Car Thief in Action If you drive Canada's best-selling truck, a Ford F-Series pickup, you might be paying more for your auto insurance coverage because it's a common target for theft. At least that's according to the Insurance Bureau of Canada's (IBC) annual list of the 10 most stolen vehicles in Canada:

  1. 2007 Ford F-350 Super Duty 4WD Pickup
  2. 2006 Ford F-350 Super Duty 4WD Pickup
  3. 2005 Ford F-350 Super Duty 4WD Pickup
  4. 2004 Ford F-350 Super Duty 4WD Pickup
  5. 2003 Ford F-350 Super Duty 4WD Pickup
  6. 2015 Toyota 4Runner 4-door 4WD SUV
  7. 2003 Cadillac Escalade 4-door 4WD SUV
  8. 2002 Ford F-350 Super Duty 4WD Pickup
  9. 2006 Ford F-250 Super Duty 4WD Pickup
  10. 2010 Acura ZDX 4-door AWD SUV

About vehicle theft in Canada

According to the IBC, cars are stolen for a number of reasons. Stolen vehicles may be shipped overseas, where they are sold to consumers who don't know they are buying a stolen car; they are scrapped for parts; or they might be used to commit another crime.

A Statistics Canada publication suggests that vehicle theft in Canada has increased for the second consecutive year, after years of being on the decline. In 2015, there were about 79,000 reported vehicle thefts (compared to 74,000 in 2014) representing an almost 7 per cent increase. Despite the increase however, the 2015 auto theft rate was still 56 per cent lower than 10 years earlier. Even so, roughly 216 vehicles are stolen a day, or one every seven minutes.

The IBC encourages drivers to be vigilant about deterring car thieves. "A vehicle left running unattended is not only easy to steal, it has increased value as a stolen vehicle because it comes with the keys," said Garry Robertson, National Director, Investigative Services, IBC. As a result, the IBC recommends that you protect your vehicle by following these tips:

  • Never leave your vehicle running when unattended.
  • Park in well-lit areas.
  • When parking your car, always close the windows and lock the doors.
  • Put valuables and packages in the trunk, where they're out of sight.
  • Keep your car in the garage at night.

Also, to minimize the risk of identity theft, they recommend that you don't leave personal information in your glove box. Take your insurance and ownership documents with you when you park your vehicle.

What does vehicle theft have to do with your car insurance premiums?

Coverage for theft is included under the 'comprehensive' or 'specified perils' part of your auto insurance policy. As vehicle theft increases, the part of the premium you pay for comprehensive/specified perils coverage is also likely to increase.

Comprehensive/specified perils coverage is optional; so if it's included on your policy, part of determining your premium requires the insurer to assess the likelihood your car will be stolen. This includes a review of theft rates in your region and how frequently thieves are attracted to your car's particular make and model. Because each insurer varies in how they calculate premiums, it's important then that you shop around for the best car insurance price as no two insurers are alike.

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