Ontario drivers at risk of auto theft as preventive measures lag

Ontario drivers at risk of auto theft as preventive measures lag | Insurance Business Canada

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Ontario drivers at risk of auto theft as preventive measures lag

Survey shows how auto thefts are influencing consumer behaviour

Insurance News

By
Mika Pangilinan

A third of Ontario drivers know someone whose car has been stolen, while fewer than a fifth have taken preventive measures to protect their vehicle from theft, according to a recent survey by LowerRates.ca.

The survey conducted by the rate comparison website also found that 40% of drivers are unsure if thieves commonly target their vehicles.

“There have been several media stories aimed at educating and alerting the public about rising auto thefts,” Stéphane McGee, head of product and pricing at Onlia, told LowerRates.ca. “However, not everyone is aware of it. Until someone is impacted personally, it can be off their radar.”

Key findings from this survey include:

Personal Connections to Auto Theft – 34% of respondents claimed to know someone who has fallen victim to auto theft. Additionally, 3% of respondents reported having had their vehicle stolen, while 2% said they had both personal and second-hand experiences of vehicle theft.
Usage of Anti-Theft Devices – Only 14.5% of respondents reported using anti-theft devices, such as GPS trackers, faraday pouches, or steering wheel locks.
Lack of Awareness – 40% of respondents admitted not knowing whether their vehicles were commonly targeted by thieves.
Risk Assessment – Only 12.5% of survey participants were aware that they were driving vehicles at high risk of theft. In contrast, 41% believed their vehicles were not at increased theft risk.
Insurance Adjustments – Amidst the surge in auto thefts, 6.7% of respondents increased their auto insurance coverage to protect their vehicles better. Additionally, 2% chose to lower their deductibles, and 4% took out specific endorsements to enhance their insurance coverage.
Response to Insurer Surcharge – Of those who received surcharges from their insurers for owning high-risk vehicles, 2% paid the charge, while another 2% installed anti-theft devices recommended by their insurers to avoid the extra cost.