By Oklahoma Insurance Commissioner Glen Mulready
National Vehicle Theft Prevention Month is in July. In 2024, almost 851,000 vehicles were stolen in the United States, according to the National Insurance Crime Bureau (NICB). That’s averaging a theft every 37 seconds! The NICB also reported that the Hyundai Elantra, Hyundai Sonata, and Chevrolet Silverado 1500 were the most stolen vehicles nationwide. Vehicle theft is a distressing experience, but there are some steps you can take to minimize your risk and protect yourself.
First, review your auto insurance coverage and know precisely what it covers. Not all coverage types include theft. Collision coverage covers damages caused when you’re in an accident with another vehicle or object. Comprehensive coverage includes other kinds of physical damage like theft, vandalism and hail. If you finance or lease a vehicle, your lender will likely require you to have both. When you own your vehicle, it’s your discretion to carry Comprehensive coverage. Talk to your insurance agent to decide if you should purchase Comprehensive coverage based on your vehicle’s value, age, condition and where you drive and park it.
Next, let’s look at some tips to prevent theft. The National Highway Traffic Safety Administration (NHTSA) urges vehicle owners to:
- Park in well-lit areas.
- Close and lock all windows and doors when parked.
- Hide or remove valuables.
- Do not leave keys in the vehicle.
- Do not leave the area while the vehicle is running.
- Consider purchasing extra layers of protection for a vehicle if the vehicle’s manufacturer does not provide an anti-theft system. These can easily be purchased online or in a store.
Lastly, what should you do if your vehicle is stolen? The most important thing is to remain calm and alert the authorities immediately. Call the police and file a report, providing as much information as possible, such as the make, model, color, license plate number and Vehicle Identification Number (VIN). Next, you will want to contact your insurer within 24 hours, as well as your lender, with your report to let them know about the theft. Finally, if you left any credit or debit cards in the vehicle, contact your financial institutions to cancel them. Also, consider freezing your credit or placing fraud alerts to prevent thieves from using your personal information to borrow money or open accounts in your name. If you find your vehicle before the police do, notify them and your insurer at once.
Vehicle theft happens daily, but you don’t have to be unprepared! By reviewing your insurance coverage and taking practical steps, you can avoid the headache of a stolen vehicle. If it does happen, know what you need to do and whom you need to contact. To find helpful information about auto insurance, visit oid.ok.gov/auto or call the Oklahoma Insurance Department at 800-522-0071.
