Record Vehicle Thefts in 2023: A Nationwide Analysis (CLM)

Record Vehicle Thefts in 2023: A Nationwide Analysis

Thursday, April 18th, 2024 Auto Catastrophe Insurance Industry

In 2023, the U.S. witnessed a marginal yet record-breaking increase in vehicle thefts, totaling 1,020,729, a 1% rise from the previous year, as per the National Insurance Crime Bureau (NICB). This escalation continues a trend that began in 2019, with the highest thefts reported in California and the highest theft rate in the District of Columbia. Urban and densely populated areas, notably the Washington, D.C. metropolitan area, saw significant increases in auto theft incidents, highlighting a correlation with economic distress and higher urban crime rates.

States like Maryland and Connecticut also experienced substantial rises in vehicle thefts, indicating a broader geographic spread of this issue. Meanwhile, regions like Denver-Aurora-Lakewood, Colorado, saw a notable decrease in theft incidents. This mixed regional data suggests varying effectiveness of local measures to combat auto theft.

The report also underlines the importance of adequate Uninsured Motorists (UM) coverage, as highlighted by Floyd Cottrell, a certified civil trial attorney. He notes that stolen vehicles are frequently used in other crimes and accidents, posing a heightened risk to uninsured drivers.


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External References & Further Reading
https://www.theclm.org/Magazine/articles/vehicle-thefts-surge-2023-nicb-auto/2916

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