NMVTRC reports increase in heavy motor vehicle thefts

The National Motor Vehicle Theft Reduction Council (NMVTRC) has published a report titled "The Cost of Heavy Vehicle Theft in Australia", which contains some facts and figures that might interest business owners.

Though heavy motor vehicle thefts (that is, thefts of vehicles with a total mass of over 3.5 tonnes, excluding buses) only account for three per cent of all vehicle thefts in Australia, their significant value means losing one could be catastrophic for business owners.

While the number of vehicle thefts in Australia has dropped by almost half (44 per cent) in the past decade, the amount of heavy motor vehicle thefts has actually increased by around a quarter (26 per cent) during that same period.

According to the NMVTRC, the total cost of heavy motor vehicle thefts in 2012-13 was almost $50 million.

This just demonstrates how important it is for business owners to arrange business vehicle insurance and make sure these valuable assets are sufficiently protected.

Interestingly, this increase in heavy motor vehicle thefts has not been witnessed across the entire country. In fact, the number reported in New South Wales between 2002-03 and 2012-13 dropped by 25 per cent.

Western Australia also experienced a relatively low level of heavy vehicle thefts at this time, which the report claims is "notable" given the amount of construction and mining companies operating in the state.

In Queensland, however, the amount of heavy motor vehicle thefts rose by a shocking 149 per cent during this ten-year period. South Australia, too, saw an increase of 69 per cent.

If you're living and working in either of these states, you may want to get in touch with your local Elders Insurance agent. We'd be happy to discuss your commercial car insurance options with you!