Vehicle Theft From Dealerships Surge: Key Statistics and Tips

Criminals are becoming increasingly successful at stealing vehicles using keyless entry hacks or key fob relay attacks. This growing threat highlights the importance of collaboration between the auto dealership industry, law enforcement, and the insurance sector to develop more effective strategies to combat vehicle theft.

According to the National Insurance Crime Bureau’s 2023 Vehicle Theft Report, a staggering 1,020,729 vehicles were reported stolen last year. Below, we explore the top three states with the highest number of thefts in 2023 and the states with the most significant year-over-year (YoY) percentage increase in thefts. The District of Columbia experienced a theft increase of 64%, which is more than three times the national theft rate.

And notice Maryland is right behind DC for the second largest car theft increase year over year.

Top Three States with the Highest Volume of Thefts in 2023

1. California – 208,668
2. Texas – 115,013
3. Florida – 46,213

Top Three States with the Largest Increase in vehicle thefts year over year

1. District of Columbia – 64%
2. Maryland – 63%
3. Connecticut – 33%

Prevent Vehicle Theft | Risk Management Tips for Dealerships

To help prevent vehicle thefts, dealerships can implement several risk management strategies:

• License Scanners: Use these to validate customers and tie into the Department of Motor Vehicles (DMV) website.
• Knowledge-Based Association Question Software: Employ this to enhance the verification process.
• Daily Vehicle Inventory Checks: Inspect for any damaged vehicles or those that may have had parts removed.
• Low Inventory of High-Value Vehicles: Promote quick turnaround and limit the number of days these vehicles are on the lot.
• Secure Storage for High-Value Models: Store these vehicles inside a locked building with wheel or steering wheel locks.
• Central Station Burglar/Fire Alarms: Install motion sensors on windows and doors both inside and outside the dealership.
• Live Video Monitoring: Set up systems that can notify local police if someone is on the lot after hours.
• Computerized Key Machines: Keep these locked in an office and away from public access.
• Work with Security Specialists: As vehicle theft methods evolve and new vulnerabilities arise, consider partnering with companies that specialize in key security controls for dealerships.

A good auto dealer insurance program will provide access to coverages such as false pretense, garage identity theft, and vicarious liability, among others. Contact our experienced program underwriters to help review your dealership’s loss prevention strategy and showcase the competitive premium options available through our excellent dealership programs.

Contact Huff Insurance for Your Auto Dealer Insurance Needs

At Huff Insurance, we understand the unique challenges faced by auto dealerships. Our team is dedicated to providing comprehensive coverage solutions tailored to meet the specific needs of your business. Whether you’re looking to protect against theft, liability, or other risks, we have the expertise and the right programs to ensure your dealership is safeguarded. Reach out to Huff Insurance today to discuss how we can support your auto dealer insurance needs and help you implement effective risk management strategies.

Call us today at 410-647-1111

Conclusion

Auto theft remains a significant concern, with sophisticated criminals employing new tactics to steal vehicles. By adopting proactive risk management measures, dealerships can better protect their inventory and reduce the likelihood of theft. Partnering with insurance providers like Huff Insurance ensures that you have the necessary coverage to mitigate risks and recover swiftly from any incidents. Stay vigilant, stay informed, and take the necessary steps to safeguard your dealership from vehicle theft.