Every driver in Canada needs to have vehicle insurance. Most know that this type of insurance can be expensive. It is because there are many different factors involved. Ones that the Insurance Companies have to think about. They have to consider anything that is going to put them at risk. The risk is that they would have to pay money out on a claim. One of the many risks considered is vehicle theft.
To determine their risks Insurance companies use different metrics. They will rely on all kinds of data. One part of this is data on car theft. They want to know which vehicles are more at risk to be stolen.
The data they will use is that prepared by the government officials for statistics. Plus, they will use their internal data based on claims for theft. It is not difficult for them to come to conclusions about which vehicles are more prone to putting them at risk.
What Are Vehicle Thieves Looking For?
For thieves, it is all about risk too. They are not going to risk getting caught over stealing an item that has no value. So most will think that the thieves will only go after the most expensive high-end items. What they do go after with vehicles is surprising for some. It is important to understand what the insurance companies are looking for. It is easier understood when one knows what the intentions of vehicle thieves are.
Joy Riders
There are those who steal cars for the thrill of it. They want to take the car for a joy ride. Then after a period, they will abandon the vehicle. Most often it’s found abandoned by the Police. The vehicle eventually gets returned to the owner. In what shape it will be in is another story. Some joy riders have no driving experience. They end up crashing the vehicle which means now the car has some form of damage. Or they will vandalize the vehicle which again means the vehicle will need some repairs.
Parts Selling
There are other car thieves that see the vehicle as a money source. They don’t have the contacts to be able to sell the vehicle as is. So instead they will strip it down and sell the parts. They may sell these to unscrupulous repair garages. Or they may sell them to scrap yards. They are not making big bucks for each part. But selling enough of them brings them in a fair amount of money.
Car Selling
Those thieves that are into car selling are playing in a bigger criminal field. They are often part of organized car rings. Car stolen in this case get shipped out of the country. It is not just a once in a while thing either. The Canada Border Services Agency intercepted a shipment of stolen vehicles. This took place in April 2017.
The shipment contained 19 vehicles. The total contents had a value at $650K. So it is easy to see that there is money to be made in car theft in this realm. It is also easy to see how this affects everyone. Not just those who are the car owners. It affects premiums across the board. As they pertain to cars classed as vulnerable to theft.
The Top Ten List of Stolen Cars
The following list of top stolen cars for 2017 for across Canada. It’s not just the latest most high-end vehicles that attract the attention of the thieves. Also, the list will change for the specific provinces. The Insurance Companies will look at the across Canada list. Then they will most likely look at the list for a specific province.
- 2015 Lexus GX460 4DR AWD SUV
- 2007 Ford F350 SD 4WD PU
- 2006 Ford F350 SD 4WD PU
- 2005 Ford F350 4WD PU
- 2001 Ford F350 SD 4WD PU
- 2003 Ford F350 SD 4WD PU
- 2004 Ford350 SD 4WD PU
- 2016 Toyota 4 Runner 4DR 4WD SUV
- 2002 Ford F350 SD 4WD PU
- 2006 Ford F250 SD 4WD PU
Why Vehicle Theft is Important To You
Getting the best rates on your insurance partly takes place by having good knowledge. Knowing which vehicles are at high risk for anything is good to know. It can help you with your vehicle buying decision. You may still want to buy one of the vehicles on the vulnerability list. Which you should if that is what you want. You shouldn’t let car thieves deprive you of the joy of owning your favorite vehicle. But, you need to be ready to pay higher premiums.
The ideal way to shop for Insurance is by getting a selection of quotes. Then you can take these quotes and narrow them down. Don’t just look at what the cost of the premiums is going to be. Then just choose the lowest. You want to do a little more research. You can do this by asking the proper questions. Questions that you can present to the specific insurance companies.
Keep in mind that part of the cost of the quote depends on the type of vehicle you are driving. If a premium is higher than you expected it could be because of the vehicle. It may be one of the vulnerabilities listed on the theft list. Knowing this explains why your premiums may be a little higher. Quite often when an individual is renewing their insurance, it can cause some confusion. It may be that with the renewal a new vehicle has been bought. It could be one of those at high risk for theft. So, the insurance premiums have gone up.
Taking Extra Precautions
Being knowledgeable about the stolen car list is helpful in other ways. If your vehicle is on the list, then you know you have to be extra cautious because of the risk. You can do this by being careful where you leave the vehicle unattended. Instead of leaving it in your driveway, park it in your garage. Or, when parking in a public parking lot, park in the more visible areas. At night in this situation park the vehicle where there is the most light.
Awareness about your vehicle insurance can be beneficial in many different ways.
About the Author: Ashley Miller
