By Trend News Line 2024-03-27 23:33:40.
Vehicle thefts on the rise in Ontario
It’s a worrying trend that has been on the rise in recent years – vehicle thefts in Ontario. According to recent reports, insurance companies are facing a staggering cost of over a billion dollars a year due to vehicle thefts, with a significant portion of that amount coming from Ontario alone.
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Top stolen vehicles in Ontario
The statistics are alarming, with the Honda CRV being identified as the most stolen vehicle in Ontario. Following closely behind are the Lexus RX series, Dodge Rams, Toyota Highlanders, and Land Rover Range Rovers. On average, five vehicles are stolen every day in the nation’s capital, highlighting the severity of the issue.
Austin Lonsdale’s experience
One Ottawa resident, Austin Lonsdale, recently received a shock when he received a letter from his insurance provider regarding his policy renewal. As the owner of a 2021 Honda CRV, he was informed that his vehicle was at high risk of theft and was given the option to pay a $400 annual surcharge or install a tracking system called Tag.
Privacy concerns raised
Lonsdale expressed concerns about the privacy implications of installing a tracking system in his vehicle. He questioned who would have access to the information and how it would be used. The decision to either pay the surcharge or install the tracking system left him feeling uneasy about the potential implications.
Insurance company response
In response to the concerns raised by Lonsdale and other policyholders, Desjardins Insurance clarified that the Tag tracking system is only used for tracking and retrieving stolen vehicles. They assured that the system does not analyze driving habits or behaviors and that the insurance company only receives location information after a theft is reported and the vehicle is retrieved by the police.
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Rising auto theft claims
The Insurance Bureau of Canada has reported a significant increase in auto theft-related claims in Ontario, with a staggering 329% rise between 2018 and 2022. This surge in claims costs has put pressure on insurance premiums, leading insurers to reassess their pricing strategies to account for the increased risk of theft.
Reconsidering vehicle choices
The experience of having his vehicle identified as high risk has left Lonsdale reconsidering his choice of vehicle. Despite planning on leasing a third Honda CRV, he is now leaning towards a different vehicle that is not on the list of most stolen vehicles. The incident has highlighted the importance of considering the security of a vehicle when making purchasing decisions.
In conclusion, the issue of vehicle thefts in Ontario is a growing concern that is not only impacting insurance companies but also individual vehicle owners. As the prevalence of thefts continues to rise, it is essential for both insurers and policyholders to be vigilant and take steps to protect their vehicles from potential theft..
– Car theft insurance rates
– High theft car insurance premiums.
