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
1
Toronto
$371,815,072
$56,223,067
989%
2
Brampton
$93,186,518
$11,378,590
719%
3
Mississauga
$89,980,735
$14,226,190
533%
4
Vaughan
$62,443,717
$7,023,115
789%
5
Markham
$43,633,553
$4,005,428
561%
6
Ottawa
$41,304,357
$6,743,194
513%
7
Oakville
$30,797,587
$3,163,240
874%
8
Richmond Hill
$25,672,053
$2,814,457
812%
9
Hamilton
$19,978,117
$7,390,338
170%
10
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.
Related Stories
Keep up with the latest news and events
Join our mailing list, it’s free!
