Press Release

May 9, 2006

Insurance Consumers Paying the Bills for Las Vegas Auto Thefts

LAS VEGAS – Consumers pay hundreds of dollars every year in auto insurance premiums just to pay for auto theft and fraud, according to the Nevada Insurance Council.

“Auto theft takes many forms,” said Bob Compan, a member of the Nevada Insurance Council. “Some cars are stolen by professional thieves, dismantled at ‘chop shops’ and sold for parts. Others are shipped oversees or smuggled into Mexico. Some are torched in the desert to collect insurance money and get out from under high payments. The end result is somewhere between $200 and $400 a year in additional premiums paid by the average consumer.”

Las Vegas ranks second in the nation in terms of motor vehicle thefts per capita, according to a report released today by the National Insurance Crime Bureau. In 2005, there were 22,465 motor vehicle thefts in Las Vegas.

When divided by population, Las Vegas ranked second only to Modesto, California. Las Vegas had 1,361 motor vehicle thefts per 100,000 population in 2005, compared to 1,419 in Modesto and 1,167 in Stockton, CA, the third-ranked city. Reno-Sparks ranked 43rd in the survey, while Carson City ranked 215th.

Las Vegas ranked third in 2004, fourth in 2003, fifth in 2002, 11th in 2001 and 14th in 2000.

“If this trend continues, Las Vegas is in line to become the ‘Auto Theft Capital of the United States’ next year,” Compan said.

Consumers are advised to use common sense to avoid becoming a victim of auto theft:

• Don’t leave your keys in the car;
• Lock doors and windows;
• Park in well-lighted areas;
• Install and use anti-theft technology such as alarms, immobilizing devices such as smart keys and kill switches or tracking devices such as Lojack.
• Make sure you’re covered. Auto theft is covered under the comprehensive section of the auto insurance policy, which is not required by the state of Nevada. Call your agent to make sure you are covered and ask for discounts for which you may be eligible.

Certain cars are more popular with thieves than others. Those that top the list are easily chopped and sold for parts, which can be worth two to three times the price of a new vehicle. According to the National Insurance Crime Bureau, the top ten cars stolen in Nevada in 2004 were:

1. 1990 Honda Accord
2. 1991 Toyota Camry
3. 1995 Honda Civic
4. 1994 Saturn SL
5. 1994 Nissan Sentra
6. 2004 Dodge Ram Pickup
7. 1992 Chevrolet Full Size C/K 1500 Pickup
8. 2002 Dodge Intrepid
9. 1993 Jeep Cherokee/Grand Cherokee
10. 1995 Dodge Neon

CONTACT: Jim Denton
702-437-9007

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