Toronto, Ontario — A new study from HelloSafe claims that a car is stolen in Ontario every 48 minutes and the bill for all that merchandise is starting to add up big time.
Supported by data from the Insurance Bureau of Canada, Statistics Canada, and several other organizations, HelloSafe’s study shows that auto theft costs insurance companies $542 million annually. In 2021, 10,900 auto thefts were reported to insurers.
The most targeted vehicles are SUVs, making up 47.2 percent of all auto thefts in Canada. The 2018 Lexus RX was Canada’s most stolen vehicle of 2021 and is worth around $50,000.
Sedans and trucks make up for 34.7 percent and 12.4 percent, respectively, of auto thefts.
On a regional basis, Alberta leads the nation with the highest index of stolen vehicles per ten-thousand residents at 13.1, followed by Ontario at 7.3 and Quebec at 5.9.
