According to a new report by the National Insurance Crime Bureau, drivers of mid-sized sporty vehicles like the Ford Mustang, Chevrolet Camaro and Dodge Challenger may need more insurance, regardless of how safely they drive.
The Bureau recorded nearly 4,000 thefts of sporty vehicles from 2009 to 2012. Of these stolen vehicles, 87 percent were mid-sized models.
The top-three most stolen mid-sized sport vehicles were all domestic models. Chevy Camaro holds the dubious distinction as the most-stolen mid-sized sporty model during the period, with 1,509 reports. There were 980 reports of stolen Mustangs and 782 reports of stolen Challengers.
A number of imports also made the list. During the three-year period reviewed by the Bureau, there were 103 Porsche Panameras and 101 Audi A5/S5s stolen.
A state-by-state analysis shows that sporty models are particularly attractive to car thieves in California. The Golden State accounted for the lion’s share of mid-sized sporty model thefts with 746 reported incidents between 2009 and 2012. Florida, Georgia, Michigan and Texas all had reports of over 100 sporty vehicle thefts during the period.
Of the nearly 4,000 reported mid-sized sporty autos stolen during the three-year period , 14 percent have not been recovered.
National Insurance Crime Bureau spokesman Frank Scafidi has a warning to owners of these types of vehicles. “Knowing that these newer muscle cars are attractive theft targets might help agents and brokers make a more informed decision within their respective business environments,” he says.
In particular, it’s important for owners to carry comprehensive insurance policies to cover the cost if their vehicles are stolen and not recovered. Collision and liability policies do not provide this coverage. Scafidi says comprehensive coverage may require an additional deductible, but they often run less than $500.
Another, lesser-known type of coverage, called usage-based insurance (UBI) could be a good option for people who choose to drive these theft-prone cars, since it requires that a satellite tracking telematics device be installed in the vehicle. The NICB also advises owners to install other devices, including smart keys, kill switches and GPS devices to help thwart would-be thieves.