A spike in vehicle thefts in Victoria is inevitably affecting insurance premiums.
Latest crime data shows total offences in the state topped 630,000 in 2025, with motor vehicle thefts rising sharply—up 27% over the past year and nearly 70% higher than 2019 levels. The result for insurers is straightforward: more claims, higher costs and pressure on margins.
Analysis reported in the AFR suggests motor premiums rose about 10% nationally in the December quarter, with increases in Victoria pushing beyond 15% as loss ratios worsened.
The Insurance Council of Australia says theft is a growing contributor to claims costs, with motor theft claims jumping 59% over the past financial year.
While theft still represents a relatively small slice of total claims, the upward trend—particularly in metro areas—is becoming harder to ignore. Look like a good time to be in the theft and recovery accredited world.