Tag Archives: auto theft

Auto theft projected to rise for the third consecutive year

The steady decline in auto thefts which started in 1991 is largely attributable to the rise of modern keys, fobs and ignitions, and the ubiquity of statewide anti-theft taskforces. But insurers are keeping an eye on the increase in auto thefts that occurred in 2015 and 2016 and which is projected to continue in 2017, according to a recent Risk Information newsletter.

Car owners have become complacent about theft, with 56 percent of Americans reporting that they rarely or never worry that their car will be stolen. In fact, car owners are getting so relaxed about theft that thousands of vehicles are stolen each year because keys or fobs are left in the vehicle, according to the National Insurance Crime Bureau.

Thieves are also constantly devising new and sophisticated means of stealing autos. Tactics include acquiring smart keys, switching vehicle identification numbers; and using stolen identities to secure loans for expensive vehicles.

Thieves also now have access to devices which search for signals from nearby wireless key fobs and use that signal to unlock and start cars. To counteract this trend a growing market has sprung up for boxes or pouches for key fobs especially designed to block radio transmissions. You can purchase one on Amazon.

The FBI estimates that the number of motor vehicle thefts increased 7.4 percent in 2016 over the prior year. Approximately $5.9 billion was lost nationwide to motor vehicle thefts in 2016 with the average dollar loss per stolen vehicle of $7,680.

The I.I.I. has Facts and Stats on auto theft here.