Hello Dear Friends,
The Toronto Star recently published an insightful article about car thefts. Let’s dive straight into it.
CAR THEFTS IN ONTARIO: A GROWING CONCERN
From 2015 to 2023, car thefts in Ontario have tripled, and insurance rates have increased by 12% compared to 2021.
THE 5 MOST STOLEN VEHICLE MODELS IN 2021
1. Lexus RX Series (2016–2021 models):
Out of 22,192 vehicles, 2,083 were stolen.
2. Honda CRV (2016–2021 models):
Out of 111,463 vehicles, 1,150 were stolen.
3. Ford F-150 (2015–2020 models):
Out of 114,233 vehicles, 613 were stolen.
4. Toyota Highlander (2013–2019 models):
Out of 33,610 vehicles, 575 were stolen.
5. Honda Civic (2016–2021 models):
Out of 129,119 vehicles, 380 were stolen.
WHAT DOES INSURANCE COVER IF YOUR CAR IS STOLEN?
While your insurance policy may cover the cost of replacing your vehicle, most standard policies only compensate for the depreciated value of the car. This means the reimbursement won’t equal the cost of a brand-new vehicle. Similarly, under most policies, accessories such as roof racks permanently attached to your car will only be covered for their depreciated cash value.
WHAT ABOUT PERSONAL BELONGINGS?
Personal items left in the car are typically not covered by car insurance, but they may be covered under your homeowner’s or renter’s insurance policies. To protect yourself from such thefts, you’ll need comprehensive auto insurance with specific add-ons for personal belongings.
Items stolen from a car parked in your driveway or garage might be covered under your home insurance.
ANTI-THEFT DEVICES CAN LOWER YOUR PREMIUMS
When insuring vehicles like the Ford F-150, having anti-theft devices such as steering wheel locks can lead to significant discounts and help eliminate additional fees.
Dear Friends,
Back in our home country, we often heard that “doors of homes and cars in Canada don’t need to be locked.” Unfortunately, this saying has now been replaced by the advice, “Invest in anti-theft devices.”
What can we say? May our loved ones and belongings stay safe.
Best regards,
Orhan Hoca
Licensed Driving Instructor
647 984 4682
#insurance #car #theft #driving #license