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Wednesday, November 19, 2014

Living a life of luxury

Luxury CarFor many drivers, the ultimate goal is to one day cruise down the road in their own brand-new, fully loaded luxury vehicle. Personally, I’ve always feared that owning an expensive, high-end car would make me a greater target for thieves. That’s why I was so intrigued by a recent report by the National Insurance Crime Bureau (NICB) on luxury vehicle theft.

Surprisingly, your chances of being a victim of car theft aren’t as high as you may think. From 2011–2013, 5,570 luxury vehicles nationwide with model years 2011, 2012 and 2013 were reported stolen to police. While that total is certainly nothing to sneeze at, it represented a small fraction of overall car thefts; in 2012 alone, more than 720,000 vehicles were reported stolen, according to the Insurance Information Institute (I.I.I.).

Where did most luxury auto thefts occur? The top state was California (1,390), followed by Florida (863) and New Jersey (570). Those same three states were also tops in vehicles that went unrecovered after being reported stolen; Florida led the way with 218 (more than 25 percent) remaining unrecovered. Nationwide, 963 of the stolen luxury vehicles (roughly 17 percent) remained unrecovered.

So while purchasing a luxury vehicle may put a dent in your wallet, don’t let a fear of theft stop you from buying the vehicle of your dreams. And be sure to always take the necessary steps to protect yourself from auto theft.

Maybe I’ll get that Bentley after all.

from GEICO Blog


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