InsWeb has addressed on multiple occasions, the subject of stolen vehicles, including the most stolen models and areas where they are stolen. It’s a fact that, both the area where a consumer parks their car at night, and the vehicle model they drive are among the factors that influence their auto insurance costs. If either the vehicle or the area are statistically prone to theft, insurance companies may charge higher insurance premiums.
Interesting, the same source that publishes the data about the most stolen vehicles, The National Insurance Crime Bureau (NICB), recently announced the States with highest motorcycle theft. According to the announcement, California leads the nation in motorcycle theft rates in 2005, followed by Florida, Texas, and then North Carolina. To view the complete list, vist: https://www.nicb.org
The article discusses how 70,613 motorcycles were stolen in 2005, representing a loss of over $434 million to motorcycle owners and the insurance industry. The NICB explains that motorcyclists can sometimes bring attention to their bikes with elaborate paint schemes and chromed parts to specialized frames and high-performance engines and exhaust systems. It's not uncommon for a motorcycle's base price to exceed $20,000 with aftermarket parts adding thousands of dollars more to the original cost. With recovery rates typically in the 25-30% range nationally, motorcycle owners need to take every precaution in protecting their investments.
The National Insurance Crime Bureau (NICB): http://www.nicb.org
Is Your Car on the Most Stolen List: http://www7.insweb.com/newsletter/1205/auto.htm
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