Insurance companies issue surcharge for 'high theft' vehicles
It's an epidemic across the country and it's costing insurance companies over a billion dollars a year with the bulk of that, several hundred million, right here in Ontario.
Vehicle thefts continue to explode and some insurance companies are looking at more direct ways to recoup their losses.
- Sign up now for daily CTV News Ottawa newsletters
- The information you need to know, sent directly to you: Download the CTV News App
According to Équité Association, Honda CRVs are at the top of the list of the most stolen vehicles in Ontario, followed by the Lexus RX series, Dodge Rams, Toyota Highlanders and Land Rover Range Rovers. An average of five vehicles are stolen in the nation's capital every day.
One Ottawa resident was shocked when a letter arrived from his insurance provider ahead of his policy renewing.
"I said, well, I really don't feel like paying this extra $400 a year or purchasing this tracker because of privacy concerns," said Austin Lonsdale.
His provider, Desjardins Insurance, said because his vehicle was a 2021 Honda CRV, it was identified as being at a high risk of theft and he had to pay a $400 annual surcharge or install a tracking system called Tag.
"Well, it does have privacy issues to me. I mean, I've been thinking about it and I mean, you know what? What would these people be doing? Who's going to be tracking the information or what are they going to be using it for? So there are privacy concerns there for sure," he said.
The letter said to call the insurance provider with the tracking system information.
In a statement to CTV News, Desjardins Insurance said in part, "TAG is a system for tracking and retrieving stolen vehicles and is not used to analyze driving habits and behaviours. Desjardins Insurance only receives information about the location of the vehicle after a theft is reported and when the police have retrieved the vehicle. Desjardins Insurance no longer offers to pay for a tracking system."
The Insurance Bureau of Canada says auto theft related claims in Ontario have increased 329 per cent between 2018 and 2022.
"That is a lot of money that insurers didn't account for in terms of calculating premiums because claims cost drive premiums. So as claims costs increase, insurers have to take a look at what they're charging for premiums, claims costs, put pressure on premiums," said Amanda Dean, the vice president for the Ontario and Atlantic Regions of the Insurance Bureau of Canada.
Lonsdale said the experience of finding out his vehicle was on the most likely to be stolen list has him reconsidering leasing the CRV again,
"I'm really leaning on not getting another Honda CRV. It's too bad because this is my second one and I was planning on a third, but now I'm starting to think of maybe going towards another vehicle that's not on the high theft list."
CTVNews.ca Top Stories
India's foreign minister reacts to murder charges, claims Canada welcomes criminals
India's Foreign Affairs Minister accused Canada of welcoming criminals from his country in response to the RCMP's recent arrests in a homicide that has roiled tensions between the two countries.
15-year-old boy stabbed in Ottawa on Thursday dies
A 15-year old boy who was critically injured after a stabbing in Nepean on Thursday has died of his injuries, Ottawa's English public school board said Sunday.
Dash cam catches moment suspected drunk driver hits parked car, sends it careening into North Shore flower shop
Police say it’s fortunate no one was injured or killed in a collision at North Vancouver’s Park and Tilford shopping centre Saturday evening that sent one vehicle careening into a flower shop and another into a set of concrete barriers outside a Winners store.
Actor Bernard Hill, of 'Titanic' and 'Lord of the Rings,' has died at 79
Actor Bernard Hill, who delivered a rousing cry before leading his people into battle in 'The Lord of the Rings: The Return of the King' and went down with the ship as the captain in 'Titanic,' has died.
'A tiny city:' Pro-Palestinian campus protesters organize for another week
Pro-Palestinian activists have set up tents at universities in Toronto, Ottawa, Vancouver and Montreal, following a wave of similar protests at campuses in the United States linked to the Israel-Hamas war.
Lawsuit against Meta asks if Facebook users have right to control their feeds using external tools
Do social media users have the right to control what they see — or don't see — on their feeds?
A Holocaust survivor will mark that history differently after the horrors of Oct. 7
This year's Holocaust Remembrance Day, which begins on Sunday evening in Israel, carries a heavier weight than usual for many Jews around the world.
Princess Anne lays wreath at Battle of Atlantic ceremony; honours late Queen
Princess Anne saluted Canadian veterans and current forces members and honoured her late mother during separate ceremonies Sunday in Victoria as she wrapped up a three-day British Columbia West Coast royal visit.
El Nino weakening doesn't mean cooler temperatures this summer, forecasters say
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.