Table of Contents
- Catalytic Converters
- Stay Vigilant and Secure Your Vehicle
- Canada’s Top 5 Most Frequently Stolen Vehicles
- Preventative Measures: Safeguarding Your Vehicle Against Theft
- Action Steps
The last two years have seen vehicle thefts on the rise not only in Ontario, but across the world. While it is hard to narrow down the exact reason, there have been several changes during this period that have led to supply and demand issues as a major contributing factor.
Let’s look at some of the top trends.
Catalytic Converters
During this same two-year period, theft of catalytic converters has increased substantially.
Catalytic converters contain precious metals like rhodium, platinum and palladium, which have become part of a worldwide shortage since the pandemic began—making them a primary target for thieves.
The converters are also easy to saw off and the payout for stealing one is high.
Stay Vigilant and Secure Your Vehicle
50% of car thefts during winter occur when a vehicle has been started and the owner is waiting for it to warm up. Always make sure you are sitting in your vehicle while it’s warming up. If you leave your car for any reason, lock all doors and close all windows.
Vehicles are often transported overseas for a multitude of reasons. Stolen vehicles with low mileage are often purchased at a reduced price when prices are compared with local currency, or even over market value depending on supply and demand. These vehicles are used for everyday personal use, as work vehicles, or in industrial or farming operations in tough terrain.
One common way vehicles are stolen is from the duplication of key fobs. It’s something that can easily be done with a scanner—especially if keys are left inside your house near the front door. It is recommended to always store keys away from the main entrance of the house and in a secure area. For more details on how fob scanning is done, please see our previous blog on auto thefts shares additional information on this method of theft.
Canada’s Top 5 Most Frequently Stolen Vehicles
According to Insurance Business Magazine, these are Canada’s top 5 most frequently stolen vehicles:
- Ford F150/F250/F350/F450 Series
- Honda CR-V Series
- Chevrolet/GMC Silverado/Sierra 1500/2500/3500 Series
- Dodge Ram 1500/2500/3500 Series
- Lexus RX350 /RX450 Series
Preventative Measures: Safeguarding Your Vehicle Against Theft
- When possible, park your vehicle in the garage and make sure the car is locked. If someone has targeted your vehicle, they may try to break into the garage to steal it but locking the doors is an added deterrent.
- Don’t leave spare keys in the vehicle.
- Ensure all windows and doors are completely closed.
- When parking your vehicle, slightly turn your wheel to make the vehicle harder to tow.
- Park in a well-lit, attended area whenever possible.
- Don’t leave car keys near the front door, as thieves can use a FOB relay device to start your vehicle remotely. If you do, it’s recommended to use an RF box that can block the signal.
- Don’t keep valuables in view inside the vehicle as they can make the vehicle an attractive target.
Action Steps
Action Steps
As vehicle rental costs have increased over the last few years, I’d recommend reviewing your OPCF 20 limit, which covers the costs of transportation replacement when there’s been a loss to your own vehicle. You should also speak to your Broker about liability limits and replacement costs for your vehicle. Your Broker will always be your best source of information on policy limits and advice for the protection of your vehicle.
