Advertisement

Toronto ranked costliest city for auto theft claims in Ontario

Click to play video: '$33.2M worth of stolen vehicles recovered, many at Port of Montreal: Peel police'
$33.2M worth of stolen vehicles recovered, many at Port of Montreal: Peel police
WATCH - $33.2M worth of stolen vehicles recovered, many at Port of Montreal: Peel police – May 27, 2024

The Insurance Bureau of Canada has released a list of the costliest cities in Ontario for auto theft claims and Toronto has topped that list with a staggering 561 per cent increase in costs over the last five years.

According to the data from the IBC, the costs for auto theft claims have surged.

When it comes to how much auto theft claims cost in 2023, the IBC’s data showed Toronto saw the highest amount overall at around $371 million, followed by Brampton with $93 million in costs, Mississauga with nearly $90 million and Vaughan with $62 million. Markham was ranked fifth with $43 million.

Other GTA cities to round out the top 10 were Ottawa, Oakville, Richmond Hill, Hamilton and London.

In another list of data, IBC said there are several “mid-sized” cities in southern Ontario with high percentage increases in auto theft claims costs even if the overall costs were lower than the top 10 list of claims costs.

Story continues below advertisement
Click to play video: 'Feds to focus on auto thefts as insurance costs rise for Canadians: Anand'
Feds to focus on auto thefts as insurance costs rise for Canadians: Anand

IBC’s data showed Whitby had the highest increase, 2,269 per cent, in auto theft claims costs from 2018 to 2023 — from $512,751 to just over $12 million.

Breaking news from Canada and around the world sent to your email, as it happens.
For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

Pickering saw a 1,228 per cent jump over the five years from $802,520 to just over $10 million, the data indicated.

“Ontario is seeing an alarming increase in auto theft claims and auto theft claims costs,” said Amanda Dean, vice-president, Ontario and Atlantic, at the IBC.

“As IBC’s numbers reveal, the Greater Toronto Area has been hit particularly hard by the auto theft crisis,” Dean said. “These claims costs speak to the growing severity of the auto theft crisis in Ontario – a crisis that is having a material impact on auto insurance premiums, to say nothing of the concern and trauma it is causing Ontarians.”

Story continues below advertisement
Click to play video: 'Business Matters: Auto insurance costs to rise in 2024, new report says'
Business Matters: Auto insurance costs to rise in 2024, new report says

Dean said in an interview that nationally, the IBC saw $1.5 billion in claims costs for replacing stolen vehicles, with Ontario breaking the $1 billion mark.

“It is incredible when you think of how many claims that would entail,” she said. “Even we were shocked at some of the percentage increases in some of the communities.”

She said their data shows auto thefts is “beyond crisis, we are in an auto theft epidemic in Ontario.”

Bryan Gast, vice-president of the investigative services division at Équité Association, told Global News that 2023 was a “bad year” for auto thefts and he is not surprised by IBC’s numbers.

Click to play video: 'Car insurance rates going up in Canada due to theft crisis'
Car insurance rates going up in Canada due to theft crisis

However, he said a lot of measures have been put in place since late last year that are giving him hope for improvement in the situation.

Story continues below advertisement

Already, Gast said they haven’t seen a spike in auto theft activity in 2024 like they saw between 2022 and 2023.

“I’m cautiously optimistic that we’re starting to see some positive effects from the measures that have been put in place,” he said. “There are some early indications 2024 is definitely looking better than 2023.”

— with files from Global News’ Eric Stober

Sponsored content

AdChoices