Insurance 101: Vehicle & Content Theft / Risk Management Trends

Being the victim of theft is a uniquely painful situation for any policy holder to face. In protection on your assets, we routinely outline your current policy schedule, outline any revisions or new purchases, as we try to ensure the coverage is as broad and responsive if we need to file a claim for any physical damage or liability exposure.

If your vehicle is stolen, here are some basic pointers that everyone should take into consideration:

Step by Step:

1.      If you find that your vehicle is not where you left it --- check your surroundings, call the police, and move to a safer location; ideally well lit, with other people and security.

2.      Have the police respond to write a police report.

3.      Check with the property management and security team to see if there were any cameras in the theft that can identify the time, and details of the thief.

4.      If you subscribe to OnStar, satellite radio, or have a portal application, they may have a GPS system that may be able to track the vehicle.

5.      Call your insurance company and open a claim, simply putting them on notice, and line out a claims auto rental – so that you have regular transportation.

6.      If you have a lease or financing on your vehicle, notify your lender or dealership to put them on notice.

7.      Create an inventory of personal contents that were in your vehicle.

a.      Phone, briefcase, laptop, newly acquired shopping bags, personal prescriptions, presents, jewelry, cash, registered firearm, GPS tags, media, etc.

RECOMMENDATION

In your auto – consider removing your “home” or “office” address from your location, and/or removing your garage door opener, and home keys from your set – especially when you valet park, or extended stay park (like an airport). Limit any personal information that you can from non-owners of your assets.

o   Vehicle stolen from garage:

§  Vehicle was left unlocked with the keys inside – teenagers that were friends of the owner’s Father snuck in, took the vehicle out for a joyride, wrecked and left the vehicle.  Total loss. All teens eventually confessed.

·         Smash & Grab:

o   At the mall – you have one more thing to pick up but have too many bags. You go to your car, drop the bags, close and lock the car.  You return to find glass shattered in the parking lot and the bags are gone. Some would-be thieves will park and watch people in luxury market destinations, dropping off gift bags, purses, briefcases, etc.

·         Valet Dangers

o   If you valet your vehicle, you are giving a stranger one of your valuable assets, and your keys that may have your home key(s), Office key(s), and all phone and addresses in your vehicle’s memory/system. If you have ‘Valet Mode’ to lock up your belongings, -utilize it.

·         Brazen Theft

o   Most vehicle thefts happen in the darkness of night, but in many cases, career criminals break into and stealing vehicles in the middle of the day, and sometimes in heavily populated areas.

o   True claims

We have seen claims where thieves try to blend in by wearing easy to custom design uniforms or apparel that lower the witness to the theft: a contractor wearing a 24 Hour Locksmith jacket and signage on his vehicle / Emergency Roadside signage / Dealership Logo ‘Service Dept’ / Valet company, taking your keys in a different area of the parking lot - rummages through vehicle and/or steals it outright.

o   Dangerous Encounters

Coming up to your vehicle during a break in --- walk away, call 911, do not approach the vehicle. Do not confront the thief. Do not get in a physical confrontation with the thief.

Thefts can sometimes be 2-3 people – a driver, a lookout, and someone that is there if the situation gets complicated (that may be armed).

o   Consider the Scam

Panhandlers à Approach your vehicle, distracting you, someone may approach the vehicle from the other side, and forcibly remove you from your vehicle, or grab something as routine as a phone or handbag.

School Fundraisers à Teens and young adults approach you in the parking lot, that they are selling tickets, candy, etc. for their school or for a specialty club. In many cases, the scammer or assailant(s) are brazen and will follow you to your vehicle.

o   Out of Gas / Down on their Luck

Filling up your vehicle, and someone approaches pointing to a vehicle by a gas pump, claiming to not be able to pay for their gas. If you pull out your wallet, that could be a theft, or a car jacking and demand to be driven to an ATM while the other car follows.

o   Exploiting Children / Elderly / Dogs

Career criminals, gangs, and drug-circles often utilize underage children to bait or commit partial crimes because in the event of arrest, they will not be tried in court as “adults”. 

In growing cases, seemingly elderly people can pretend to be confused or overwhelmed, and then when the opportunity is there to overpower or gain possession of the vehicle, then can.

In one case, there was a small dog on a leash let out in a parking lot – a shopper stopped and was looking for an owner --- the criminal approached as the dog’s owner, and demanded the purse, rings, and took their dog with them, at gun point.

RECOMMENDATION

In your phone, have a password protected primary file for emergency service numbers and subscriptions for your auto-centric features.

·         Dealership and all key contacts (sales, finance, servicing)

·         Online subscriptions like Tollway Tags, Satellite Radio, Phone Servicing, Navigation, etc.

Top states for Vehicle Theft (2024):

CALIFORNIA 99,769

TEXAS 55,365

FLORIDA 22,393

WASHINGTON 21,182

ILLINOIS 20,820

Top 10 Stolen Vehicles (Nationwide 2023):

Chevrolet Sierra 49,903

Ford F-150 48,175

GMC Sierra 27,113

Hyundai Elantra 27,089

Hyundai Sonata 19,602

One more thing, someone that steals your NEW car, may be on the watch out for you to later replace that vehicle, and try to steal the replacement, too. Theft is a crime of repetition in most cases, so consider window etching, 3rd party auto disablement, higher end audible alarms, in-park video feeds and cameras, air pods or GPS tags, and security locking devices to make theft more complicated.  Know this, if someone is willing to take the risk of stealing your vehicle, personal contents, or wallet, they likely have nothing to lose, and no consideration for your family’s safety. Being prepared in this situation is the best offense.

-We can help.

Jason M. Pond, CAPI, CPRIA – Shareholder / Personal Risk Management

972-715-8703 W / 972-342-8645 C / jason.pond@swinglecollins.com / SWINGLECOLLINS.COM

Experts in insurance solutions for successful individuals, families and businesses.