2024 auto insurance claims
In the first half of 2024, there were 17,647 auto theft claims with a total cost of $544,721,183. Whereas in the first half of 2023, there were 21,907 claims costing $764,599,578.
There are also significant differences between provinces when comparing the first halves of 2023 and 2024. While Ontario and Quebec experienced decreases in the number of theft claims in the first half of 2024 — 16% and 41%, respectively — Alberta, New Brunswick and Nova Scotia saw increases to the tune of 1%, 14% and 27%.
In Alberta, the value of auto theft claims has increased by 11% since 2023, and by a staggering 179% over the last 10 years.
Other significant increase in claims activity over the past decade include:
- Ontario (291%)
- New Brunswick (203%)
- Nova Scotia (87%)
- Alberta (48%)
- Quebec (36%)
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New, high-end luxury vehicles continue to be popular targets for auto thieves, due in part to their desirability in illegal international markets.
"Fighting auto theft requires a whole-of-society approach. Now is not the time to take our collective foot off the accelerator in this fight," McGuinty said.
"The auto theft crisis continues to negatively impact Canadians' pocketbooks and their sense of safety. The property and casualty insurance industry remains committed to working alongside all orders of government and stakeholders to continue to address the national auto theft crisis."
Earlier this year, IBC noted the value of insurance claims for auto theft hit $1.5 billion for the first time ever in 2023.
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