What You Should Know About: Auto Theft
You love your car, so make it unattractive - to car thieves.
What you should know:
- An auto theft occurs every 33 seconds in the United States, according to the National Insurance Crime Bureau (NICB). Only 57.2 percent of stolen vehicles are ever recovered, and some suffer significant damage.
- Auto theft is the nation’s number-one property crime, costing $5.9 billion a year, or about $7,700 per stolen vehicle, on average.
- Owners of vehicles stolen are “on the hook” unless they include Comprehensive Coverage in their auto policy.
Comprehensive Coverage: the key to recovery
Auto theft is a widespread and costly crime. About one-fourth of a typical comprehensive auto insurance premium goes to pay for auto theft claims, according to NICB. As a result, everyone pays the price through higher auto insurance premiums. But, if you have a car you can’t afford to repair or replace out of your own pocket, you need to know that Comprehensive, or “Other than Collision,” coverage is the only policy that will help pay to repair or replace a stolen vehicle.
Learn how to make your “sweet ride” less attractive – but just to car thieves
Thanks in part to technology, vigilance and law enforcement, auto theft has declined in the United Stated over the past two decades. But thieves are constantly seeking sophisticated new ways of bypassing factory-installed security systems to steal vehicles. As a vehicle owner, it’s important to do what you can to protect yourself from car thieves.
Check out the links below to learn more about auto theft, and steps you can take to guard against becoming a victim.