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Canada’s auto theft crisis is deepening, as insurance declare prices top $1.5 billion for the primary time.
New information from the Insurance Bureau of Canada (IBC) exhibits insurance suppliers dealt with 49,679 claims for stolen autos in 2023, with prices eclipsing $1.54 billion for the 12 months. Overall, the variety of claims has spiked 56 per cent since 2018, whereas prices have gone up 254 per cent.
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“These numbers point out that the auto theft crisis persists, disrupting the lives of Canadians and inflicting them concern and trauma,” Liam McGuinty, vice-president of technique on the IBC, stated in a information launch. “It locations a heavy burden on regulation enforcement and courtroom personnel who work tirelessly to handle these crimes.”
Car homeowners in the end find yourself paying larger insurance premiums because of the excessive charge of theft. A 2023 report from Rates.ca discovered incessantly stolen autos — such as the Honda CR-V and Dodge RAM 1500 Series — might face premium spikes of greater than 25 per cent and a $500 high-theft surcharge.
“Canada’s auto theft crisis can be inserting strain on drivers’ insurance premiums — as auto theft continues to extend, so do the related prices,” McGuinty stated. “Auto theft is just not a victimless crime.”
Auto theft is most pronounced in Ontario, the place declare prices have climbed 524 per cent since 2018, eclipsing $1 billion.
Ontario Transportation Minister Prabmeet Sarkaria instructed reporters final week {that a} automobile is stolen in Ontario each 14 minutes.
The Ontario authorities not too long ago introduced stiff new penalties for these convicted of the crime, which embody a lifetime driver’s licence suspension for repeat offenders.
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In February, the federal authorities introduced $15 million in funding for police companies to ramp up auto theft enforcement.
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Still, the IBC stated extra motion is required to stop stolen autos from being exported internationally.
“IBC acknowledges the efforts undertaken by governments up to now to struggle auto theft, however extra must be executed, together with on the nationwide stage,” McGuinty added. “Attention must be paid to modernizing Canada’s outdated automobile security requirements, which had been final up to date in 2007, and stopping the outflow of stolen autos from Canada’s ports.”
• Email: bcousins@postmedia.com
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