Dude, WHERE is your car? In the U.S., a car is stolen once every 26 seconds. The FBI reports that there were an estimated 715,373 motor vehicle thefts nationwide in 2011, making auto theft a top non-violent crime in the country. Only 52 percent of these vehicles were recovered. Insurance companies, law enforcement, and consumers are all responsible in the joint effort to reduce auto thefts. California is by far the state with the most auto thefts in the country. The list also includes Texas, Florida, Georgia, Illinois, and Michigan.
Older vehicles are usually stolen for parts, which are no longer being manufactured; newer cars are stolen for their popularity. Between 2009-2011, the top three stolen vehicles include the 1994 Honda Accord, the 1998 Honda Civic, and the 2006 Ford F-150. According to McGoey, thieves can pocket a cool $30,000 for stripping a $20,000 Civic. Honda tends to manufacture interchangeable parts for all its model years, which raises the black market profit on the car parts.
Now, not all insurance plans will cover car theft. Comprehensive auto insurance ($136/year) will usually cover theft, vandalism, hit and run damage, and “Act of Good” damage. Whether you live in one of the more risky areas or own one of the most stolen vehicles, there are steps you can take to reduce your risk of becoming a victim of car theft. To learn more, check out the infographic below.
Source: Shift Insurance