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Thursday, 23 October 2014 00:00

Don't Expect to Get Your Luxury Vehicle Back if Stolen in FL

Out of the 50 states, luxury cars stolen in Florida are the least likely to get returned, according to Laura Davison, propertycasualty360.com.

More than 25 percent of luxury cars taken from the beginning of 2010 through 2013 were never returned to their Floridian owners, the National Insurance Crime Bureau said in a report on October 23. Cars that go unrecovered are frequently dismantled and sold for parts in the U.S. or abroad. Nationwide, about 17 percent of stolen luxury vehicles in the period were never found, according to the data.

According to the NICB, luxury cars comprise a small percentage of all the cars stolen. There were 5,570 luxury vehicles reported stolen in the U.S. from 2010 to 2013. Only vehicle models from 2011 to 2013 were included in the NICB report.

However, the number of vehicles stolen annually has declined 50 percent from the mid-1990s. As of last year, 700,000 vehicles were stolen nationwide, according to Frank Scafidi, an NICB spokesman.

California had the most luxury vehicle thefts in the three- year period with with 1,390, about 25 percent of the total, followed by Florida with 863 and New Jersey with 570, the report shows. New York was fourth with 462 thefts.

Nationwide, compact luxury cars were stolen more frequently than mid-sized or premium vehicles and have the highest rate of recovery, according to Davison.

The NICB is a nonprofit organization that works to prevent insurance fraud. Its report is based on data provided by the National Crime Information Center.

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