I just read an interesting article. See, in 2023, car insurance premiums were up 24%. That’s absolutely insane. The article lists a large number of reasons for the spike but one really stuck out to me.
Thefts are becoming more common. Motor vehicle thefts were up about 34% during the first half of 2023 compared to the same time a year earlier.
Wait a minute…car thefts are up 34% in a year?
How have I not heard this? That’s what I would call an astronomical increase and an epidemic of car theft.
Obviously, it’s not just carjacking. We all see how retail stores are having to deal with increased theft.
Shoplifting statistics show that 88% of retailers say that shoplifters are at least somewhat more aggressive and violent compared to one year ago
US Retail Theft is About $95 Billion
Depending upon where you live you may even see the effects of this whether it’s locked up merchandise or the actual thefts themselves. When I lived in SF witnessing theft was an almost daily occurrence. Apparently it’s gotten significantly worse since I left.
When are we going to start addressing all of this? It significantly impacts all of us, whether it’s safety or the cost of goods since all of the cost of these losses are passed on to us whether through increased insurance premiums or higher prices at the register.
It’s time we all start demanding more be done about the our of control crime raging in our country.