Although much has been made about the rise of personal vehicle thefts, the Toronto Police Service has observed that commercial car theft has gone up as well in recent times.
Why have thieves started targeting commercial vehicles? And what can you do to protect your company vehicle?
If your business has a commercial fleet or a company car, this article is for you.
Why Does Commercial Auto Theft Seem to Be On the Rise?
By our count, there are three potential reasons for the uptick in commercial auto theft:
1. The Impact of the Pandemic on Commercial Vehicle Use
During the COVID-19 lockdowns, many companies that would have needed six cars to function only needed three to be operational. Many cars were left on lots and were more vulnerable to theft as a result.
2. The Relative Higher Value of Commercial Vehicles
Commercial vehicles often have catalytic converters. Because these converters are made with rhodium, platinum, and palladium, car thieves can cash in on three rare metals in one go. On top of the parts, work vans and trucks also often have industrial-grade tools that can be sold for significant amounts of money.
By our count, there are three potential reasons for the uptick in commercial auto theft:
3. Increased Unemployment
With more people facing unemployment, there are more people out there with enough time on their hands to start stealing vehicles and parts.
3 Tips That Could Help You Avoid Becoming a Victim of Commercial Auto Theft
We’ve talked about the reasons why commercial auto theft seems to be on the rise, but none of that explains how you can protect your vehicles. Here are our top three tips for business owners that have commercial cars.
Protect Your Company Vehicles With Oracle RMS
Tip #1: Park in Well-Lit Areas
Even when you’re dealing with personal vehicles, car thieves don’t want to be interrupted or caught on camera while breaking into your car. Busy areas with lots of light can be an effective deterrent to would-be thieves.
Tip #2: Review Your Insurance Policy
Ironically, this is advice that applies equally as well to standard auto insurance as it does to commercial auto insurance. If you haven’t renewed your policy in a while, you may want to speak with an insurance broker to make sure that you have adequate coverage.
Tip #3: Don’t Leave Cars Idling
Car theft is often a crime of opportunity. As such, it may be worth your while to have protocols in place that encourage staff members to be extra careful while leaving the company vehicles unattended.
Contact Oracle RMS for a free commercial insurance quote today! If you’d like to insure your personal vehicle, we offer auto insurance quotes as well.
