Liability Insurance Australia

Australia's leading Liability Insurance resource

Liability Insurance Australia :: News

SHARE

Share this news item!

Car Theft Claims Skyrocket, Raising Insurance Concerns

Car Theft Claims Skyrocket, Raising Insurance Concerns

Car Theft Claims Skyrocket, Raising Insurance Concerns?w=400

⚠️The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Insurance Council of Australia has unveiled substantial data revealing that the expense related to vehicle theft claims has almost doubled since 2015.

Last year, the industry handled $428 million in claims, signaling a stark increase from $218 million a decade ago.

The data comes from Insurance Statistics Australia, which has adjusted historic dollar values for inflation, highlighting an urgent trend in rising car crime claims.

Particularly striking is the 27% rise in claim numbers, growing from 22,000 to 28,000. Interestingly, this surge is primarily driven by regional areas in Australia, though metropolitan zones noted a slight decline. State-wise breakdown shows Queensland and Victoria witnessing the most significant rises in claims.

In Queensland, the total cost of vehicle theft claims soared to $113 million from $36 million in 2015, coinciding with a 32% rise in vehicle policies. Victoria reported 7,823 metro area thefts, costing $140 million, marking a notable escalation in both numbers and expenses.

Conversely, a decline in claim numbers was noted in Western Australia and New South Wales metropolitan areas, while South Australia saw a marginal increase. Overall, the number of vehicle policies escalated by 26%, reaching 12.1 million from 9.6 million in 2015.

Kylie Macfarlane, the deputy CEO of the ICA, pointed out the rising vehicle values and increasing costs of parts and labor as significant contributors to the upward pressure on premiums nationwide. She emphasized recognizing the frequency and cost of motor theft as documented by the industry, indicating widespread implications that could affect consumers broadly.

Insurance Statistics Australia, a voluntary body managing data for insurance stakeholders including the ICA, underscores the growing concern with its latest findings. This trend necessitates vigilance, given its potential impact on the insurance landscape and consumer costs.

Published:Monday, 24th Mar 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Rising Insurance Costs Amidst Climate Change: What Homeowners Need to Know

Rising Insurance Costs Amidst Climate Change: What Homeowners Need to Know

06 Dec 2025: Paige Estritori

Australian homeowners are experiencing significant increases in home insurance premiums, largely due to the escalating risks associated with climate change. Recent analyses reveal a national average premium hike of 14%, translating to an additional $343 annually for policyholders. This trend underscores the growing financial burden on homeowners as extreme weather events become more frequent and severe. - read more

Competitive Market Dynamics Drive Down Construction Insurance Costs

Competitive Market Dynamics Drive Down Construction Insurance Costs

06 Dec 2025: Paige Estritori

The Australian construction insurance market has entered a notably softer phase in 2025, characterized by a significant reduction in premiums across various lines. This shift is primarily attributed to increased competition among insurers, offering clients more options and driving down costs. - read more

Why Perth Hospitality Businesses Should Reassess Their Insurance Coverage

Why Perth Hospitality Businesses Should Reassess Their Insurance Coverage

06 Dec 2025: Paige Estritori

Perth's hospitality industry is currently navigating a challenging landscape marked by escalating operational costs and evolving risks. In response, industry experts are advocating for a thorough reassessment of insurance policies to ensure businesses are adequately protected. - read more

Fine Food Australia and R&CA Announce Strategic Partnership to Strengthen Hospitality Sector

Fine Food Australia and R&CA Announce Strategic Partnership to Strengthen Hospitality Sector

06 Dec 2025: Paige Estritori

In a significant move to support Australia's hospitality industry, Fine Food Australia has announced a partnership with the Restaurant & Catering Industry Association of Australia (R&CA). This collaboration aims to provide a unified platform for industry professionals to network, share insights, and advocate for the sector's interests. - read more

Rising Risks Lead to Soaring Insurance Premiums for Hospitality Venues

Rising Risks Lead to Soaring Insurance Premiums for Hospitality Venues

06 Dec 2025: Paige Estritori

Australian hospitality venues, particularly those offering live entertainment and serving alcohol, are experiencing a significant surge in insurance premiums. This trend is attributed to the heightened risks associated with alcohol consumption and entertainment activities, leading to increased incidents and claims. - read more

Click for more Insurance News

Business Insurance Articles

Understanding the Key Factors Influencing Your Liability Insurance Premiums

Understanding the Key Factors Influencing Your Liability Insurance Premiums

Liability insurance is a form of coverage that protects businesses against claims resulting from injuries and damage to people or property. It provides crucial peace of mind, ensuring that your business is shielded from potentially devastating financial losses due to lawsuits or claims against it. - read more

Why Every Business Needs Public Liability Insurance

Why Every Business Needs Public Liability Insurance

Welcome to our comprehensive guide on public liability insurance. If you run a business, you've probably heard this term thrown around quite often. But what exactly is public liability insurance? - read more

The Smart Business Approach: How to Effectively Compare Public Liability Insurance Rates

The Smart Business Approach: How to Effectively Compare Public Liability Insurance Rates

Running a business comes with inherent financial risks. Whether you own a small café or a large construction company, unforeseen incidents can lead to significant financial losses. - read more

How Public Liability Insurance Can Save Your Business During a Crisis

How Public Liability Insurance Can Save Your Business During a Crisis

Public liability insurance is designed to protect your business from financial loss if you are found liable for causing injury or property damage to a third party. This type of insurance covers legal costs and any compensation claims that might arise from accidents or incidents involving your business operations. - read more

Proven Strategies for Slashing Your Business Liability Insurance Costs

Proven Strategies for Slashing Your Business Liability Insurance Costs

Welcome to our comprehensive guide on public liability insurance, an essential safeguard for businesses across Australia. Navigating the complexities of liability insurance can be a daunting task for many business owners, but it’s a critical component of your business protection plan. If incidents such as accidents or property damage occur, liability insurance is the barrier that stands between your business and financial calamity. - read more

Start Here !

Knowledgebase

Insurance Underwriter:
An insurance company, a financial institution that sells insurance.

Quick Links: | Liability Insurance Australia | Public Liability Insurance | Professional Indemnity Insurance | Business Liability Cover | Small Business Liability Insurance | Liability Insurance For Trades | Liability Insurance Quote | Corporate Liability Insurance | Liability Insurance For Professionals | Best Liability Insurance Australia

| HOME | RATES | CALCULATORS | NEWS | ARTICLES | ABOUT | CONTACT | PRIVACY | BROKERS | AFFILIATES | SITEMAP |

This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised Financial Services Representative of Unique Group Broker Services Pty Ltd, Australian Financial Services License 509434. Visit the ASIC website for additional licensing information.

powered by Financial Services Online | Copyright Clark Family Pty Ltd A.C.N. 010 281 008 - all rights reserved

IMPORTANT: We are neither authorised nor licensed to provide finance or financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party intermediaries, insurers and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for vaidating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.