Factors Contributing to Stolen Vehicles
According to News Ontario, “In Ontario, a car is stolen every 48 minutes. From 2014 to 2021, there was a 72 percent increase in auto thefts across the province and a 14 percent increase in the last year alone”. Supply chain interruptions, international demand, new technologies and the growth of organized crime are just a few of the contributing factors to the increase in vehicle theft.
If you have parked at a hotel by the airport recently, you may have been advised by the hotel to take some additional security measures to prevent theft. Airport parking lots have become an easy target for theft as cars are often left unattended for extended periods of time without proper security measures. Thieves can easily break into these vehicles without using force.
Tips for Vehicle Owners
If you are a vehicle owner, there are things that you can do to help prevent your car from being stolen.
- Park in well-lit areas
- Always lock your doors
- Don’t leave valuables in your vehicle.
- Install an after-market anti-theft device.
- Cover VIN on vehicle
Several insurance companies have begun offering additional discounts for aftermarket anti-theft devices installed in vehicles. A company called TAG has partnered with multiple of the larger insurance providers to offer clients who drive high-risk vehicles additional savings once installed, some companies offer discounted installation costs, or full coverage of the cost to help reduce the increase in claims.
What is TAG?
TAG is an acronym for Technology Assisted GPS. TAG technology uses your phone’s built-in GPS to track the location of your vehicle at all times. This means that if the vehicle is stolen, it can be tracked down much more easily.
The system works by installing a small device on your car that connects to the internet via cellular data or Bluetooth. When this device is connected to the internet, it sends its location back to a server which then forwards it to you through an app on your phone (or email).
This allows you to track exactly where, in Canada, your vehicle is at any given time. If anyone tries stealing it, they’ll be caught immediately because their location will be tracked down by police.
Impact of Stolen Vehicles
The impact of stolen vehicles is far-reaching and can be felt by everyone. Auto insurance premiums for commonly targeted vehicles will begin to see an increase. Replacing these vehicles become a challenge as new vehicles are not being made quickly enough to restock dealership lots. Rental car companies’ inventory will continue to deplete while individuals find replacement vehicles.
Securing Your Vehicle and Peace of Mind
To ensure you have the right auto insurance in place to protect your investment, it’s essential to understand the various coverage options available to you. Don’t hesitate to speak with a Nicol Insurance broker who can guide you through the process and help you tailor a plan that best fits your needs for auto insurance. Don’t wait any longer; safeguard your vehicle and your peace of mind today.