Insurance companies issue surcharge for 'high theft' vehicles

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Vehicle thefts continue to explode and some insurance companies are looking at more direct ways to recoup their losses, issuing a surcharge for cars at greater risk of being stolen.

It's an epidemic across the country and it's costing insurance companies over a billion dollars a year with the bulk of that, several hundred million, right here in Ontario.The information you need to know, sent directly to you: Download the CTV News App

"I said, well, I really don't feel like paying this extra $400 a year or purchasing this tracker because of privacy concerns," said Austin Lonsdale. The Insurance Bureau of Canada says auto theft related claims in Ontario have increased 329 per cent between 2018 and 2022. "I'm really leaning on not getting another Honda CRV. It's too bad because this is my second one and I was planning on a third, but now I'm starting to think of maybe going towards another vehicle that's not on the high theft list."Ottawa becoming a rental city, CMHC report suggestsDonald Trump assails judge and his daughter after gag order in N.Y.

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