New data shows auto theft continues to soar above historical levels

IBC urges governments to keep the pedal down in the fight against auto theft as recent actions begin to show results

TORONTO, Oct. 2, 2024 /CNW/ - Data newly released by Insurance Bureau of Canada (IBC) reveals that auto theft rates in Canada continue to soar well above historical levels. While the country saw a slight dip (19%) in insurance claims for auto theft in the first half of 2024, auto theft claims have risen 138% over the past decade. Further, the value of auto theft claims has skyrocketed by 442% over that same time period.

National Auto Theft Claims - Half Year Data (CNW Group/Insurance Bureau of Canada)

"Concerted actions by law enforcement, insurers, governments and drivers to combat theft are showing results, but more remains to be done," said Liam McGuinty, Vice-President, Strategy, IBC. "Canada's auto theft rates have soared in the last 10 years, placing pressure on drivers' insurance premiums, compromising public safety, and causing Canadians concern and trauma. While theft frequency dropped slightly in the first six months of 2024, the problem remains significantly above historical trends."

Table 1: Canada-wide auto theft claims count and costs, first half of 2014 – first half of 2024

	Claims Count	Claims Costs
H1 2014	7,406	$100,506,581
H1 2023	21,907	$764,599,578
H1 2024	17,647	$544,721,183
% Change H1 23–24	-19.4 %	-28.8 %
% Change H1 14–24	138 %	442 %

IBC's data reveals significant differences between provinces. While Ontario (-16%) and Quebec (-41%) experienced decreases in the number of theft claims in the first half of 2024, Alberta (1%), New Brunswick (14%) and Nova Scotia (27%) saw increases. In Alberta, the value of auto theft claims has increased by 11% since 2023 and by a staggering 179% over the last 10 years.

Experts credit these regional differences to the opportunistic nature of car thieves, who may be shifting their focus away from provinces like Ontario and Quebec, where law enforcement has invested significantly in combatting auto theft, toward western and Atlantic provinces. 

Table 2: Provincial changes in theft claims count, relative to first half of 2023, and first half of 2024

	Ontario	Quebec	Alberta	NS	NB
% Change H1 23–24	-16	-41	0.7	27	14
% Change H1 14–24	291	36	48	87	203

New, high-end luxury vehicles continue to be popular targets for auto thieves, due in part to their desirability in illegal international markets. In many cases, stolen vehicles are exported to these markets by domestic and international criminal organizations. The proceeds are then often used to finance drug trafficking, arms dealing and international terrorism.

IBC points to the positive impacts of federal and provincial investments in helping combat theft, while highlighting the need for continued action. IBC has been calling for immediate action to stop stolen vehicles from being shipped overseas, to tackle fraudulent "re-VINing" of vehicles and to prevent vehicles from being stolen in the first place through an update to Canada's motor vehicle safety standards.

"Fighting auto theft requires a whole-of-society approach. Now is not the time to take our collective foot off the accelerator in this fight," adds McGuinty. "The auto theft crisis continues to negatively impact Canadians' pocketbooks and their sense of safety. The property and casualty insurance industry remains committed to working alongside all orders of government and stakeholders to continue to address the national auto theft crisis."

As IBC noted in a media release earlier this year, the value of insurance claims for auto theft hit $1.5 billion for the first time ever in 2023.

About Insurance Bureau of Canada

Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market.

As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow.

IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses.

For media releases, IN Focus articles or to book an interview with an IBC representative, visit ibc.ca. Follow us on LinkedIn, X and Instagram, and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC. We're here to help.

SOURCE Insurance Bureau of Canada

Media Contact: Brett Weltman, Manager, Media Relations, IBC, [email protected]