Auto thefts are driving up insurance rates for some vehicles in northern Ontario

If you drive a 2024 Dodge Ram truck in Sudbury, Ont., the comprehensive premium portion of your car insurance could be nearly seven times higher than for a 2018 model of the same truck, according to a new report from RATESDOTCA.

Daniel Ivans, an insurance expert and broker with the online insurance marketplace, says an increase in vehicle thefts is driving up insurance rates, or at least the comprehensive portion of drivers' policies.

"In 2023 especially, we saw an excess of $1.5 billion in auto thefts paid out by insurance companies," Ivans said.

"And, and what we're seeing is pretty significant increases for consumers, especially for newer vehicles to account for these losses due to the increased auto thefts."

Every year the quit Association, which tackles insurance fraud and crime in Canada, publishes a list of the most stolen vehicles in the country, and what provinces are seeing the crimes happening most often.

In Ontario, popular SUVs and trucks, including the Honda CR-V, Lexus RX series, Dodge Ram and Ford F-150 dominate the list of most stolen vehicles.

Ivans says auto thefts are especially common near port cities, because organized crime syndicates can then easily load the vehicles on shipping containers and quickly sendthem overseas.

But he adds that southern Ontario and the Toronto area saw a drop in auto thefts in the first quarter of this year because of more policing efforts to prevent cars from being stolen.

RATESDOTCA's report found that in Toronto, the comprehensive premium portion of auto insurance is 408 per cent more for a 2024 Dodge Ram compared to a 2018 model.

The same report found that a less commonly stolen vehicle, like the 2024 Volkswagen Jetta, would cost only six per cent more to insure for the comprehensive portion compared to a 2018 model of that car.

Preventing car thefts

Elliott Silverstein, CAA's director of government relations, says there needs to be a greater focus on preventing car thefts in the first place.

"We need manufacturers to make it tougher for cars to be stolen," he said.

"The last time that the technology standards were updated in Canada was 2007. And a lot has changed in 17 years."

Silverstein says it would take federal legislation to force manufacturers to make their vehicles more difficult to steal.

"We know that the federal government has said that it is exploring this, and that was earlier this year, but they really need to, to bring it into action," he said.

Beyond updates from car manufacturers,Silverstein says there are steps drivers can take to protect their vehicles from theft. The simplest is remembering to lock their doors.

"If you have a garage and you're not using it, do it today. Make that habit to get your car in the garage," Silverstein added.

He said immobilizers and steering wheel locks are also options to make it more difficult to steal a car, and can also lower a person's insurance rates in some cases.