Revealed – costliest cities in Atlantic Canada for auto theft claims
Revealed – costliest cities in Atlantic Canada for auto theft claims | Insurance Business Canada
Motor & Fleet
Revealed – costliest cities in Atlantic Canada for auto theft claims
The problem isn’t just in central Canada
Motor & Fleet
By
Terry Gangcuangco
The Insurance Bureau of Canada (IBC) has analyzed industry data from General Insurance Statistical Agency systems to rank the costliest cities in Atlantic Canada for auto theft claims.
Rank
City
2023 auto theft claims costs
2018 auto theft claims costs
Increase between 2018 and 2023
1
Halifax Regional Municipality
$3,607,129
$1,624,922
122%
2
Moncton
$3,328,444
$900,631
270%
3
Fredericton
$2,459,466
$742,256
231%
4
Cape Breton Municipality (Sydney)
$1,162,340
$1,041,059
12%
5
St. John’s
$1,014,503
$755,061
34%
6
Saint John
$976,438
$415,255
135%
7
Charlottetown
$566,717
$186,348
204%
Amanda Dean (pictured), IBC vice president for Ontario and Atlantic, said: “While auto theft may seem like a problem that’s only affecting central Canada, auto theft claims and claims costs are spiking in Atlantic Canada.
“It’s a problem right across the country and one we can’t afford to ignore here in Atlantic Canada. This crisis is having a material impact on auto insurance premiums in the hardest-hit regions – Ontario, Quebec, and Alberta.
“Without swift action to combat theft in Atlantic Canada, claims costs will increase, which in turn will impact the cost of insurance.”
Commenting further, Dean said: “The auto theft crisis will only worsen in Atlantic Canada unless provincial and municipal governments advocate for solutions that include, for example, investments in Atlantic ports to ensure they don’t become the next target.
“We urge all orders of government – including the provinces and municipalities – to work with the federal government without delay to implement the recommendations in Public Safety Canada’s National Action Plan on Combatting Auto Theft. This must include an update to Canada’s badly outdated vehicle safety standards, and measures that make it more difficult to transport and export stolen cars.”
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