It’s a beautiful Saturday morning and you decide to take your car out for a
spin. But when you open your front door, you discover your vehicle has been
stolen right from your own driveway. Immediately you ask yourself "out of all
the cars in the world, why steal mine?"
Thieves generally steal cars for one of four reasons: Resale in international markets where stolen cars can be sold for more than original market value
- To commit another crime
- Sales to unsuspecting consumers. Stolen cars may be given a fake vehicle identification number (VIN) to hide its origin
The Insurance Bureau of Canada (IBC) estimates a car is stolen every three minutes in Canada, that’s close to 500 cars per day! Is your vehicle attractive to thieves? Check out Canada’s top ten stolen vehicles in 2007 according to IBC statistics:
2007 Top Ten Stolen Vehicles in Canada:
1. 1999 Honda Civic SIR 2dr
2. 2000 Honda Civic SIR 2dr
3. 2004 Subaru Impreza WRX/WRX STi 4dr AWD
4. 1999 Acura Integra 2dr
5. 1994 Dodge/Plymouth Grand Caravan/Voyager
6. 1994 Dodge/Plymouth Grand Caravan/Voyager AWD
7. 1994 Dodge/Plymouth Caravan/Voyager
8. 1998 Acura Integra 2dr
9. 2000 Audi TT Quattro 2dr Coupe
10. 1994 Dodge/Plymouth Shadow/Sundance 2dr hatchback
Comprehensive or Specified Perils coverage on your insurance policy is designed to cover theft and damages caused by flood or fire to your vehicle. A deductible is the amount the car owner must pay before the insurance company pays the remainder of the loss. The deductible is usually mandatory and generally ranges between $250 – $1,000.
Insurance rates are in part based on the comprehensive deductible you choose. Normally, higher deductibles result in lower insurance rates. Another important way to lower your insurance rate, regardless of the deductible you choose, is to go to InsuranceHotline.com and get a free insurance quote which helps you find the lowest insurance rate from over 30 insurance companies.