442% increase in the value of auto theft claims means every driver in Canada is paying for these crimes

Year-over-year drop in auto theft

According to IBC data, there 17,647 auto theft claims with a total cost of $544,721,183, across Canada in the first half of 2024. When compared to the same period from 2023, there's been a marked decline in the number of auto insurance claims involving theft — approximately 19% — and the value of these claims. In the first half of 2023, there were 21,907 auto theft claims with a total claim cost of $764,599,578.

Despite this reduction in the quantity and value, data released by IBC shows that the value of insurance claims for auto theft hit an historic high in 2023, with more than $1.5 billion in insurance claims paid across Canada.

How auto theft differs from province to province

There are also significant differences among Canada's provinces, when it comes to the rate and cost of auto theft.

Ontario and Quebec experienced decreases in the number of theft claims in the first half of 2024, with reductions of 16% and 41%, respectively.

This reduction in theft wasn't the experience of Alberta, New Brunswick and Nova Scotia drivers, who witnessed increases in the number of auto theft claims of 1%, 14% and 27%, respectively.

A trend for the last decade

Over the past decade a number of provinces have seen triple-digit increases in the number of auto theft claims. According to IBC data:

• Ontario (291%)
• New Brunswick (203%)
• Nova Scotia (87%)
• Alberta (48%)
• Quebec (36%)

The province hit hardest with a year-over-year double-digit increase in the value of auto theft claims was Alberta. According to ICBC data, the value of these claims rose by 11% between 2023 and 2024; over the last decade, the value of vehicle theft claims has increases by 179% for Alberta drivers.

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The vehicles thieves love to steal

Not surprisingly, thieves tend to target certain types of vehicles. According to IBC data, 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."

What's working

IBC highlighted that the positive impacts of federal and provincial investments are helping to combat theft, but more needs to be done. In particular, IBC wants authorities to focus on preventing stolen vehicles from being shipped overseas and for a focused plan on how to tackle fraudulent "re-VINing" of vehicles — where criminals update the vehicle identification number (VIN) that is unique to each vehicle produced and sold, world wide.