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

Halifax Regional Municipality

$3,607,129

$1,624,922

122%

Moncton

$3,328,444

$900,631

270%

Fredericton

$2,459,466

$742,256

231%

Cape Breton Municipality (Sydney)

$1,162,340

$1,041,059

12%

St. John’s

$1,014,503

$755,061

34%

Saint John

$976,438

$415,255

135%

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 This must include an update to Canada’s badly outdated vehicle safety standards, and measures that make it more difficult to transport and export stolen cars.”

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