DVLA data analysed by Claims Management & Adjusting Ltd indicates that a vehicle is stolen every six minutes.1
This follows a year-on-year increase in vehicle thefts of 8% from 2021-22 and 2022-23.
And with vehicle thefts at an all time high in 2023, it’s becoming more common for motor insurance providers to require high-value vehicles to be fitted with an approved tracker, especially if the vehicle is kept in an area with a high rate of vehicle thefts. Many motor policies now require vehicles to be fitted with an active tracker.
Many of these trackers are installed with an annual subscription and in order for the insurance to remain valid, the subscription needs to be kept active and up-to-date. The subscription covers the cost of providing a 24/7/365 monitoring service, which would alert the vehicle owner if it were stolen.
Aviva has recently reported that they’ve had to decline claims for stolen vehicles where clients had let their tracker subscription expire and were therefore in breach of the policy terms.
Have you reviewed your spending over the last year or so, and perhaps cancelled subscriptions and direct debits without being fully aware of what they were paying for?
Do you know if your car insurance has a requirement for a vehicle tracker system to be active?
If you simply renew your insurance each year without discussing it with your insurance adviser, you may be missing key information that could have a significant impact in the event of a claim.
Check your insurance cover to make sure you have the cover you need or talk to our team to find out more.