The Insurance Bureau of Canada (IBC) has published new figures which show that auto theft rates remain well above historical levels, despite a dip reported in the first half of 2024.
Data shows that insurance claims for auto theft in the first half of 2024 declined 19 per cent. That said, they add that auto theft claims have risen 138 per cent over the past decade. “Further the value of auto theft claims has skyrocketed by 442 per cent over that same time period,” they state.
“Concerted actions by law enforcement, insurers, governments and drivers to combat theft are showing results,” says Liam McGuinty, vice president of strategy with the IBC. He adds, however, that “Canada’s auto theft rates have soared in the last 10 years.” He also says that while theft frequency dropped slightly, “the problem remains significantly above historical trends.”
Ontario and Quebec
The data reveals regional discrepancies they say might be attributed to the opportunistic nature of the crime. Thieves, they say, may be shifting their focus away from provinces like Ontario and Quebec where significant investment has been made to combat auto theft.
In Ontario and Quebec, theft claims declined 16 per cent and 41 per cent, respectively. Alberta claims rose one per cent, New Brunswick claims rose 14 per cent and Nova Scotia claims jumped 27 per cent in the first half of 2024. “In Alberta, the value of auto theft claims has increased by 11 per cent since 2023 and by a staggering 179 per cent over the last 10 years,” they write. According to the IBC, the value of insurance claims for auto theft across the country hit $1.5-billion for the first time ever in 2023.