When you buy auto insurance, protect yourself from many people’s worst nightmare: walking outside to discover an empty spot where their automobile was parked – and later discovering that when they did buy auto insurance, they neglected to get coverage for theft.
Good News – And Bad
The bad news is that according to the FBI, the rate of car theft is high. In 2009 (the most recent year for which records are available), a vehicle in the U.S. is stolen every 40 seconds on the average. That works out to a rate just under 260 per 100,000 population. The good news is that the rate of auto theft is on the decline; in 2006, a vehicle was stolen every 30 seconds, and the rate was 315 per 100,000 population.Overall, car thefts were down by 17% between 2008 and 2009.
Another bit of good news is that while “carjacking” (someone who robs a person of their vehicle at gunpoint) gets sensationalized in our dysfunctional mainstream media (which is more about “infotainment” than serious news), it’s relatively rare; carjackings account for only about 3 percent of all car thefts, primarily in urban areas.
There’s more bad news, however: only 12.4 percent of stolen vehicles are ever recovered. And if all you have is liability car insurance, you are not covered.
Where and What
The most recent information from the National Insurance Crime Bureau (NICB) suggests that the highest rates of car theft occur in the southeastern and western states. Topping the list was Laredo, Texas; this was followed by four communities in California’s San Joaquin Valley (Modesto, Bakersfield, Stockton and Fresno). Yakima, Washington, the San Francisco Bay Area, Visalia-Porterville, California, Las Vegas Nevada and Albuquerque, New Mexico rounded out the Top Ten list.
As to what is popular with car thieves, you may be surprised to know that their targets are not always the latest, greatest models. Certainly, glitzy vehicles that have been popularized by celebrities such as the Cadillac Escalade are high on the list – but relatively few vehicles are stolen by youngsters looking for a thrill or a new vehicle with status and glamour. Most car thieves are hard-core professionals who target older models for which parts are no longer made. In fact, the cars most likely to be stolen are those built between 1993 and 1997 and include some of the better makes such as Honda.
Protect Yourself
First of all, make certain your car insurance policy covers theft if you have a newer car that is attractive to thieves or live in a high-risk area. If you do have comprehensive car insurance, make sure that you are covered for the full value of the vehicle (this may mean getting a “gap” rider – ask your auto insurance agent about this).
Secondly, don’t assume that all the anti-theft devices that came with your new vehicle are going to successfully deter car thieves. Ordinary, common-sense strategies are best: park in well-lit, well-traveled areas, hide valuables in the trunk, under the seat and/ or in the glove compartment, lock the vehicle and take the keys.
Tags: auto insurance agent, buy auto insurance, california, car insurance policy, car theft, carjacking, comprehensive car insurance, liability car insurance, national insurance crime bureau, san francisco bay, san joaquin valley
