Revealed – costliest Ontario cities for auto theft claims

Revealed – costliest Ontario cities for auto theft claims | Insurance Business Canada

Motor & Fleet

Revealed – costliest Ontario cities for auto theft claims

Inaugural list follows new high for numbers last year

Motor & Fleet

By
Terry Gangcuangco

Following the 524% surge in auto theft claims costs in Ontario from 2018 to 2023, the Insurance Bureau of Canada (IBC) has published its inaugural list of the 10 costliest cities in the province for such claims. The ranking comes after 2023 saw Ontario’s auto theft claims costs breach the $1 billion mark.

Rank

City

2023 auto theft claims costs

2018 auto theft claims costs

Increase between 2018 and 2023

Toronto

$371,815,072

$56,223,067

989%

Brampton

$93,186,518

$11,378,590

719%

Mississauga

$89,980,735

$14,226,190

533%

Vaughan

$62,443,717

$7,023,115

789%

Markham

$43,633,553

$4,005,428

561%

Ottawa

$41,304,357

$6,743,194

513%

Oakville

$30,797,587

$3,163,240

874%

Richmond Hill

$25,672,053

$2,814,457

812%

Hamilton

$19,978,117

$7,390,338

170%

London

$13,823,739

$4,394,111

215%

Commenting on the figures, IBC vice president for Ontario and Atlantic Amanda Dean (pictured) said: “Ontario is seeing an alarming increase in auto theft claims and auto theft claims costs. As IBC’s numbers reveal, the Greater Toronto Area has been hit particularly hard by the auto theft crisis. These claims costs speak to the growing severity of the auto theft crisis in Ontario – a crisis that is having a material impact on auto insurance premiums, to say nothing of the concern and trauma it is causing Ontarians.”

Dean added: “Auto theft is a national emergency. IBC and its members remain committed to working with governments and stakeholders to combat Canada’s auto theft crisis. We applaud the Ontario government for the significant investments it has made to help mitigate the crisis. However, more must be done to tighten the vehicle registration process to make it harder for criminals to re-VIN and sell stolen vehicles to unsuspecting Ontarians.

“With auto theft claims skyrocketing across Ontario, we urge all orders of government – including the province and municipalities – not to delay in working with the federal government to implement the recommendations in the National Action Plan on Combatting Auto Theft. This initiative must include measures that make it more difficult to transport and export stolen cars.”

What do you think about this story? Share your thoughts in the comments below.