Keyless cars have sparked a rise in autos theft by a third – and all drivers are paying for it
A record £23million is paid out by car insurers every single day, with the cost of theft claims up by a third
MORE THAN £271million was paid in compensation by insurers for stolen cars in the past 12 months - a third more than last year.
Keyless cars have been blamed for the 11 per cent rise in settled claims, as the tech has triggered a wave of 30-second thefts.
A record £23million is currently being paid out every single day for stolen motors, body damage and personal injury.
The shocking figures were released at the ABI (Association of British Insurers) Motor Conference today.
So-called relay thefts are when a signal-boosting device is used near a keyless car - usually, outside the home of where the key is kept - which unlocks the vehicle in a matter of seconds.
Countless CCTV footage filming the ease of the theft has been released since the widespread introduction of the tech.
Car makers are yet to come up with a solution for the problem, beyond telling owners to use Faraday pouches that deflect signals when the key fob is inside.
Meanwhile, the cost of car insurance increased by £8 over the past quarter - taking the average premium price up to £760, according to the .
Further to that, motorists that chose to renew their policy between July and September 2018, saw a £50 hike on average.
However, the ABI claims that premiums have been falling this year, despite the rise in thefts and repair costs.
A whopping £3billion has been paid out by insurers for repair bills so far this year - a five per cent increase on 2017.
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Huw Evans, ABI’s Director General, said: "Motor insurers are delivering when it matters, keeping Britain's motorists on the road when things go wrong, and compensating those who suffer injury in road crashes.
"Despite rising claim costs, all drivers will appreciate the fact that the average price paid for motor insurance has been falling this year.
"This in part reflects the continued competitive market, and that some insurers may be reacting to the progress of the Civil Liability Bill that is proceeding through Parliament that will bring much-needed reforms to the personal injury compensation system."