Auto theft insurance claims have seen a sharp decrease in Ontario this year

According to a new study, auto theft insurance claims have seen a significant decline this past year in Ontario. 

In a release from the Insurance Bureau of Canada (IBC), a major study was released to the public to help diagnose provinces on their auto theft rates, specifically, in this case, by using the overall average of insurance claims surrounding auto theft as a metric. 

Data from the report indicates that Ontario has seen a 16 per cent decrease in auto theft claims during the first half of 2024, additionally, on a national scale, Canada saw a decrease in auto theft claims in the ballpark of 19 per cent in 2024.

However, despite this dip, auto theft insurance claims have still been rising upwards of 138 per cent over the past decade in Canada, while the overall dollar value of auto theft insurance claims has also jumped by 442 per cent over that same 10-year period.

“Canada’s auto theft rates have soared in the last 10 years, placing pressure on drivers’ insurance premiums, compromising public safety, and causing Canadians concern and trauma,” said Liam McGuinty, IBC’s vice president for strategy.

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Experts operating alongside the IBC’s survey also indicated changes in behavior among car thieves may be contributing to these changes in numbers, as there may now be a notable shift away from targeting provinces like Ontario and Quebec — regions where law enforcement has invested significantly in combatting auto theft.

As a byproduct of these numbers authorities within the IBC are calling for a nationwide strategy, indicating that, “Now is not the time to take our collective foot off the accelerator in this fight. The auto theft crisis continues to negatively impact Canadians’ pocketbooks and their sense of safety.” 

For more information on auto-theft numbers in Ontario and Canada, visit the IBC’s official website.