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Car theft is without doubt an emotionally difficult situation to deal with. A recent study by GoCompare revealed that 69% of UK drivers are worried about an increase in vehicle crime, with 20% stating that having a car stolen is one of the worst things you can experience.

However, vehicle theft can also have a detrimental impact on your finances. The study found that 44% of those surveyed felt that it would have both an emotional and a financial effect on their lives.

One of the biggest concerns following a theft of any kind is insurance. Motor insurance companies view car theft as an increased risk, and this can affect your car insurance rates.

The impact of car theft on insurance premiums 

Following a vehicle theft, the insurance company will assess how likely it is that they will have to pay out in the event of a claim, and adjust their car insurance premiums accordingly.

The GoCompare study shows that the average extra cost of car theft to annual car insurance premiums was £628 per year, with a range of £513 to £743 per year. The increase in car insurance premiums is determined by a variety of factors such as the make and model of the car, the insurance provider, geographical location (e.g. the number of fraudulent claims made in your area) and the level of car security.

For example, the Ford Fiesta is the car model most likely to be stolen, with more than 5,700 being taken over the last 12 months. This is followed by the Range Rover, with over 5,200 reported stolen over the last year. 

Will a car theft affect my no claims discount?

A no claims discount (NCD) is a great way to reduce the cost of your car insurance. For each year that you drive without claiming, the cost of your insurance for the following year is deducted.

However, if your car is stolen and not retrieved by the police, this will have a negative impact on your NCD.  As car theft could be considered a ‘claim’ by your insurance provider, you will lose your NCD. This means that when you take out car insurance again, the cost of your policy will increase.

Is car theft preventable?

Car manufacturers are constantly introducing new car security features to make theft more difficult. Anti-theft devices such as car alarms, immobilisers and tracking systems significantly reduce the chances of a car being stolen, which can lead to savings in car insurance premiums in the long-term.

However, standard manufacturer tracking devices are not always the most effective car security measure available. It is recommended that car owners upgrade their car security features to a third-party provider, as, although their covert devices can't prevent theft entirely, they do offer the best possible chance of recovery in the worst-case scenario.

Sophisticated criminals can use a relay box to authorise a keyless theft. This increase in tech-savvy theft makes it more and more difficult to guard against the crime. However the most advanced tracking devices have features that make detection virtually impossible. These include:

  • Covert fitting - this means that your device will be hidden in a place that is extremely difficult to find, even by the savviest criminals

  • Thatcham and Secured by Design accreditation - this provides you with reassurance that, should your vehicle be stolen, there is a high chance that it can be quickly recovered and returned to you

  • Support from an expert team of recovery specialists - notifying your supplier that your car has been stolen should set off a responsive recovery team to trace and recover your vehicle


About AX Track

Here at AX, we have developed a comprehensive portfolio of technological solutions, supported by a team experienced in the recovery of stolen vehicles across the UK and beyond. 

We have one of the highest vehicle recovery rates in the industry, at 99.1%, and our technology is Thatcham Category S7 approved. In addition to this exceptional technology, AX Track also gives you the support of our AX Protect team. The combination of the two gives you the best possible chance of locating your vehicle should the unthinkable happen.

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