Installing a recovery device in your vehicle can reduce auto theft and premiums.
Insurers are responding to the skyrocketing rates of auto theft across Canada — particularly in Ontario, where the issue is the most prevalent.
The increasing number of claims being filed in response to theft, and also damage caused by attempted theft, is not only impacting auto insurance premiums overall, it’s also resulting in additional restrictions and/or requirements for drivers who are insuring a high-theft vehicle, such as:
- Paying a higher deductible.
- A surcharge being applied to a policy.
- Coverage limitations being added to a policy.
- Having coverage be dependent on the installation of an approved theft recovery device.
Auto theft claims in Ontario increased by nearly 330% between 2018 and 2022.
Source: Insurance Bureau of Canada
Tracking Systems Offer a Road to Recovery
Installing an approved theft recovery device — such as the TAG Tracking and Recovery System — offers three key benefits:
- The device itself acts as a deterrent and may prevent auto theft in the first place.
- The device can quickly locate a stolen vehicle, resulting in prompt action to recover it.
- The device may result in lower auto insurance premiums.
Installing an approved theft recovery device is advantageous for every driver, but it’s an extremely wise investment for drivers in Ontario, as well as those who own high-theft vehicles.
One vehicle is stolen every five minutes in Canada.
Source: Insurance Bureau of Canada
What To Do if Your Vehicle is Stolen
Should your vehicle be stolen, promptly contact:
- The call centre for your theft recovery device, if you have one installed, to initiate the tracking and potential recovery of your vehicle.
- The police to report the vehicle as stolen.
- An Acera Insurance advisor to start a claim.
Acera Insurance is Your Partner in Auto Theft Prevention
Contact an Acera Insurance advisor if you have any questions about how installing an approved theft recovery device may impact your auto insurance premium, as well as help recover your vehicle in the event it is stolen.
Additionally, our team can discuss the coverage options available with your existing insurer if your car, truck or SUV is classified as a high-theft vehicle.