Are Older Cars More Likely To Be Stolen?
The short answer is – yes. The long answer is – yes, but drivers’ demographics play a role, too.
Driver’s Age Is A Risk Factor
According to AAMI Insurance, the odds of your car being stolen go up significantly if you’re less than 25 years of age. Driver’s age is the biggest predictor of car theft – not the car’s age.
Drivers Under 25 Are Most At Risk
26% of AAMI’s theft claims were submitted by car owners under 25 years – even though they make up less than 10% of AAMI’s customers
Car Make And Model Are Also A Risk
Which 5 cars are most popular with drivers under 25? Mazda Axela, Toyota Corolla, Suzuki Swift, Mazda Demio and Subaru Legacy.
Young Drivers Drive Old Cars
There’s an inverse relationship between a car’s age and the driver’s age. The “P-plater driving a clapped-out Jap bomb” cliche is largely true – the average age of cars driven by under 25 year olds is 16 years.
Statistics Paint An Ugly Picture
The one-year average theft rate for under 25-year-olds is 2.9% – compared with 1.0% for those aged 25 and over.
Old Cars Are A Burrden On Your Insurer
According to RACV, cars insured for less than $6,000 account for more than 50% of theft claims. New vehicles (less than three years of age) accounted for only 4.5% of claims.