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Anti-theft Tracking Devices Are Basically a Requirement
The word on the street in Mississauga is that anti-theft tracking devices are basically a requirement at this point.
Mississauga resident Arwinder Kalsi was surprised when his insurance company threatened to increase his premium unless he installed a specific security device in his vehicle.
Kalsi, owner of a 2020 Toyota Tundra pick-up truck said he recently got a letter from his insurance company (TD Insurance) that said he must install an anti-theft tracking device right away or his insurance premiums would go up as a result.
“I was looking at the letter and I was pretty shocked,” Arwinder Kalsi, a Mississauga resident, said.
The Canadian insurance industry lost more than a billion dollars to auto theft claims in 2022, which is why some companies have started telling customers they must have an anti-theft device installed or their premiums will be summarily increased.
“My renewal will be pretty much higher if I don’t install these tags. I feel like the consumer is being held hostage. It’s like if you don’t do this we will raise your premium,” he said.
Why Anti-theft Tracking Devices Are Basically a Requirement
A spokesperson for TD Insurance was quoted as saying it prioritizes offering its customers “the best protection, advice, and support.”
“As auto theft rates continue to rise we are strongly encouraging customers with vehicles that have been identified as being at a high risk of theft to better protect themselves with an approved Anti-Theft Tracking Device, and providing support for the installation cost at this time,” they said. “With an approved tracking system customers will have greater peace of mind with a trackable device anywhere in North America, 24/7, and a higher rate of recovery in the event their vehicle is stolen.”
TD Insurance is not the only company asking its customers to install tracking devices. Aviva and Intact, for example, are also asking customers with high risk vehicles to install the Tag tracking system. Freddy Marcantonio with Tag Tracking said the Tag system is widely used in Quebec and has helped to significantly reduce auto theft within that province.
“The only reason the thieves have moved into Ontario is because the majority of vehicles the thieves want to steal are protected by the Tag system in Quebec,” Marcantonio said.
According to the company, the Tag system has wireless tracking and recovery, no signal jamming, quick and efficient tracking, and a proven recovery rate. They also claim their logos are an effective theft deterrent. As an example, Marcantonio said that in a 24-hour period in the Greater Toronto Area, there were 15 vehicles stolen that have the Tag Tracking system – 12 of which were recovered.
“We are waiting on the other three for the police to come, and then they should be recovered as well,” Marcantonio said
Many drivers are saying they will likely get the Tag Tracking system as they don’t want their insurance premiums to go up, since anti-theft tracking devices are basically a requirement now. If you need advice on this topic, reach out to a broker at My Hunter by calling 1-877-454-4476 or by visiting our Contact page.
Check out this related report from CTV news below: