Older cars more likely to be stolen, study finds

Mozo

Tuesday 20 July 2010

Older cars are more likely to be stolen than newer models with more advanced security features, new research shows.

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A study by insurer RACV found that cars insured for less than $8,000 accounted for 60 per cent of car theft claims lodged with the company in the past year.

The finding could affect the decision of motorists looking to compare car insurance in search of the lowest premiums. RACV Insurance general manager Paul Northey noted that cars that are more than nine years old are the most popular among thieves.

"Our data shows that 68 per cent of car theft claims made by our members are in relation to older vehicles, while vehicles less than three years old account for less than seven per cent of claims," he said.

Mr Northey suggested that increasing the security level of older cars can be as simple as fitting an engine immobiliser.

He observed that immobilisers can be fitted for as little as $200 and can be an effective deterrent to joyriders.

Meanwhile, Autocar reported recently that a new "black box for cars" currently being developed by Intel could cut down on car insurance premiums by recording a vehicle’s movements prior to a crash.

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