The NICB data shows that auto theft is down by 17% in 2024. Now, that is a welcome trend. But if you are expecting a dip in insurance premiums with this, then you should rethink. Despite the improvement in numbers, insurance costs are on the rise. The answer would be a complex web of economic, legal, and geographical factors that go beyond the theft statistics.
What Are the Current Car Theft Trends?
When we look at the 2024 car theft trends, there is a visible decline in the number of vehicles stolen from over 1,020,729 in 2023 to 850,758 in 2024. We see this on a positive note with some states like Washington, Nevada, and Oregon showing a decrease in the theft rates from –32% to –30%.
Though the states have predominantly seen a decrease in the car theft rates, some cars remain high targets of theft, or places that are targeted due to the population or the degree of urbanization. For instance, the District of Columbia and California are two of the five states that have the highest theft rates. The theft rates of these states stand at 842 and 463 cars per 100,000 people, according to data from the NICB, while the national average is 250.2 thefts per 100,000 people.
Car Theft Rate by State
Here are the top five states with the highest vehicle theft rates and the percent decrease in vehicle thefts between 2023 and 2024.
Car Theft Rates by Model
Hyundai and Kia models have been in the top charts when it comes to car thefts. There are reasons for it, even including a viral TikTok challenge! The Hyundai Elantra and Hyundai Sonata are the most stolen cars of 2024.
Data Source: NICB
Why Do Some Models Still Top the Theft Wish List?
The reasons for the increased theft rates among these models are vulnerabilities in security, demand for parts like catalytic converters, and even viral social media trends.
- Absence of electronic engine immobilizer
An electronic engine immobilizer is an anti-theft device that prevents the car from starting without the appropriate key fob. This is present in the current models of Hyundai Elantra, Sonata, and Kia Optima, but was absent in the older models, which had the traditional key ignition.
Social media fueled this fire by spreading information, presenting it as a challenge. Since the security feature was absent in these models, they became a target for increased theft.
- Popularity of the model and cost of the parts
Car parts are in high demand in the market, and popular models like the Accord have been stolen for this reason. While most models are stolen for the parts, some, like the Chevrolet Silverado, are stolen for specific parts like the catalytic converter. This is mainly because of the model’s higher ground clearance, making catalytic converters easily accessible.
Does Car Insurance Cover Theft?
If you have comprehensive car insurance coverage in your name, then your auto insurance will help you pay for the stolen car. This protection is not applicable if your car is covered only under liability coverage. Comprehensive coverage can be used to cover specific parts, paint, and rims. However, the items stolen from the car, or present in the car at the time of stealing, will not be covered under auto insurance but under a property insurance policy.
The Real Drivers Behind Car Insurance Rates
Several factors govern car insurance rates. However, theft rates are among the many factors that influence car insurance rates. In other words, if theft rates were the only influence, then car insurance rates would have certainly gone down this year. However, data from the U.S Bureau of Labor Statistics [1]shows that the cost of car repair and maintenance increased from $396 in January 2024 to $427 in June 2025. Here are the factors that affect the car insurance rates despite the falling theft rates.
Cost of Parts and Repair
Today’s cars make driving easier as they come with advanced features. However, this makes repair and parts procurement costlier. In addition, the labor costs for repair and the costlier parts result in higher car insurance costs.
Inflation
Apart from labor costs, inflation also plays a crucial role in the increase in auto insurance rates. Recent tariffs, materials, legal costs, and even the cost of settlements have raised the cost of car insurance premiums.
Malpractices in Litigation
The severity of the crash would be one thing, but there are organized malpractices in the insurance settlements. This system abuse is a major cause of rising car insurance premiums. According to the Insurance Information Institute (Triple-I)[2], attorneys get involved in claims, even minor ones, and the costs often increase significantly due to inflated legal fees and prolonged settlements. As a result, the car insurance premium rates are on the rise.
History of Theft
The drop in the theft rate is recent, and the financial fallout has caused the increased car insurance rates as a result of the increased claims rate. The window of the current drop is not sufficient to bring down the car insurance rates. Similarly, your location and the theft rate trends of your area will also regulate the auto insurance rates, which drastically change with ZIP codes.
Long-term Data
The trend may be low theft rates, decreased inflation, or tariffs; insurance companies will adjust insurance prices only with long-term, stable data.
Can You Actually Lower Your Car Insurance Premiums in 2025?
The viral TikTok challenge sent theft waves across the nation in 2022 and 2023, causing the insurers to halt coverage for these models. Even after the trend died down, the car insurance premiums for the Hyundai and Kia models remained on the higher end for a long while until the companies rolled out anti-theft updates [3]. On the same note, if there is steadier data on lower theft rates and the other factors that influence the car insurance rates, then you can witness the car insurance rates fall.
Anti-theft tech and safe driving discounts are real, but are minimal when we compare them with the larger picture of multiple factors influencing the rates. However, it is a wise choice to install the devices to ensure safety and claim the discounts offered by the provider. For instance, anti-theft devices like GPS tracking systems, car alarms, steering locks, and engine immobilizers will improve the safety of your car and reduce the insurance rates as well.
You might have shopped well, researched, and compared different companies to find your current insurance provider. However, with the shifting trends, you must reassess the local market and the risks involved. Consequently, consider online platforms to compare quotes.
To prevent theft, make sure you park in well-lit areas or secured parking lots, take keys with you after parking, and close all doors and windows. In addition, ensure to hide any valuables. Consequently, report it immediately after your vehicle is stolen.
Citations
1. BLS Data Viewer. (n.d.). https://data.bls.gov/dataViewer/view/timeseries/CUSR0000SETD;jsessionid=9D320F6EEF32FFAB9CB198EE7F3A4E2E
2.Legal system abuse adding to increasing auto insurance costs, creating a new asset class of investors betting on litigation | III. (n.d.). https://www.iii.org/press-release/legal-system-abuse-adding-to-increasing-auto-insurance-costs-creating-a-new-asset-class-of-investors-betting-on-litigation-022724
3.Hyundai introduces free Anti-Theft software upgrade, beginning with more than 1 million elantras, sonatas and venues – Hyundai Newsroom. (n.d.). https://www.hyundainews.com/en-us/releases/3768
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