New data from the Insurance Council of Australia (ICA) reveals a worrying increase in car theft claims across the country, with Queensland and Victoria emerging as the two states hardest hit by the surge.
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Claims Nearly Double Since 2015
According to the ICA, the total value of motor vehicle theft claims has nearly doubled over the past decade. In 2015, claims were valued at $218 million (adjusted for inflation), rising to $428 million in 2024. That marks a 96% jump in real terms.
The number of claims has also increased significantly, from 22,000 in 2015 to 28,000 in 2024, representing a 27% rise. Most of this spike is concentrated in Queensland and Victoria.
Queensland Leads in Claim Growth
In Queensland, theft claims grew by a staggering 101% over the period, with the total value of those claims surging 214% from $36 million to $113 million. Over the same period, the number of motor vehicle insurance policies in the state increased by 32%.
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Victoria Not Far Behind
Victoria followed closely behind with a 70% rise in the number of theft claims and a 188% increase in claim value, growing from $60 million to $173 million. The number of insured vehicles rose 28% in the same timeframe. Metropolitan Victoria now reports the highest car theft claim costs in the country, totalling $140 million in 2024 alone.
Hotspots and Trends
The highest increases in claim frequency were seen in:
- Rural and regional Queensland: 62%
- Metro Queensland: 39%
- Metro Victoria: 34%
In contrast, Western Australia recorded a decline in car theft frequency, while NSW and South Australia experienced little to no change.
Industry Responds to Theft Spike
ICA deputy CEO Kylie Macfarlane warned that the uptick in theft is likely to place additional pressure on insurance premiums.
"Motor vehicle theft, while currently a small part of insurance premiums, is a growing concern," Macfarlane said. "This new data analysis shows alarming rates of motor vehicle theft claims in some parts of the country, which will ultimately cost us all."
She also pointed out that higher vehicle values, rising repair costs, and parts shortages are compounding the issue.
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Road Safety Still a Concern
Alongside the theft statistics, road fatalities in Australia rose for the fourth year in a row in 2024 — the first sustained rise since the 1960s.
South Australia
SA recorded 91 road deaths and 845 serious injuries in 2024, down from 117 deaths and 875 serious injuries the year prior. However, it still missed its safety targets outlined in the state’s Road Safety Strategy and Action Plan.
Queensland
Queensland fared worse, registering 302 fatalities in 2024 — the state's highest death toll since 2009. According to the Royal Automobile Club of Queensland (RACQ), poor driver behaviour remains the leading cause, including speeding, drink driving, and drug driving.
The Bigger Picture
The dual rise in car theft and road fatalities highlights a concerning trend in Australian road safety. As insurance claim costs continue to climb, experts say a combination of tougher enforcement, education, and infrastructure investment is urgently needed.
Macfarlane concluded:
"While theft alone doesn't drive premiums, its rising cost is part of a broader challenge in keeping insurance accessible and affordable for Australians."
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Dylan Anderson
Dylan Anderson
