Just as some cars and trucks prove popular with buyers, others are irresistible to thieves. To determine whether the car you're driving is among those prone to crime, the Highway Loss Data Institute, an organization funded by the insurance industry, examines the relative risk of various models. They look at the losses its member companies sustain and the likelihood that a vehicle will be the subject of theft.
HLDI probed all auto theft claims, counting not just stolen vehicles but thefts of parts and items left in the car. Anything that generated a theft-related insurance claim was recorded by the institute. The institute then compared that amount with the amount the insurance companies paid out for those theft claims.
For the Cadillac Escalade EXT, the average theft payment per insured vehicle per year was $302. For comparison purposes, the Buick LeSabre ran up a payment for all theft losses of just $1 per insured vehicle, while the average for all cars was $15. The average loss payment per claim with an Escalade EXT was $14,939. For the Buick LeSabre, it was $3,201, and for all cars, it was $5,928.
"The high payments that we see with the Escalade indicate that the entire vehicle is being stolen," says Russ Rader, director of media relations for HDLI. "When it is not the vehicle, reports from theft investigators suggest that it is often expensive wheels and tires that are being stolen from Escalades." Wheels and tires for this vehicle can exceed $10,000 in value. Adding to its theft appeal is the vehicle's high profile in popular culture.
In addition to looking at theft losses from the perspective of the total payout per incident, the HDLI looks at the number of vehicles registered. First, it compares the average payouts from theft claims for all cars and trucks insured during the year. Then it looks at the payouts by make and model to create its theft indexes -- with 100 being average -- to rate each model's relative appeal to thieves.
Again, the Cadillac Escalade EXT came out on top, with an index of 1,124, suggesting that its losses associated with theft were more than 20 times the average for all vehicles.
Highest Theft Claim Frequencies -- 2001 To 2003 Vehicles
Vehicle: Cadillac Escalade EXT (2002-03) Size/Type: Large Luxury Pickup
Claim Frequency: 20.2
Avg. Loss Payment Per Claim: $14,939
Avg. Payment Per Insured Vehicle Per Year: $302
Vehicle: Nissan Maxima (2002-03) Size/Type: Midsize Four-Door Car
Claim Frequency: 17.0
Avg. Loss Payment Per Claim: 4,126
Avg. Payment Per Insured Vehicle Per Year: 70
Vehicle: Cadillac Escalade Size/Type: Large Luxury Sport Utility Vehicle
Claim Frequency: 10.2
Avg. Loss Payment Per Claim: 15,703
Avg. Payment Per Insured Vehicle Per Year: 160
Vehicle: Dodge Stratus/Chrysler Sebring Size/Type: Midsize Four-Door Car Claim Frequency: 8.3 Avg. Loss Payment Per Claim: 5,483 Avg. Payment Per Insured Vehicle Per Year: 54
Vehicle: Dodge Intrepid Size/Type: Large Four-Door Car Claim Frequency: 7.9 Avg. Loss Payment Per Claim: 5,394 Avg. Payment Per Insured Vehicle Per Year: 43
To keep yourself from becoming the victim of a car thief, the National Insurance Crime Bureau suggests you do the following:
Use common sense. Lock your car and take your keys. Don't leave valuables in the car if you can avoid it, but if you must, lock them out of sight in the trunk, glove box or center console.
Use technology. While nothing is guaranteed to make your vehicle theft-proof, alarm systems, hidden switches that immobilize your vehicle (also known as a "kill" switch) and tracking devices can be worthwhile. Depending on your insurance company, the installation of one or more of these devices could also result in a discount on your comprehensive premium.
It is impossible to know which car will be stolen next. However, if you own an expensive model, you're much more likely to be targeted than those drivers with a lower-end model.
