The popularity of big pickup trucks is steadily increasing among consumer, and so does with car thieves.
Trucks of full-size are getting the highest insurance claim in terms of frequency compared to other types of vehicles. According to the Highway Loss Data Institute (HLDI), the data they acquired from 2010 to 2012 speaks for itself.
Car thieves are now favoring the four-wheel drive Ford F-250 Super Duty crew-cab. This Ford model is made for heavy-duty use, and is more often preferred by folks who have small business which require hauling materials or towing. Other truck fanatics would prefer standard pickups.
According to the HLDI data, the annual average for frequency claim for vehicles using their own standard formula is around 1.2 claims for every 1,000 insured vehicle years. The claim frequency for the F-250 is seven. The same formula is used to report the number of vehicles a certain model has on the road, versus other vehicles. Every insured vehicle is equivalent to one vehicle insured for a year, six months for each of two vehicles, and other combinations of the same similarity.
In spite of Fords F-250’s notorious title, another company, General Motors, has taken eight spots out of ten for their full-sized SUVs and trucks for having the highest frequency of claims.
The information from HDLI though does not make distinctions whether the theft was targeting the entire vehicle, or only parts of the vehicle, such as navigation systems and cell phones left inside the truck. There are reported cases that only parts of the truck were stolen and are re-sold since they are compatible with other models.
On an average, an insurance company pays $7,060 for an F-250 claim.
The F-250’s increase in popularity has ended the 10-year stint of Cadillac Escalade as the thieves’ favorite. HLDI considers the Escalades more sophisticated anti-theft system as one of the reason, and also due to the vehicle’s decrease in sales.
