Don't Forgo Car Insurance Simply Because Auto Theft Is Down
Auto theft is certainly a major concern for producers of car insurance policies. Overall, car thefts are at their lowest level since 1967. However, the National Insurance Crime Bureau (NICB) recently stated that the theft of late-model vehicles equipped with key-code technology is a growing concern. These key codes are signature IDs contained within a device that communicate with the vehicle and allow access to it.
Automakers introduced key-code technology to car models after 1997, and vehicles equipped with the anti-theft technology "have been credited with reducing car thefts by the hundreds of thousands in the past decade," said NICB vice president Roger Morris. But that may be changing as thieves are becoming smarter.
Key-code information is easily obtained
Some thieves will apparently go out and shop for a vehicle, which allows them to obtain the vehicle identification number. They can then use this information to submit phony paperwork to locksmiths or dealerships for replacement key transponders. The NICB is working with law enforcement agencies and automakers to track these types of transactions.
The NICB's concerns over key-code technology were included in its annual listing of the most-stolen vehicles, in which the 1994 Honda Accord again topped the list. According to the NICB, there were 7,596 reports of stolen 1994 Honda Accords regarding Locksmith Stamford CT, making it by far the most stolen make and model and, in addition, the 1995 Honda Civic has been the second-most stolen vehicle for the past three years.
The latest numbers continue a nationwide decline in vehicle thefts; with estimates from the Federal Bureau of Investigation showing a 3.3 percent drop in the number of thefts in 2012.
Insurance Implications of Auto Theft
Comprehensive car insurance coverage shields a policyholder in situations of theft, but the price tag for consumers who get that auto insurance coverage varies depending on the make and model of the car and an insurer's claims figures for it.