New data highlights an increase in motor vehicle theft claims, particularly in Queensland and Victoria.
An analysis released by the Insurance Council of Australia (ICA) shows that the total value of motor vehicle theft claims has nearly doubled in real terms since 2015.
Adjusted for inflation, claims were valued at approximately $218 million (adjusted for inflation) in 2015. By 2024, this figure had surged to $428 million, marking a whopping 96% increase.
The frequency of theft claims has also grown, with total claims rising from 22,000 in 2015 to 28,000 in 2024, a 27% increase. Queensland and Victoria saw the most notable increases.
In Queensland, the number of theft claims rose by 101%, with the total claim value increasing from $36 million (adjusted for inflation) to $113 million, representing a 214% rise in real terms. During the same period, motor vehicle policy numbers in the state grew by 32%.
Victoria recorded a 70% increase in theft claims, with the total claim value rising from $60 million (inflation-adjusted) to $173 million – an increase of 188%. The number of motor vehicle policies in the state expanded by 28%.
Metropolitan Victoria now has the highest theft claim costs in Australia, totalling $140 million in 2024.
The frequency of theft claims – measured as a proportion of total insured vehicles – rose most sharply in Queensland and metro Victoria. Rural and regional Queensland saw a 62% increase, while metro Queensland and metro Victoria recorded 39% and 34% rises, respectively.
In contrast, Western Australia experienced a decline in theft claim frequency between 2015 and 2024. The rate remained steady in rural and regional New South Wales, while metro areas recorded a decrease. South Australia also saw little change across the state.
ICA deputy chief executive Kylie Macfarlane said rising theft rates contribute to broader insurance cost pressures.
“Motor vehicle theft, while currently a small part of insurance premiums, is a growing concern. The value of motor vehicles has increased significantly since 2015, as has the cost of parts and labour, putting upward pressure on premiums across the country,” she said.
She noted that while vehicle theft is a small factor in overall premiums, rising claim costs must be considered.
“This new data analysis shows alarming rates of motor vehicle theft claims in some parts of the country, which will ultimately cost us all,” Macfarlane said.
Alongside the rise in motor vehicle theft, Australia’s road toll increased for the fourth consecutive year in 2024, according to the Royal Automobile Association of South Australia (RAA). This marks the first sustained rise in national road fatalities since the 1960s.
Despite advances in vehicle safety technology, fatal and serious injury crashes continue to rise, prompting renewed calls for improved road safety measures.
South Australia recorded 91 road deaths and 845 serious injuries in 2024. While this is a reduction from 117 fatalities and 875 serious injuries in 2023, the figures remain above the targets set in the state’s Road Safety Strategy and Action Plan.
To stay on track for its 2031 goal, the state would have needed to reduce deaths to 80 and serious injuries to 638 in 2024. Instead, it recorded the second-highest number of serious injuries since 2011.
Queensland saw its highest road toll since 2009, with 302 fatalities recorded in 2024, according to the Royal Automobile Club of Queensland (RACQ). This marks the first time in 15 years that the state’s annual road toll has exceeded 300 deaths.
