 Auto theft claims fall under the comprehensive portion of auto insurance premiums. According to data released by the Insurance Bureau of Canada, auto theft claims in 2023 hit $1.5 billion, marking the second consecutive year theft claims have surpassed $1 billion, and nearly triple the annual average of $556 million from 2018-2022. In 2023, some insurers began instituting surcharges on premiums for commonly stolen vehicles as claims costs skyrocketed. 

<p> Auto theft claims fall under the comprehensive portion of auto insurance premiums. According to data released by the Insurance Bureau of Canada, auto theft claims in 2023 hit $1.5 billion, marking the second consecutive year theft claims have surpassed $1 billion, and nearly triple the annual average of $556 million from 2018-2022. In 2023, some insurers began instituting surcharges on premiums for commonly stolen vehicles as claims costs skyrocketed. </p>

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