Toronto, ON – According to recent data, insurance claims for auto thefts in Toronto have risen by a staggering 561 per cent since 2018. This alarming increase has resulted in a total of over $1 billion in claims across the province of Ontario.
The data, released by the Insurance Bureau of Canada (IBC), shows that the number of auto theft claims in Toronto has risen from 1,049 in 2018 to 6,937 in 2020. This represents a significant jump and highlights the growing issue of auto theft in the city.
In addition to the increase in claims, the IBC also reported that the average cost of each claim has risen by 11 per cent, from $8,000 in 2018 to $8,880 in 2020. This means that not only are there more auto thefts occurring, but they are also becoming more costly for insurance companies and ultimately, for consumers.
The IBC attributes this rise in auto thefts to a number of factors, including the increasing popularity of keyless entry systems in vehicles, which can be easily hacked by thieves. They also point to the rise in organized crime groups targeting high-end vehicles for export or resale.
In response to these concerning statistics, the IBC is urging car owners to take precautions to protect their vehicles. This includes using anti-theft devices, parking in well-lit areas, and never leaving valuables in plain sight.
The Toronto Police Service has also acknowledged the issue and is working to address it. In a statement, they said, “We are aware of the increase in auto thefts and are actively investigating these incidents. We urge the public to report any suspicious activity and to take steps to secure their vehicles.”
The IBC is also calling on the government to take action by implementing tougher penalties for auto theft and providing more resources for law enforcement to combat this issue.
In the meantime, car owners are advised to be vigilant and take necessary precautions to protect their vehicles. With auto theft claims on the rise and costing billions of dollars, it is clear that this is a problem that needs to be addressed urgently.
