Motor Insurers Paying Out Over £1 Million a Day Due to Surge in Vehicle Thefts, Including Keyless Car Crime
In recent years, there has been a worrying surge in vehicle thefts, with motor insurers now paying out more than £1 million a day to cover the costs. This increase in vehicle crime, including keyless car theft, has become a major concern for both car owners and insurance companies alike.
According to the Association of British Insurers (ABI), one new vehicle theft claim is now being made every six minutes on average. The total cost of vehicle thefts and thefts from vehicles reached a record high of £376 million in 2018, with 56,000 claims being made – a 12% increase from the previous year.
The rise in vehicle crime can be attributed to the increasing sophistication of technology, particularly keyless entry systems. Criminals are now using a technique called a “relay attack” to exploit this technology and steal cars with ease. By capturing the signal sent out by the car to the key fob, criminals can trick the car into thinking the key is nearby, allowing them to unlock and start the vehicle.
To combat this growing issue, the ABI recommends taking simple precautions to protect your car. This includes parking in well-lit areas, keeping car keys away from external doors or windows, and turning off the signal overnight or using a signal block pouch to prevent relay attacks.
Despite the rising costs of vehicle theft claims, the ABI reported a decrease in average premiums in 2018 – the first annual fall since 2014. However, the implementation of the Civil Liability Act is crucial to reducing high legal costs and keeping motor insurance competitively priced.
In response to the surge in vehicle thefts, Minister for policing and the fire service Nick Hurd has taken action by chairing the vehicle theft task force. This task force aims to strengthen the response to vehicle crime by improving security standards and preventing criminals from exploiting the salvage process.
As car owners, it is important to stay vigilant and take proactive measures to protect your vehicle from theft. By following the ABI’s tips and staying informed about the latest security measures, you can help prevent becoming a victim of car crime. Remember, a few simple precautions can go a long way in safeguarding your vehicle and keeping your insurance premiums low.