The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

MONEY MATTERS g & 8 = 5 SRIVINDHYA KOLLURU 3 2 z ‘he number of vehicle ® nets in Toronto almost 3 tripled between 2015 and 5 2022, according | to a recent § Canadian Finance & Leas- g ing “Ascociation report — and that rampant theft is driving wy premiums across the province. Average auto insurance rates across Ontario cities have surged 12 per cent in 2023 c (0 2021, in part due to the increase in theft, according to Rates- lotca, and the average pre- mium for an Ontario driver is $1,744. The premium is what keeps your policy in force. But even with such basic auto insuran quotes don't completely protect you in the event someone steals your car. our insurance will cover the cost of re- placing your car, most ba- sic ponies will only cover the de it's unlikely y youlbe be. abie ve to. Similarly, der most policies youll o on ly be covered for the depre- ciated cash value of items physically mounted to your vehicle, such as roof racks. Personal items left in the car often are often | not covered, but thos be covered under home or renter's insurance Policies. You would need compre- hensive auto coverage, which includes policy add- ons, to protect you from the theft of such items. Some vehicles are more susceptible to theft, and owning one can raise your premium. While every in- ce company compiles its own list of the most-sto- len vehicles, Daniel Ivans, insurance expert with Ra- tesdotca, says SUVs and DIVERSIONS Metroland file photo Average auto insurance rates across Ontario cities have surged 12 per cent in 2023 compared to 2021, in part due to a rise in car thefts, according to Ratesdotca. trucks top these lists. “Ifa particular vehicle is stolen a lot and insurance companies are losing a lot of money in terms of claims for thefts of a certain type of vehicle, then we can an- ticipate that there's a chance that those vehicles ight see a surcharge on renewal,” says Ivans. To offset this surcharge, some insurance companies are offering significant dis- counts or outright elimi- nating surcharges to driv- ers who install anti-theft tag devices or a club device on their steering wheel. Morgan Roberts, direc- tor of RH Insurance in On- tario, says Ford F-150 and e Ram pickup trucks often rank high on the list of most-stolen vehicles. Wi to make sure your insur- ice policy covers you for wehicle theft. If you recently bought a new vehicle or are on the market for one, Ivans and Roberts recommend pur- chasing a waiver of depre- ciation. Ivans says this cov- erage will ensure your ve- bicle me coverehe based on. the e pric insta a its eee erica ovens also recommends talking to your broker about “loss of use" cover- age ii erage, also known as OPCF 20, covers the cost of a rental vehicle WHAT DOES MY INSURANCE COVER IF MY CAR GETS STOLEN? while your vehicle is being replaced or repaired. Ivans says it pays to have this add-on, as it's far more af- fordable than renting a ve- hicle out-of-pocket. (De- pending on your insurance company, the OPCF 20 add- on can cost about $60 to $80 per year, while you can ex- pect to pay almost double that to rent a car per day in Onfari 0.) “Bundling your policies together i is the best way to keep rates low," explains Ivans. Otherwise, he rec- ommends looking into us- age-based insurance that charges drivers based on factors like mileage and driving behaviours, which can offer savings for good driving habits. "For theft specifically, the anti-theft tag an‘ steering-wheel club are go- ing to be your two biggest allies es depending 0 n the in- company you're with," “ says Ivans. Crossword puzzle answers use American spelling ACROSS 38. Looks after 9. Hired car 4. That girl 39. Leave 40. Continually 5 3 1 4, Region 43. Garden tube 11. Window part 1 8 8. Dance component 44. Anxious 19. More uncommon 12. Fierce anger 45. Newsroom word 21. Building wing 9 13. Hollow plant 47.Mouse catcher 22. Willing’s partner 2 6 7 14. Volcano flow 50. Scrabble piece 23. School official 15, Label 51. Regulation 24, Paces 314 2 16. Farm cylinder 62.141 26. Sleds 6 9 4 1 17. Steers 53. Bar beverages 27. Roadway hazards ale 18. Branding 54. Auctioneer's word 28. Links 9 7 20. Go to bed 55. Crafty 29, Betwixt 7 4 22. Jingle writer 30. Agts. AG 24, Maiden DOWN 35. Organ of hearing 25, Saloon order 1.Popularshow 38. Lugged 26. San Francisco 2. Historical period 39. Evidence attraction: 2wds. 3. Corps 40. Sinister a T 31. Fixed route 4, Fire-setting crime 41. Stack § 32. Black gold 5. Control strap 42. Fruity drinks fs a 2 33. Certain ones 6. Snaky fish 43. Small mountain [59 lal 9 6 . ea 6 € 34.Plea 7. Endearingly 46. Pair en zi 3 36. Cut 8. Piggy bank 48. Hole piercer 53 iy 8 B37. Burro feature 49. Santa’s gift lal ¥