New data shows severity of Canada’s worsening auto theft crisis

Theft insurance claims top $1.5 billion in 2023

Canada’s auto theft crisis is showing no signs of slowing down, according to new data released by Insurance Bureau of Canada (IBC). In 2023, the cost of insurance claims for replacing stolen vehicles in Canada skyrocketed to a record-breaking $1.5 billion. This marks the second year in a row auto theft claims costs have topped $1 billion. To put this into perspective, between 2018 and 2021, auto theft claims costs averaged $556 million annually.