Car theft is a major problem in the United States, with an estimated 707,758 vehicles stolen in 2019 alone. This is a staggering number, and it’s only getting worse. As car theft rates continue to soar, many people are wondering if their insurance rates will go up as well.
The answer is yes, insurance rates are likely to increase as car theft rates rise. Insurance companies are in the business of protecting their customers from financial losses, and car theft is a major risk. As such, they must factor in the increased risk of theft when calculating premiums.
The good news is that there are steps you can take to reduce your risk of car theft and, in turn, lower your insurance rates. One of the most effective ways to do this is to install an anti-theft device in your vehicle. These devices can be anything from a simple steering wheel lock to a more sophisticated GPS tracking system. Installing an anti-theft device can help deter thieves and, in some cases, even help the police recover your vehicle if it is stolen.
Another way to reduce your risk of car theft is to park in a secure location. If you have a garage, use it. If not, try to park in a well-lit area or one that is monitored by security cameras. This can help deter thieves and make it easier for the police to recover your vehicle if it is stolen.
Finally, you should always make sure to lock your car and take your keys with you. This may seem like common sense, but it’s surprising how often people forget to do this. Taking these simple steps can help reduce your risk of car theft and, in turn, lower your insurance rates.
Car theft is a serious problem, and it’s only getting worse. As such, insurance rates are likely to go up as car theft rates rise. However, there are steps you can take to reduce your risk of car theft and, in turn, lower your insurance rates. Installing an anti-theft device, parking in a secure location, and always locking your car and taking your keys with you are all effective ways to reduce your risk of car theft and, in turn, lower your insurance rates.
