INSURERS TO SUPPORT LEGISLATIVE STUDY ON AUTO THEFT

The National Association of Mutual Insurance Companies based in Indianapolis, Ind., will support a legislative study on auto theft in Arizona when the bill is heard in the state’s legislature. A proposed bill has been pre-filed for possible consideration.

SB 1019, Automobile Theft Authority Vehicle Theft Study Report, would require the Arizona Automobile Theft Authority to study:

The Authority’s study is to be completed by Oct. 1, 2006.

A motor vehicle is stolen every nine minutes and in Arizona, one is stolen every 42 seconds, making the Grand Canyon State first for vehicle theft per capita in the country.

Fourteen states including Florida, Georgia, Illinois, Kentucky, Louisiana, Massachusetts, Minnesota, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, Texas and Washington have laws that offer drivers discounts on their comprehensive insurance for having anti-theft devices.

There were more than 1.2 million motor vehicle thefts in the U.S. in 2004.The average comprehensive insurance premium, rose 11.2 percent from 1999 to 2003, according to the Insurance Information Institute.