Secured with SHA-256 Encryption

Select Page

Auto Theft Rate Drops for Sixth Straight Year

Home » Auto Insurance » Auto Theft Rate Drops for Sixth Straight Year

FREE Car Insurance Comparison

Compare quotes from the top car insurance companies and save!

 Secured with SHA-256 Encryption

Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001...

Full Bio →

Written by

Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency...

Full Bio →

Reviewed byJoel Ohman
Founder, CFP®https://res.cloudinary.com/quotellc/image/upload/insurance-site-images/truthaboutins-live/2020/03/joel-ohman.jpg

UPDATED: Mar 13, 2020

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We partner with top insurance providers. This doesn't influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

down

The auto theft rate in the United States dropped for the sixth straight year in 2009, according to the National Insurance Crime Bureau (NICB).

One would assume with the way the economy is going, auto theft would be on the rise, but statistics compiled by the NICB reveal quite the opposite.

The group reported that auto thefts have fallen a whopping 18.7% in the first six months of 2009 compared to the first six months of 2008.

This is good news for all of us with auto insurance, because insurance companies spread the cost of theft among all of us when determining car insurance rates.

In the event your car was stolen, you would need to have comprehensive coverage on your auto policy in order to be compensated. “Comp,” in addition to collision coverage, constitutes the physical damage portion of your auto policy.

Physical damage coverage is not mandatory on a vehicle unless you have a loan or are leasing the vehicle. Your lender (lienholder) typically requires this coverage to protect their interest in the car. They want to make sure it gets fixed or replaced in the event of an accident.

Liability insurance is the other piece of the puzzle. This minimum car insurance coverage, or at least the minimum liability limits, are mandatory in almost every state.

The states that do not require auto insurance still enforce laws that require a form of bond, or self insurance that demonstrates a threshold of financial responsibility.

“Full coverage” is the term used to describe a policy that has both liability and physical damage coverage.

Laredo, Texas top spot for car theft.

If you’re wondering where the worst place for car theft is…it’s Laredo, TX. If you’re not familiar, it’s located at the very tip of Texas, on the border of Mexico.

In fact, there is a “mirror” town on the Mexico side of the border know as Neuvo Laredo. The area is known as a narcotic trafficking area, which is probably tied to the elevated auto theft rate.

Laredo “stole” the top spot (pun intended) from Modesto, California, which was number one in 2008. Don’t worry though California, you still have three of the top four spots according the data collected by the NCIB; Modesto fell to number two, followed by Bakersfield, Stockton and Fresno CA.

Modesto and Laredo may have some serious competition in 2010 though, as Fresno jumped five spots in 2008 from number ten on the list.

The moral of the story is; stay away from the southern tip of Texas and most of inland, central California if you don’t want an abnormally high chance of having your car stolen.

For those who live there, it is recommended you purchase full coverage auto insurance and make sure to keep your doors locked at night!

Top 10 Cities for Car Theft

1. Laredo, TX
2. Modesto, CA
3. Bakersfield, CA
4. Stockton, CA
5. Fresno, CA
6. Yakima, WA
7. Bay Area, CA
8. Visalia-Porterville, CA
9. Las Vegas, NV
10. Albuquerque, NM

FREE Car Insurance Comparison

Compare quotes from the top car insurance companies and save!

 Secured with SHA-256 Encryption