Auto theft is a crisis affecting Canadians nationwide, but it’s felt the most in Ontario. In a reassuring move, the Ontario government is taking significant steps to combat and prevent auto theft. They’re investing $18 million over three years, a sign of their commitment, as auto theft has increased by 72% from 2014 to 2021^1,2. Every 14 minutes, a vehicle is stolen in Ontario¹. Auto theft isn’t just a personal loss; it hurts everyone – when thieves steal, we all pay. In this article, we’ll explore the importance of insuring your vehicle against theft and the steps you can take to help keep your vehicle safe.

What does insurance cover if my vehicle is stolen?
If you have the proper insurance, it will cover a stolen vehicle. Protection against auto theft isn’t typically included in a basic auto insurance policy. However, with additional optional coverage, you’ll be covered if your vehicle is stolen.

You can enhance your protection by adding any of these endorsements:

1. Comprehensive
2. All-risk (All-perils)
3. Specified Perils

These types of endorsements can help:

• Replace a stolen vehicle
• Replace parts that are stolen or damaged
• Repair damages to your vehicle from a theft or break-in

What do I do if my vehicle is stolen?

1. Be sure your vehicle is stolen. Before assuming the worst, confirm that your vehicle has indeed been stolen. Consider alternative scenarios: could it have been towed or lent to someone?
2. Contact the police. Call your local police to begin the investigation process. You’ll be expected to describe your vehicle, including the make, model, licence plate, and VIN, and provide a detailed account of the incident. Remember to notify the police of technology that may help them track your vehicle, such as a telematics device or a Tag Tracking and Recovery System.
3. Contact your insurance company. Once you’ve submitted a police report, call your insurance representative. This will protect you if your vehicle is used to cause harm or commit a crime. Provide them with as much information as possible, including items inside the vehicle during the incident.

How does auto theft impact my auto insurance?
Auto theft can impact how much you pay for auto insurance. It costs drivers, insurance companies, and the government millions annually. Many factors are considered, such as:
 

• Where you live: Larger cities such as Toronto, Mississauga, and Ottawa are known to be costly for auto theft claims³. You can expect a higher premium if you live in a city with a higher number of auto thefts.
• The vehicle you drive: Vehicles that are common targets for theft cost more to insure. Équité Association releases a list of Canada's top 10 most stolen vehicles each year.

How do I keep my vehicle safe?
The best offence is a good defence. The Insurance Bureau of Canada encourages a layered approach to protection⁴:

Layer 1: The simple, common-sense steps

• Keep doors locked at all times
• Never leave keys in the ignition or start your vehicle remotely
• Ensure windows are closed
• Park in a well-lit area
• Park in a secure garage if possible

Layer 2: Install visible or audible anti-theft devices

Layer 3: Install a vehicle immobilizer

Layer 4: Invest in a tracking system

Remember to speak with your insurance broker before installing aftermarket technologies and check with your dealership before installing a tracking system (to ensure it doesn’t affect your vehicle’s warranty).

Secure your vehicle with auto theft coverage
Auto theft is an unfortunate reality that no driver can avoid altogether. The year 2023 was the second year in a row that auto theft claims costs topped $1 billion. If you're a current OTIP policyholder, contact us at 1-833-615-9329 to review your existing auto insurance policy and discuss enhancing your protection with additional optional coverage. If you’re not insured with OTIP and are shopping for auto insurance, call us at 1-833-494-0085 to get a quote and receive a $20 gift card of your choice!
 

1. Ontario Newsroom – Ontario Introducing Stiff Penalties to Combat Auto Theft
2. Ontario Newsroom – Ontario Taking Action to Combat Auto Theft
3. Insurance Bureau of Canada – Insurance Bureau of Canada Reveals Ontario’s Top 10 Costliest Cities for Auto Theft Claims
4. Insurance Bureau of Canada – End Auto Theft