Several insurers are ready to support vehicle owners' prevention efforts in the fight against auto theft, according to a compilation by the Insurance Portal*.
Police and customs authorities report a sharp increase in the number of vehicles recovered at port facilities. Law enforcement activities, such as seizing vehicles from containers or searching warehouses and workshops, entail significant costs for insurers and society in general. Attempting to repatriate a vehicle seized from a dealer in Africa or the Middle East is even more costly.
The installation of suitable anti-theft systems remains a less costly solution, but manufacturers are reluctant to equip vehicles with them. What's more, thieves are quick to discover where manufacturers install these systems, enabling them to disable them quickly.
According to responses obtained by the Insurance Portal, Canada's leading property and casualty insurers approve the installation of the most widely recognized anti-theft systems, such as the Tag, Domino or KYCS Locate tracking systems, depending on the province in which these products are offered.
Many insurers encourage the installation of such systems on vehicles most prized by thieves, or on luxury cars. Some insurers support the policyholder's decision directly, either by negotiating a discount with system suppliers or by paying for the entire installation.
They may also offer an indirect incentive, by charging a higher premium for the absence of such a system, or a lower rate when the vehicle is protected by a recognized supplier.
