Luxury Vehicle Theft in the United States

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Oct 23, 2014, 06:00 ET

DES PLAINES, Ill., Oct. 23, 2014 /PRNewswire-USNewswire/ -- The National Insurance Crime Bureau (NICB) today released its latest report on luxury vehicle thefts. NICB analysts review data contained in the National Crime Information Center's stolen vehicle file and identify thefts of luxury vehicles as defined in the 2013 market classifications published by Automotive News.

The report focuses only on thefts of 2011, 2012 and 2013 model year vehicles stolen in the United States between 01/01/2010 and 12/31/2013. During this period, there were 5,570 luxury vehicles reported stolen to law enforcement.

Luxury vehicles are further broken down into three categories: Compact, Mid-Sized and Premium. The thefts within those categories were: Compact (2,625), Mid-Sized (2,245) Premium (700).

The top five states for luxury vehicle thefts were: California (1,390), Florida (863), New Jersey (570), New York (462) and Texas (338). The New York-Newark-Jersey City, NY-NJ-PA Core Based Statistical Area (CBSA) reported the most luxury vehicle thefts with 957. Next was the Los Angeles-Long Beach-Anaheim, CA CBSA with 609. The Miami-Fort Lauderdale-West Palm Beach, FL CBSA rounds out the top three with 582 thefts.

Of the 5,570 luxury vehicle thefts in this report, 963, or 17 percent, remain unrecovered as of Dec. 31, 2013. Both Compact and Mid-Sized Luxury vehicles—with considerably more thefts—had relatively low unrecovered rates at 15 and 16 percent respectively. In contrast, Premium Luxury vehicles had a much higher unrecovered rate (29 percent) which is indicative of their value in the illicit vehicle market at home and abroad.

The complete report can be downloaded here.

Anyone with information concerning insurance fraud or vehicle theft can report it anonymously by calling toll-free 800-TEL-NICB (800-835-6422), texting keyword "fraud" to TIP411 (847411) or submitting a form on our website. Or, download the NICB Fraud Tips app on your iPhone or Android device.

About the National Insurance Crime Bureau: Headquartered in Des Plaines, Ill., the NICB is the nation's leading not-for-profit organization exclusively dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through data analytics, investigations, training, legislative advocacy and public awareness. The NICB is supported by more than 1,100 property and casualty insurance companies and self-insured organizations. NICB member companies wrote $371 billion in insurance premiums in 2013, or more than 78 percent of the nation's property/casualty insurance. That includes more than 93 percent ($168 billion) of the nation's personal auto insurance. To learn more, visit www.nicb.org.

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SOURCE National Insurance Crime Bureau