HLDI: Escalade Sees Highest Rate of Vehicle Theft Claims

Owners of Cadillac Escalades are much more likely to file an insurance claim for vehicle theft than owners of other vehicles, according to the Highway Loss Data Institute (HLDI).

The HLDI announced Thursday that theft claims for Escalades are filed at a rate that is nearly 5.5 times higher than for the average vehicle. The average claim payment for the Escalade was $10,555, which is about 56 percent higher than average.

Auto insurance theft claims dataComing in with the lowest claims rate was the Audi A6. The A6 had a claims rate that was about 70 percent lower than the average and 95 percent lower than that of Cadillacs.

The report’s results contradict a recent report from the National Insurance Crime Bureau (NICB) that pegged the 1994 Honda Accord as the most stolen vehicle in America last year.

The two studies’ conclusions differ because they are looking at different types of data: The NICB compiles its list based on police reports for stolen vehicles, while the HLDI looks only at theft-related claims data provided by member car insurance companies. HLDI member companies represent about 80 percent of the privately insured vehicle market.

Because of the HLDI’s methods, higher-end vehicles may be over-represented in the rankings, since they are more likely to have comprehensive coverage that helps protects policyholders from theft-related losses.

While the vehicle with the highest claims frequency was an SUV, pickups accounted for five of the top 10.

The HLDI says pickups regularly end up on the list but that their theft rates have been declining in recent years due to the growing presence of ignition immobilizers in this type of vehicle.

One reason so many pickups made it into the ranking, though, may be that the HLDI does not distinguish between comprehensive insurance claims that are related to theft of the vehicle and those that are related to theft of property from the vehicle.

The HLDI is a subsidiary of the Insurance Institute for Highway Safety.

About Matthew Morisset
Matthew Morisset is a proud alumnus of the University of Redlands, where he obtained a degree in English Literature. Utilizing his passion for analysis and writing, Matthew looks for important trends in the auto insurance industry and their implications for consumers and the market as a whole.

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