The first five months of 2009 have seen a 38% year-on-year rise in the average value of car theft claims, with more high-end vehicles being targeted, a study has revealed.
According to statistics from insurance firm LV=, although car theft fell by 11% between 2007 and 2008, the average age of vehicles stolen has come down from 10 to eight in the past five years.
The survey also found that motorists in London were most likely to be victims of car theft followed by those in Manchester, Cardiff, Leeds and Birmingham.
The insurer warned that owners of luxury cars like Porsches, BMWs and Jaguars needed to be "more vigilant" to keep their vehicles safe.
LV= car insurance managing director John O'Roarke said: "Over the last few years there had been a significant decline in the numbers of cars being stolen but a sharp increase in the value of cars being targeted by thieves.
"Cars have better security measures on them than ever before so many opportunist thieves simply don't bother any more. It would appear that the cars that are being stolen are specifically targeted by thieves who will often break into the owner's property to steal the keys."
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