Auto theft claims exceed $1-billion in Ontario alone

New data from the Insurance Bureau of Canada (IBC) shows a staggering increase in auto theft claims and claims costs in the province of Ontario. “According to newly released data, auto theft claims costs have surged by a record-shattering 524 per cent across Ontario since 2018, with auto theft claims costs surpassing $1-billion for the first time in 2023,” the IBC states in an announcement revealing the province’s 10 costliest cities for auto theft claims.

Across the country in 2023, the cost of insurance claims for replacing stolen vehicles across Canada reached $1.5-billion. “This marks the second year in a row (that) auto theft claims have topped $1-billion,” the IBC said in an earlier statement. “To put this into perspective, between 2018 and 2021, auto theft claims costs averaged $556-million annually.” 

Toronto tops the list 

Turing to the Ontario figures published, Toronto topped the list of costliest cities in Ontario for auto theft claims. The increase in auto theft claims costs between 2018 and 2023 for the city surged 561 per cent. The report says 2023 auto theft claims costs for that city nearly reached $372-million.

When looking at cities by the percentage increase in auto theft claims and costs, Whitby, Pickering and Milton topped the list: Milton’s increase was 1,010 per cent, Pickering’s claims costs rose 1,228 per cent between 2018 and 2023 and Whitby’s costs surged 2,269 per cent. Markham, Ontario is also notable for being on both lists – 2023 claims costs well exceeded $43.6-million in 2023, a 989 per cent increase over 2018 figures. 

“IBC’s numbers reveal the Greater Toronto Area has been hit particularly hard by the auto theft crisis. These claims costs speak to the growing severity of the auto theft crisis in Ontario – a crisis that is having a material impact on auto insurance premiums,” says IBC’s vice president of Ontario and the Atlantic, Amanda Dean.

“We urge all orders of government – including the province and municipalities – not to delay in working with the federal government to implement the recommendations in the National Action Plan on Combatting Auto Theft,” she adds. “This initiative must include measures that make it more difficult to transport and export stolen cars.” 

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