral of the story
The most expensive vehicle is not always the most desirable. Different people value different things. Just watch out and be careful! To find out how much it would cost to get auto insurance for your car, fill out a quote form from Chicago Auto Insurance.