New data from the Insurance Bureau of Canada (IBC) shows that Alberta has seen an “alarming” increase in auto theft claims costs in recent years.
The cost of auto theft claims in Alberta rose 55% between 2021 and 2023, and rates have risen even further in major cities, including Calgary and Edmonton.
According to the IBC, Alberta’s auto insurance system is facing some of the highest cost pressures in Canada, and legal costs now account for a greater portion of the auto insurance premiums drivers pay in Alberta than anywhere else in the country.
Data also shows that Alberta came in second in Canada for the amount spent per claim to repair vehicles, as well as the frequency at which vehicles are stolen.
“The auto theft crisis continues to persist across Alberta, and it’s adding pressure to the cost of auto insurance for all drivers,” said Aaron Sutherland, vice-president of Western and Pacific, IBC.
“Auto theft disrupts lives and creates fear in communities across the province. Urgent action must be taken to address this growing trend.”
Here are the five cities in Alberta that the IBC says have seen a significant increase in recent years:
Calgary
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Car theft in the City of Calgary rose by 59% between 2021 and 2023, costing $20,856,769 in 2021 to a whopping $33,076,848 in 2023.
Medicine Hat
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According to the IBC, Medicine Hat has seen a staggering 72% increase in car theft costs, increasing to a total of $672,398 in auto claims costs last year.
Edmonton
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In Edmonton, car theft insurance claims cost $26,193,922 last year, which is a 66% increase between 2021 and 2023.
Lethbridge
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Auto theft claims in Lethbridge have risen by 30% in the last three years, totalling $955,716 in 2023.
Fort McMurray
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Fort McMurray saw a massive 60% increase in auto theft claims, rising to $3,311,123 in 2023.