Statistics Are In – Insure Your Car From Thieves
All you private and motor trade insurance policy holders get ready to buckle up, because the latest European Union Serious Organised Crime Threat Assessment (SOCTA) report has just been released and the results are shocking…if you can stay awake to read it.
Yep, every four years, the report investigates car theft across the EU, and despite Brexit, the UK is still in the mix. The findings are in, and its bad news for all us car owners: the risk of serious and organised crime relating to motorists and the motor trade industry has never been higher.
With more than 5,000 organised crime groups under investigation, it seems like every Tom, Dick and Harry has a side hustle as a car thief. Apparently, these gangs are running their operations like modern businesses, with management, operatives, and sales workers – kind of like a car theft corporation.
Move over, drug trafficking cartels, there’s a new crew in town. These organised gangs have been taking advantage of the Covid-19 pandemic and economic fallout to expand their operations.
Some even offer bespoke car theft services to international buyers, stealing cars ‘to order’ and delivering them straight to the highest bidder. Talk about a new twist on Prime delivery!
According to SOCTA, the global automotive aftermarket for replacement parts and accessories is worth more than £350 billion. So, you can see why these criminals are so motivated to steal vehicles.
The UK has been hit hard by organised vehicle crime, with a whopping 105,512 cars stolen in 2021. If you’re thinking, “well, at least they got some of them back,” then think again. Only 29,543 of those cars were ever recovered. It’s like a real-life game of Grand Theft Auto.
And don’t even get us started on motorcycle theft. In 2022, an estimated 25,212 motorcycles were stolen, and only 37% of them were found again by the police. So, if you see a group of shady-looking characters in leather jackets riding a fleet of motorcycles, you might want to give them a wide berth.
The latest SOCTA report has some wild car theft statistics from around the world. In Italy, over 166,000 cars went missing last year. In France, thieves made off with 173,010 vehicles, and Holland had over 85,700 incidents of car theft in 2022.
Those countries have roughly the same recovery rates as the UK, which isn’t good news for anyone. But across the big pond in the USA, things are even crazier.
Car thefts and related parts theft racked up a bill of over £4 billion in the first six months of 2022 alone! The National Insurance Crime Bureau reported that more than half a million cars were stolen in the same time frame.
What can you do to stop your ride from becoming a statistic?
Firstly, watch out for those pesky “relay attacks” on keyless vehicles, if you don’t know what these are speak to your local motor trade dealer. Park your ride in a safe location, preferably in a well-lit area with CCTV. Don’t leave valuables in plain sight, remove your sat nav and stereo if you can, install an alarm, immobilizer, and/or tracking device.
Want to go the extra mile? Try a steering wheel lock, and don’t leave your logbook and other important documents in your car. Finally, if you’re parking outside at night, set up a motion sensor, and don’t leave your car running unattended, lest you want an opportunistic thief to jump in and take a joyride.
So, what’s the moral of this story? Speak to your local private or motor trade insurance broker, keep your vehicle policy up to date and your car keys close, because there are some seriously organised criminals out there who are looking to make a quick buck. And if you’re not in the market for a stolen car, maybe just stick to Autotrader.
