Have you ever wondered which are the most stolen cars in America?
No matter what, there are vehicles that seem to be more prone to becoming stolen cars than to living a long life in people’s garages.
This is because there are some car models that end up being stolen way more often than others, and these are the cars that end up affecting your insurance premium.
While it should not stop you from getting the car you want, you should be aware of the reality of the matter.
It is not only a testament to the vehicle’s security, but it can end up impacting you financially in the long run, both due to the insurance costs and also possible repair costs!
If you are ready to discover which cars get stolen more often and how the insurance companies end up raising your insurance premiums, keep reading!
Which are the car models most commonly stolen?
As car technology has evolved over the years, so has the approach of thieves who steal them. They have gotten more and more sophisticated, and while there are some new models and popular, expensive cars that end up being stolen, the list may surprise you.
According to the National Insurance Crime Bureau (NICB), the most stolen car model in 2022 has been the Chevrolet pickup (full size); the model that is targeted the most is the 2004 model, and there have been 49,000 thefts of this car in 2022.
The other ones that make up the rest of the top ten stolen cars include two more pickups: Ford Pickup and GMC Pickup (both full size), Honda Civic, Accord, and CR-V, Hyundai Sonata and Elantra, Toyota Camry, and Kia Optima!
If you have any of these cars, you may be at increased risk of getting them stolen, but at the same time, it could also mean that your insurance has increased.
If you are curious about the other financial implications of owning one of these cars, keep reading!
Impact on the cost of comprehensive coverage
Everyone should make sure that their vehicle is insured, both to protect it and themselves in the event of any damage to the car and even to protect themselves in the eventuality that it is stolen.
However, to make sure that your car is insured if it is stolen, you need to get comprehensive car insurance.
This type of coverage ends up costing more, and given that these car models are more prone to being stolen, the coverage will end up costing more since the company will believe there is a higher chance of having to cover the cost of the car.
On the other side, if you do not pay for this comprehensive coverage, you will end up becoming financially vulnerable if your car is stolen.
Increased insurance premiums
The most obvious repercussion when it comes to owning a frequently stolen car model is that it will raise your insurance premium.
Insurance companies always assess the risk based on your car and your own history as a driver, and when looking at your vehicle, they also include the likelihood of having it stolen into the risk factors.
And for these car models we have mentioned, this is an important factor. Since they are more likely to get targeted, you will end up having to pay a higher insurance premium.
They are deemed high-risk cars, so even if your driver history is spotless, you will have to pay more due to the car model you have, as the company is trying to offset the cost of any potential theft claim.
Potential extra costs in the event of theft
If your car ends up being stolen, then you have more to think about financially, even if you do have comprehensive insurance.
This is because until you end up being able to get a new car, you will have to rent another one if you do not have someone who can lend you one or help you out in the meantime.
Likewise, once you have made the theft claim, this will continue to be mentioned in your insurance documents, and it will infer an increased premium once you insure your new car.
Even worse, if you have left any personal belongings inside the stolen car, you will have to replace them, which is an extra expense many do not think about.
Depreciation in resale value
If you own one of these cars that are frequently theft targets, then you can expect it to have a high depreciation rate. The perception of these cars is a bit worse than that of other cars, and as a result, you can expect to have a harder time when reselling the car.
You may want to sell it and get a new car, but since the reputation of these cars may be damaged, you may end up having to sell them for less than you expected in order to get rid of them.
Preventive measures
If you have one of these models and you do not want to end up part of the statistic, know that there are some preventive measures you can take in order to increase the safety of your vehicle.
The most recommended by experts include:
- make sure you park in safe spots: Always ensure you park your car in well-lit areas at night, since thieves are less likely to approach your car like this;
- enhance your security system: try installing extra security features or gadgets on your car, including the likes of additional tracking systems and an immobilizer;
- never neglect your updates and regular maintenance: ensure your car is in great condition, that you do not miss any maintenance checks, and that you always update the security features on the car to make it less of a target.
If you want to know more about how you can keep your car safe, make sure you check out the NICB page on the matter.
These may sound like bad news, but we also come with some great ones! There are ways in which you can end up decreasing your insurance premiums and paying less than you would without using these clever tips. If you’re ready to lower your bill, make sure you check out this article!
