Pick-Ups Picked by Thieves Most: Top 10 Vehicles Targeted

Based on rates of insurance claims for theft, the Ford F-250 unseated the Cadillac Escalade as the favorite target for thieves, according to the Highway Loss Data Institute.

"General Motors has put a lot of effort into new antitheft technology, so that may help explain the decline in the Escalade's theft rate," says HLDI Vice President Matt Moore. "On the other hand, sales of the Escalade have fallen in recent years, so there may be less of a market for stolen Escalades or Escalade parts."

Apparently thieves dig pick-ups, which occupy 4 of the top 5 spots and 6 of the top 10 on HLDI's list. Why? The HLDI says many pick-up claims involve the theft of equipment from the truck bed.

(Claim frequencies are per 1,000 insured vehicle years. An insured vehicle year is one vehicle insured for one year, two for six months, etc.)

Click on the "Next" button at the bottom right to find out HLDI's latest list of vehicle with the highest theft rate from 2010-2012.

10. Chevrolet Tahoe

With a starting asking price of $41,400, the large SUV is involed in 4.4 claims per 1,000 vehicle years.

HDLI finds the average loss payment per claim on a stolen Tahoe is $5,367.

9. GMC Yukon

Another large SUV that retails higher than some average U.S. salaries is the GMC Yukon. Its starting price is $41,760 and it has been the ninth most coveted vehicle for car thieves during the past two years.

Claims frequency: 4.5 per 1,000

Average loss payment per claim: $6,276

8. GMC Sierra 1500 extended cab

The starting asking price drops significantly with the eighth spot on HDLI’s most stolen list. It also marks the introduction of large pickups as hot commodities with the criminal element. The GMC Sierra 1500 extended-cab model normally retails for $28,610.

Claims frequency: 4.7 per 1,000

Average loss payment per claim: $5,908

7. Chevrolet Suburban 1500

The MSRP for the "very large SUV" is $45,360.

Claims frequency: 5.4 per 1,000

Average loss payment per claim: $4,468 

6. Cadillac Escalade 4WD

Once a regular occupier of the No. 1 spot on this list, the HLDI theorizes GM's antitheft technology may explain why the Escalade falls to No. 6.

The large luxury SUV carries the highest MSRP of the bunch. On average, it will set drivers back $67,290 at the dealership.

Claims frequency: 5.5 per 1,000

Average loss payment per claim: $6,508 

5. Ford F-350 crew 4WD

A very large pickup truck, the Ford F-350 crew with 4WD sells for about $37,370. During the past two years, insurers have paid out more per claim (on average) for it than any other model of vehicle in the Top 10.

Claims frequency: 5.6 per 1,000

Average loss payment per claim: $7,517  

4. GMC Sierra 1500 crew

Another large pickup likely to be "gone in 60 seconds" is the GMC Sierra 1500 crew, which typically retails for $35,885.

Claims frequency: 6.0 per 1,000

Average loss payment per claim: $6,366

3. Chevrolet Avalanche 1500


Claims frequency: 6.1 per 1,000

Average loss payment per claim: $6,163

2. Chevrolet Silverado 1500 crew

The Silverado is the last of four Chevys on the highest claim-rates list, but it actually has one of the lowest average payments per claim.

Claims frequency: 6.7 per 1,000

Average loss payment per claim: $5,463

1. Ford F-250 crew 4WD

HLDI says theft rates are generally declining due in large part to ignition immobilizers. But that doesn't explain why the Ford F-250, which has had a standard immobilizer, is tops on this list.

Claims frequency: 7.0 per 1,000

Average loss payment per claim: $7,060

Page 1 of 11

Resource Center

View All »

Complimentary Case Study: Helping achieve your financial goals By:...

Find out how a Special Investigation Union used TLOxp to save the company money and...

Do Your Clients Hold The Right CDL License?

Learn about the various classes of CDL Licenses and the industries that are impacted by...

Integrated Content & Communications: A Key Business Issue For Insurers

Insurers are renewing their focus on top line growth, and many are learning that growth...

High Risk Insurance Coverage in the E&S Market

Experts discuss market conditions, trends and projected growth in a rapidly changing niche.

Top E-Signature Security Requirements

This white paper covers the most important security features to look for when evaluating e-signatures...

EPLI Programs Crafted Just For Your Clients

Bring us your restaurant clients, associations and other groups and we’ll help you win more...

Is It Time To Step Up And Own An Agency?

Download this eBook for insight on how to determine if owning an agency is right...

Claims - The Good The Bad And The Ugly

Fraudulent claims cost the industry and the public thousands of dollars in losses. This article...

Leveraging BI for Improved Claims Performance and Results

If claims organizations do not avail themselves of the latest business intelligence (BI) tools, they...

Top 10 Legal Requirements for E-Signatures in Insurance

Want to make sure you’ve covered all your bases when adopting e-signatures? Learn how to...

Claims Connection eNewsletter

Breaking news on disasters, fraud, legal trends, technology, and CE initiatives for the P&C claim professional – FREE. Sign Up Now!

Claims-Handling Guidelines

Claims Magazine is providing the following free guidelines and regulations in order to help adjusting professionals stay abreast of each state’s unique property and casualty claim-handling requirements.

View our State Guidelines »

Advertisement. Closing in 15 seconds.