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Falling crime rate could benefit auto insurance prices

Posted On Mon, December 21, 2009

Auto insurance customers got some potentially good news this week in the form of FBI statistics showing that vehicle theft rates have continued to fall in recent months.

In its report on crime for the first six months of 2009, the FBI noted that vehicle theft had fallen by an 18.7 percent margin, which bodes well for auto insurance prices by resulting in fewer claims.

Auto theft rates have actually been falling for much of the decade because of improved vehicle technology that makes it harder to thieves to get away with stealing cars. That's why models from the 1990s are still among the more popular among vehicle thieves.

Theft rates have also tended to remain higher in cities located close to the U.S. border because improved law enforcement results mean that thieves often find it more desirable to move stolen vehicles outside of the country.

Meanwhile, other road statistics, such as drunken driving fatalities, have also been falling in recent years, which provides even more reason to believe that consumers will continue to enjoy access to reasonably priced auto insurance policies.

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