Recent data from LV= General Insurance found that car parts are becoming a target for thieves, with thefts of keyless cars continuing to rise. The most common targets for thieves include airbags, steering wheels and catalytic converters.
Since 2017, thefts of steering wheels have risen by 133 percent, with demand for airbags, gear sticks and any dashboard components also doubling.
The average claims cost for theft of a steering wheel and airbag is around £7,000, with the most expensive claim reaching £41,000 due to a write off of the vehicle because the entire dashboard was stolen.
Thieves are selling these items on to car garages, who can fit these parts at a much lower cost than buying them brand new.
With the cost of living crisis and bills rising for many, car owners may also be more inclined to accept a “second-hand” part to help lower the costs of maintaining and running a car.
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Alex Hammond-Chambers-Borgnis, Interim Underwriting Director at LV= General Insurance, commented on the data, saying that thieves are looking to sell on the stolen items.
She added: “We’re certainly seeing an increase in car-related thefts and any spare parts opportunistic thieves can get their hands on to make some extra cash.
“This is also being fuelled by the fact car parts are currently in very high demand as a result of global supply chain disruption, which is adding to the problem.
“With second-hand cars also skyrocketing, we’re seeing all types of vehicles being stolen, and keyless cars in particular remain a problem.
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“The technology of keyless cars continues to improve as more cars are produced, but unfortunately it doesn’t take long for thieves to work out a way to steal them and advance their own tactics.”
LV= GI is also seeing a peak rise in thefts of newer keyless cars such as Audi, BMW, Mercedes and Land Rover, up 19 percent from 2021.
However, it’s not just higher value cars on the rise, with car brands such as Hyundai, Kia, Vauxhall, Ford, Lexus and Toyota also becoming a target for any parts thieves can get their hands on.
Catalytic converter thefts have been on the rise for a number of years, accounting for around 10 percent of car insurance thefts since 2016.
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However, the car part which is highly desired due to the precious metal hit a record high last year, accounting for 20 percent of all car insurance theft claims, and has remained a substantial problem in the first half of 2022.
In May, a new national initiative was launched to prevent, deter and detect catalytic converter theft.
Drivers are now able to have their catalytic converters marked with a unique, invisible and unremovable solution that has been proven to deter thieves and help police identify stolen property.
The introduction of the scheme follows the success of an initiative led by the Home Office-funded National Infrastructure Crime Reduction Partnership and supported by Toyota and SmartWater.
The project has achieved a 57 percent reduction in catalytic converter thefts.
The process is simple and can be carried out as an additional service to an MOT or regular vehicle servicing.
With the vehicle on the ramp, a special SmartWater high temperature product is applied directly to the catalytic converter and the unique formula reference number is logged on the database against the vehicle registration number.
Deterrent labels are also affixed to the vehicle, sending out a powerful warning to would-be thieves.
This method is far more effective than the impression of serial numbers, which can be seen and easily removed by criminals, as the technology is invisible to the naked eye and only glows yellow under UV light.
The product is almost impossible to remove and any attempt results in thieves’ clothing, tools and location being contaminated with the incriminating evidence.
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