The Iconic American Car With The Worst Theft Frequency
When you're in the market for a new automobile, you might be seeking high-tech features like wireless charging pads, heated and ventilated seats, and automatic emergency braking. Other people prefer high-performing sports cars that can deliver plenty of speed and power. However, you may want to pay attention to another key category: cars that are most likely to be stolen. When you own a vehicle that has a higher-than-average likelihood of being targeted by thieves, you're more likely to suffer not just inconveniences but also pay a higher financial price.
If you'd like to reduce the risk of thieves targeting your new car, you might want to skip one iconic American car in particular, the Chevrolet Camaro ZL1. According to the Highway Loss Data Institute (HLDI), insurance claims for stolen cars from model years 2022 through 2024 showed the Camaro ZL1 is 39 times more likely to have a claim compared to the average vehicle. Meanwhile, the regular Chevrolet Camaro is about 13 times more likely to have a stolen car insurance claim than the average. Despite this, the Camaro has enjoyed a significant sales resurgence recently, increasing more than 100% from 2022 to 2023 after GM announced it would stop making the muscle car. Considering the Chevrolet Camaro is also one of the worst cars for retirees because of poor reliability, you might want to skip this model entirely.
Why thieves love Camaros as much as muscle car enthusiasts do
After learning of the significantly higher likelihood of thieves targeting the Camaro ZL1, the HLDI took a closer look at historical data related to stolen Camaros. Based on information from the organization, and news reports, thieves are cloning the key fob for newer Camaros — making it easier to steal the vehicle. Thieves target muscle cars more frequently than other vehicles as they're generally looking for automobiles with higher-than-average horsepower and accompanying price tags. The 2024 Chevrolet Camaro ZL1 has an MSRP in excess of $75,000 and a maximum horsepower of 650, whereas an average mid-sized vehicle cost about $33,500 in 2024, with an average horsepower range of between 180 and 200.
The HLDI report did not distinguish between full vehicle thefts and partial thefts for parts. However, thieves do tend to target the Camaro ZL1 in an effort to resell the entire vehicle, or strip it for parts. Some of the most expensive car parts thieves are likely to steal and target include unique components like the Camaro's engine, transmission, and suspension. Some of the highest levels of insurance claims for stolen Camaros have occurred in California, Tennessee, Mississippi, Maryland, and Texas, so you should be on higher alert in these areas. To protect your Camaro from thieves, consider a steering wheel lock, kill switch, or even air tags. Some Camaro owners even keep their key fobs in Faraday pouches to block their signals.
Why owning a frequently stolen car can be a costly problem
Many factors contribute to the cost of insurance for your vehicle, including the frequency of thefts for certain models, as well as your driving record and even credit history. If you own a Camaro ZL1, you will probably end up paying more to insure your vehicle because of the statistics that show it's a frequent target for thieves. Plus, if you live in an area that has higher-than-average rates for stolen vehicles, you'll also probably pay higher rates, even if you have never made a claim for theft on your Camaro. Per DeNooyer Chevrolet, estimates place insurance for the Camaro ZL1 at almost $2,000 annually, which is roughly $500 more than the average for any automobile.
If law enforcement officials recover your stolen motor vehicle, your insurance company should pay for any damages that occurred to the vehicle – as long as you have comprehensive coverage. Your comprehensive coverage should also give you a payout if law enforcement fails to recover the vehicle. This typically means the insurer will pay the actual cash value (ACV) for the vehicle at the time it was stolen, which takes into account its mileage, age, and condition. However, you will still have to pay any deductible included in your policy in either situation, with the average deductible for car insurance policies sitting at $500, according to Kelley Blue Book. If you only have liability insurance coverage for the vehicle, your insurer will not cover any expense related to your stolen car, regardless of whether it's recovered.