Owners of newer and late-model high-end vehicles are being advised to be extra vigilant by Old Mutual Insure, which reports an increase in claims for the theft and hijacking of these vehicles.
“From our investigations, it appears that syndicates have found ways to seamlessly access vehicles with keyless entry systems,” says Tarina Vlok, MD of Elite Risk, a high-net-worth insurer and subsidiary of Old Mutual Insure.
"The theft rate is particularly high in Gauteng, KwaZulu-Natal, and some of our smaller inland provinces. Although it seems like traditional tracking devices are becoming less effective, they still assist in mitigating the risk as they do provide an advantage in the early stages of theft and hijacking,” she said.
In an effort to curb the increased risk, Old Mutual Insure and Elite Risk Acceptances require the fitment of approved early warning/active tracking devices on higher-risk vehicles.
Vehicle owners have been given an April 15 2023 deadline to fit a good-quality tracking device or they will no longer be insured against theft and hijacking. This does not apply to vehicles in the Western Cape, Eastern Cape, Northern Cape, Botswana or Namibia.
“We are living in unprecedented times where vehicle syndicates have learnt how to use sophisticated means of technology to access a vehicle,” says Vlok.
Old Mutual Insure and Elite Risk will discount vehicle premiums (if not already discounted) due to the reduced risk. She says that the company is trying to make the process as easy and seamless as possible for policyholders.
“We have partnered with several tracking companies to help clients with high-risk vehicles access tracking and stolen vehicle recovery service,” says Vlok.
It remains the customer’s decision as to which tracking device they wish to fit from an approved list by the insurer, she says.
Vlok lists these additional measures to help secure vehicles against theft:
- Park your vehicle in well-lit, busy areas. Avoid leaving your car in isolated areas or places with poor visibility.
- Install an alarm system or immobiliser, which can deter thieves and prevent them from starting the engine.
- Use a steering wheel lock, which can make it more difficult for thieves to drive away with your vehicle.
- Consider using a faraday bag for relay/hacking attacks as this blocks the key signal that certain syndicates use to jam vehicle remotes.
- Fit more than one tracking device into the vehicle to make it more difficult to steal and easier to recover.
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