UK Insurers pay £1 M each day for vehicle thefts
Saturday, 03 30 2019, Category: Insurance and Reinsurance, Country: United Kingdom
A surge in vehicle thefts, including keyless car crime, has led to motor insurers paying out a record £1 million (US$1.3 million) every day, according to figures published by the Association of British Insurers (ABI).
A new vehicle theft claim is now being made every six minutes, with Home Office figures showing a 50 percent rise in vehicle thefts over the last five years, said ABI.
“The resurgence in car crime is worrying. The record amounts paid to motorists by their insurers in part reflects the vulnerability of some cars to keyless relay theft,” said Laurenz Gerger, ABI’s motor policy adviser, in statement.
“Action by motor manufacturers to tackle this high-tech vulnerability, allied with owners taking some simple, inexpensive precautions will help reverse this unwelcome trend,” Gerger continued.
Source: Insurance Journal