Monday, May 26, 2008
An Auto Theft Epidemic: Who Suffers?
When a car thief steals a car, victims and the community suffer the loss. New car values have risen dramatically over the past decade, and continue to increase. Apart from homeownership, cars are the most valuable asset owned by a family. The average value of a stolen car is $6,797, according to the FBI.
But beyond this issue of value, the effects of every car theft are profound. With each theft, car owners, their families, and all those who depend on those cars, are left in the lurch. Lives are disrupted, appointments are missed, kids aren't picked up, and a community's sense of safety is pierced. In addition to this very real human loss, are the fiscal costs - much of which we are all left to bear. Consider:
But beyond this issue of value, the effects of every car theft are profound. With each theft, car owners, their families, and all those who depend on those cars, are left in the lurch. Lives are disrupted, appointments are missed, kids aren't picked up, and a community's sense of safety is pierced. In addition to this very real human loss, are the fiscal costs - much of which we are all left to bear. Consider:
- Auto theft is a $8 billion dollar industry nationwide. The Insurance Information Institute estimates that approximately one-third of a typical comprehensive auto insurance premium goes to pay for auto theft claims.
- In Washington State, auto theft cost taxpayers over $273 million in 2003 in police costs alone.
- Even if you are an insured car driver, the FBI estimates that each car theft costs citizens $6,701 in insurance deductibles, replacement costs, alternative transportation costs, and increased insurance rates.
- In Washington State, $300 million was lost to car theft in 2004 alone!
These staggering numbers make a strong case for getting tougher on car theft and those criminals who are causing such harm.
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