ICW Group partners with the National Insurance Crime Bureau (NICB) to stay on top of fraud trends to pass along to our customers. According to a recent NICB report, vehicles with the highest theft rates last year were full-size trucks. These vehicles made up more than 25 percent of the thefts reported in 2022, a decrease from a high of 33 percent in 2021. While motor vehicle theft rates have been soaring since the start of the pandemic, recovery rates have also risen. More than 85 percent of passenger vehicles reported stolen in 2022 were subsequently recovered by law enforcement or other means, with 34 percent recovered within a day of the vehicle being reported stolen.
“Vehicle theft is a multi-billion-dollar industry in the United States. Approximately one motor vehicle is stolen every 32 seconds, which adds up to more than one million vehicles stolen last year,” said David J. Glawe, President and CEO of the National Insurance Crime Bureau. “Vehicle theft disrupts lives, causes financial hardship, and undermines community safety. Addressing this problem is not just the responsibility of law enforcement agencies; it requires a partnership between vehicle owners, community members, as well as federal, state, and local governments.”
Vehicle theft rates for sedans, including Honda, Hyundai, and Kia, followed those of full-size pickups, with recovery rates for Hyundais and Kias between 87 and 95 percent.
“There are some commonsense steps to keep cars from being stolen. First, remove valuables from the vehicle or lock them out of sight. Next, lock the doors, roll the windows all the way up, and don’t leave your keys or key fob in the car,” Glawe said.
The NICB recommends taking these steps if your vehicle is stolen
Report your vehicle as stolen immediately to the police.
- According to NICB data, 34 percent of recovered stolen vehicles are recovered on the same day as the theft, and 45 percent are recovered within two days. Reporting the theft to law enforcement also provides a record to show to your insurer.
Report your stolen vehicle to your insurer.
- Oftentimes, insurers need a police report before honoring a claim.
Be prepared to provide important vehicle information.
- You will need to provide the make/model of the vehicle, color, and license plate number, and the Vehicle Identification Number (VIN). The VIN can be found on your insurance policy documentation or on the Proof of Insurance card.
- The process for filing a stolen vehicle report to your insurer could be over the phone, online, or even directly to your insurance agent.
