Further dispelling the misconception that high-end cars are safe from hijackings, Christelle Colman, managing director of Elite Risk Acceptances, says the high-net-worth insurer, now in its second year of business, recently picked up its first major stolen vehicle claim - a Bentley to the value of R4.7 million.
“This car did not have a tracking device installed, which means the odds of ever recovering the vehicle are extremely low,” says Colman.
“Considering that at least one motorist is hijacked every 32 minutes in South Africa, and 67 percent of hijacked vehicles are less than 10 years old, motorists should be taking advantage of increased technological reforms, such as installing tracking devices into their vehicles.”
Ron Knott-Craig, the executive: operational services at Tracker, explains how such a device increases the odds of recovering a stolen vehicle. “Without a stolen vehicle recovery service, there is only a 5-to-10percent chance of recovering a vehicle, whereas this increases to more than 80percent with the subscription to a stolen vehicle recovery service.”