Whereas passenger car theft was in decline the ABI now states a pay-out takes place every 8 minutes – car crime continues to rise.
A surge in vehicle thefts, including keyless car crime, has led to motor insurers paying out a record £1.2 million every day according to figures published today by the Association of British Insurers. A new vehicle theft claim is now being made every six minutes. The figures reflect rising vehicle crime, with Home Office figures recording a 50% rise in vehicle thefts over the last five years.
ABI’s motor claims:
The cost of vehicle thefts (including from a vehicle), at £376 million, rose by 29% on 2017, to a record annual high. This equates to just over £1 million being paid every day. The number of claims, at 56,000, rose 12% on 2017, with a new theft claim being made every six minutes.
In the video footage released by the West Midlands Police (posted by the BBC) it can be clearly seen that the gang members do not have to enter the premises to use the vehicles legitimate key to steal the vehicle.
In 2018 insurers paid out a record £376m for car theft, up 27% on the year before. Home Office stats show more than 110,000 vehicle thefts in 2017/18 – up 10% on the year before and the highest level for a decade.
2019 motor theft pay-outs are up over 20% in the first quarter. figures out today from the association of British Insurers (ABI)