Motor Trade Insurance

2010 Report: 1994 Honda Accord most popular among thieves

Honda Motor Co.'s 1994 Accord was the most-frequently stolen car in the U.S. in 2010 for the third straight year as weak security systems and a demand for parts drew thieves, the National Insurance Crime Bureau said.

Almost 52,000 Honda Accords were stolen in 2010, the non- profit trade group said in a statement today, citing FBI data. The 1995 Honda Civic was thieves' second-favorite car last year and Toyota Motor Corp.'s 1991 Camry came in third. Honda and Toyota cars have been among the top three most stolen cars since 2000, according to the report.

“There is a substantial black market for hot parts,” Frank Scafidi, a spokesman for Des Plaines, Illinois-based NICB, said in a telephone interview. “A lot of times, those vehicles are stolen and they're worth more in parts than they are intact.”

This year was the first since 2002 that more domestic cars than foreign models made the NICB's top 10 list. Ford Motor Co. had three car models on the list, with Chrysler Group LLC's Dodge Ram and Dodge Caravan.

The increase in the popularity of domestic models may be tied to improvements in the reliability and durability of U.S. cars, said John Abounader, executive director of the International Association of Auto Theft Investigators.

“When they're a well-made car, they're going to be stolen,” he said in a telephone interview. “U.S. automakers have made advancements. People are noticing them finally.”

A 1990s model of the Civic or Accord was the most stolen vehicle in 16 states, according to the NICB report. In 1997, Honda began equipping its cars with immobilizer systems, which prevent cars from running unless the driver has the key, said Chris Martin, a spokesman for Honda's U.S. unit.

The upgrade “really makes a big difference,” he said in a telephone interview. “It raises the technological hurdle for a car thief to be able to drive away in one of our cars.”

The FBI data used in the NICB report track only the most popular model year for each car on the top 10 most-stolen list, so that no vehicle is listed twice.

Nationally, U.S. vehicle thefts dropped to the lowest level since 1967 in 2010 after a seventh straight year of decline, according to preliminary figures from the NICB. California, which counted the Honda Accord as its most stolen car, had eight of the top 10 regions for car thefts.

Insurers including Allstate Corp. and State Farm Mutual Automobile Insurance Co. offer discounts to customers who use antitheft devices. In addition to built-in security features, NICB recommends manufacturer-installed products such as LoJack Corp. tracking devices and Ravelco ignition disablers.

Motor Trade Insurance | Money | The Money Newspaper

Working in the motor trade industry can be extremely rewarding, but if you have a business you need to make sure you have the proper insurance. The specific type of insurance youll need is likely to depend on what your business does, but having motor trade insurance is a legal requirement so you shouldnt neglect it. In order to protect you and your business, if you work with motorbikes, cars or any other types of vehicle, you will need to have motor trade insurance.

There are quite a few different reasons you will need to have motor trade insurance. One is that, as mentioned above, it is a legal requirement that you do so. Another reason is that if you will be working with other people at all either as employees or with the general public then you will need to have this insurance to cover your business. This is because you need to make sure you are taking steps to minimize risk and protect your company and its customers.

Road risk motor insurance is a common type of motor trade insurance. If your business requires third party insurance, you will need this as it will cover you in the event of third party damage, injury or death. This will apply to your business if you will be driving anyone elses vehicle, buying and selling cars, repairing cars, running a garage or anything related to this. It is also important to make sure there is a theft element included in the insurance so youll be covered for vehicle theft.

You will also need liability motor trade insurance if you will be working with the general public in any capacity. This will normally be needed by the vast majority of motor trade business, as you are highly likely to come into contact with other people at some point and if you employ any people you will definitely need to get it. If you will come into contact with the public while selling cars, attending auto shows or other events, running a garage or at another time, youll need this insurance.

Lastly, you should also consider getting combined motor trade insurance as this is a very comprehensive policy and it will make sure you have covered as much risk as possible. It will cover your business for things such as money, the tools you use in your work, your premises, the contents of the premises, the vehicles you work with and more. Having motor trade insurance is crucial as you never know when you might need it: its better to be safe than sorry.

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