Payouts for motor theft insurance coverage claims are accelerating uncontrolled and are actually at their highest stage in seven years.
Figures from the Affiliation of British Insurers (ABI) present motor theft insurance coverage claims for January to March have been greater than for any quarter since 2012.
It mentioned an increase in keyless automobile crime, the place one legal stands near the automobile with a tool that enhances the sign meant for the important thing, whereas an confederate stands near the home with one other gadget relaying the sign to the important thing, contributed to the rise.
Dwelling Workplace figures additionally present that automobile theft has risen by 50% over the previous 5 years.
The price of motor theft insurance coverage claims has additionally risen, with the ABI saying that insurers paid out £108m within the first three months of this 12 months – greater than a fifth up on the identical interval final 12 months.
Regardless of the rise in payouts, the ABI mentioned the common value for motor insurance coverage was at its lowest stage for 2 years to £466.
Motor theft insurance coverage declare stats:
16,000 claims for the theft of or from a automobile have been settled by insurers – that is the best quarterly determine since 2012.
The price of motor insurance coverage theft declare payouts was £108 million, up 22% on the identical interval final 12 months.
The price of automobile repairs, to each the automobiles of policyholders and people of third events throughout the quarter, was £1.2 billion – the best quarterly determine for the reason that ABI began gathering this information in 2013.
‘Progress in automobile crime have to be reversed’
Laurenz Gerger, ABI’s motor insurance coverage coverage adviser, mentioned: “The continued progress in automobile crime have to be reversed.
“Automotive safety has come on leaps and bounds however must maintain tempo with the ingenuity of automobile criminals.
“The rising variety of motor theft insurance coverage claims being paid partially displays the vulnerability of some vehicles to keyless relay theft.
“Motion by motor producers to deal with this high-tech vulnerability, allied with homeowners taking some easy, cheap precautions will assist put the brakes on this unwelcome pattern.”
9 easy steps to scale back the danger of motor theft
Motor insurance coverage consultants at Adrian Flux provide 9 easy steps to assist forestall you having to make a motor theft insurance coverage declare.
If attainable, maintain your automobile garaged in a single day
If you happen to can’t park within the storage, park in a well-lit space
Take into account extra safety comparable to an immobiliser or tracker
Guarantee your safety units are activated when the automobile is just not in use.
Don’t go away any valuables in clear view in your automobile
Spend money on CCTV skilled in your parking area
By no means go away your automobile with its engine working
At all times lock the automobile, even if you're leaving it for a second, to pay for gas for instance
If in case you have a keyless automobile, flip off the sign in a single day or maintain the keys in a signal-block pouch
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