Drivers are always looking for ways to save on auto insurance. Watch television for any period of time, and you are bound to come across several ads promising lower rates or higher savings.
Earlier this year, MAIF’s Executive Director, Kent Krabbe appeared in the “FYI” segment of the PBS show, MotorWeek, offering tips for lowering your insurance rates. One of the tips he offered was to make sure that the car you own has a low theft rate. Vehicles that are more commonly stolen cost more to insure.
Last week, the Insurance Institute for Highway Safety’s Highway Loss Data Institute (HLDI) released its theft ratings for 2012.
The Ford F-250 pickup has the highest theft rate, taking the top spot from the Cadillac Escalade. The Escalade dropped from first to 6th, thanks to added anti-theft features and decreasing popularity, marking the first time since 2003 that the Escalade hasn’t topped the list.
The ten vehicles with the highest theft rates are classified as large or very large pickups or SUVs. HLDI credits theft of equipment from the beds of these trucks for part of that theft rate.
The ten vehicles with the highest theft rates are:
- · Ford F-250 4WD
- · Chevrolet Silverado 1500
- · Chevrolet Avalanche 1500
- · GMC Sierra 1500
- · Ford F-350 4WD
- · Cadillac Escalade
- · Chevrolet Suburban 1500
- · GMC Sierra 1500 (extended cab)
- · GMC Yukon
- · Chevrolet Tahoe
Topping the list for vehicles with the lowest theft rate are:
- · Dodge Journey 4WD
- · Volkswagen Tiguan 4WD
- · Audi A4, Acura RDX
- · Toyota Matrix
- · Lexus HS 250 Hybrid
- · Honda CR-V
- · Hyundai Tuscon 4WD
- · Toyota Sienna 4WD
- · Jeep Compass 4WD
If you find yourself shopping around for a new car or looking to take advantage of those End-Of-Model & Labor Day sales in a few weeks, you may want to give the cars on that second list a look. It could save you a few bucks each month in insurance premium.
In addition to the IIHS reports, the National Insurance Crime Bureau publishes their own theft rate findings. Recently, the NICB rated the ten highest auto theft “hot spots” in the U.S. for 2012. Modesto, California was ranked #1 and Fresno, California was ranked #2, swapping positions from their 2011 rankings. In fact, eight of the top ten hot spots are located in California.
In Maryland, the highest ranked area on the NCIB’s Hot Spot list is Baltimore-Columbia-Towson, ranking 93rd with 6,736 thefts in 2012. You can view the full list of Hot Spots, and get theft ranking information from all 50 states on this interactive map.
While you’re there, make sure to check out the NCIB’s “Four Layers of Protection” plan to prevent car theft.
