Australian car owners, and their insurers, are continuing to benefit from continuing reductions in car thefts. The National Motor Vehicle Theft Reduction Council says 78,604 vehicles were stolen during 2005, which is 6662 fewer – or 8% less – than in 2004.

The rate of theft has fallen to just 5.4 per 1000 registrations, almost half of what it was in 2001.

Despite the falling numbers, insurers paid out slightly more for car theft claims last year. Total claim costs increased by just under 2% to $265 million for the 12 months to the end of September last year.

Policies with relatively high agreed values pushed the average claim among the top 20 insurance brands to $9220, significantly more than the $4900 median value for the period. The average agreed value claim cost insurers $11,650.