Sorry if there’s a thread for this somewhere, not aware of one. Any P&C folks who can tell us how big of a deal this is from a corporate perspective? Are these cars 2x more likely to be stolen than average, or is it more like a 20x risk? Is this a big enough deal to be a ‘thing’ for some/many/most carriers?
Somewhere btw 2 ans 20x is my guess. But always then recovered totally trashed. Bc the theifs arent chopping the car but joyriding.
How big a deal depends on marketshare for those cars. But not ideal for those car owners, esp if they have a loan still that requires comprehensive coverage
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I’m guessing premiums for these cars have skyrocketed.
Years ago, I was contemplating buying either a Civic Si or an Acura RSX-S. I called my insurance agent and they told me the Acura would cost double to insure. I asked why and she didn’t know, she called me back later and told me the RSX was a very frequent target for theft, don’t know why. Got the Civic.
Related. In Ontario, it’s apparently law that you have to give a quote and provide coverage to everyone who asks. But for brokers, if you have really crappy claims, it impacts your relationship with the insurer. Don’t know why this is, if the insurers are charging enough money for high risk people, what does it matter? Anyway…brokers don’t like to have high risk people in their block. But, you can’t deny, so now what?
I spoke to a broker some years ago and he said when people call in, if they’re high risk, they just don’t give them a quote on the phone. We’ll mail it to you once it’s prepared…and then they never mail it.
Shifty, but I think it’s done a lot.
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