Halifax, Nova Scotia — Newly released data from the Insurance Bureau of Canada (IBC) indicates that Atlantic Canada is becoming a “hot spot for auto theft,” with a 13 percent increase in auto theft claims in the first half of this year—the largest increase in Canada.
In addition to the surge in auto theft claims, the costs related to these claims are also increasing. In the first half of 2024, claims costs increased by 11.8 percent over the previous year.
“Alarmingly, auto theft claims costs have soared by 265 percent over the past decade in Atlantic Canada,” wrote IBC in an Oct. 15 press release.
Nova Scotia saw the highest increase in auto theft claims in the Atlantic region, with a 26.6 percent increase when comparing the first half of 2024 to claims received in the first half of 2023. New Brunswick experienced a 14.4 percent increase; Prince Edward Island saw a 10.5 percent increase, while Newfoundland and Labrador experienced a 26 percent decrease in theft—though overall claims on the Rock remain consistent with 2023 reports.
“Opportunistic car thieves are increasingly shifting their focus to Atlantic Canada and away from provinces such as Ontario and Quebec, which have invested significantly in combating auto theft,” said Amanda Dean, vice president of IBC Ontario and Atlantic. “The growth in auto theft in Atlantic Canada is putting pressure on auto premiums and compromising the safety and security of residents.”
IBC is calling on all orders of the Atlantic Canadian government to implement recommendations outlined in the federal government’s National Action Plan on Combatting Auto Theft. Released in May 2024, the plan includes many of the recommendations that the home, auto, and business insurance industry submitted to the government.
“Atlantic Canada is in the midst of an auto theft crisis, and without action, it will only get worse,” added Dean. “We need provincial governments to work swiftly with the federal government to implement the recommendations in the national action plan. Specifically, we need investments in Atlantic ports to make it more difficult to export stolen vehicles. We also need the Atlantic provinces to provide more resources for inter-agency law enforcement focused on auto theft.”
As IBC noted in a media release earlier this year, the value of insurance claims for auto theft hit $1.5 billion for the first time in 2023. According to IBC, 2024 numbers are even higher.
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