524% increase in car thefts in Ontario

New data from the Insurance Corporation of Canada (IBC) shows that auto theft has increased dramatically across Canada in recent years. Requests to replace stolen cars hit a record high of $1.5 billion in 2023. This is the second year that car theft claims have increased to $1 billion. The insurance organization reported that between 2018 and 2021, the cost of car theft claims averaged $556 million per year, and over five years (2023-2018), Car theft claims have increased by 254% in the country.

According to experts, these shocking numbers show how car theft disrupts the lives of Canadians and causes them trauma and worry. Car theft places a heavy burden on law enforcement and the courts, which tirelessly deal with these crimes. do The car theft crisis in Canada has also caused an increase in motorists' insurance premiums. According to reports, luxury and high-end cars are often targeted by thieves. In many cases, stolen cars are exported to international markets by domestic and international criminal organizations.

The proceeds are used to finance drug trafficking, the arms trade and international terrorism. It has suffered the most theft cases, with car theft claims increasing by 524% between 2018 and 2023, surpassing $1 billion in 2023 for the first time. Some people now use steering wheel locks and tracking devices to protect their cars from theft.

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