2025

As vehicle thefts surge in Australia, NRMA Insurance warns that modern cars, particularly those with keyless entry and advanced digital systems, are increasingly targeted using sophisticated electronic methods. NRMA’s Research Centre highlights that thieves are now bypassing traditional security measures by hacking into onboard diagnostic (OBD) ports or intercepting wireless key signals. To combat these threats, the insurance provider emphasizes the need for enhanced anti-theft devices that can safeguard vehicle data and onboard systems. Effective measures include OBD Port Locks, which restrict unauthorized access during servicing, and Faraday pouches, which block signals from key fobs, preventing remote unlocking or starting of vehicles. The NRMA is also exploring newer technologies, such as fob-sleeping batteries that deactivate when idle, a method already gaining popularity in Europe for securing keyless cars. Despite advances in technology, NRMA stresses the importance of traditional precautions, urging vehicle owners to park in secure locations and store keys out of sight to minimize theft risks. The overall message is a combination of embracing new technologies while adhering to established safety practices to effectively reduce the likelihood of vehicle theft.

Electric vehicles (EVs) have shifted from being seen as a cost-effective and environmentally friendly option to facing rising insurance challenges due to increased repair costs and complexities. As their market penetration grows, insurers are adjusting premiums as the unique risks associated with EVs, particularly their expensive batteries, become more apparent. While the risk of EV fires is comparable to internal combustion engine (ICE) vehicles, the concentration of value in the battery raises concerns about potential fire severity. Furthermore, the integration of advanced driver-assistance systems (ADAS) complicates repairs, which are often costly. Supply chain issues also contribute to longer repair times.

Driving styles, especially for newcomers to EVs, can lead to higher accident rates due to instant torque and acceleration. Urban environments exacerbate this issue due to increased traffic congestion, leading to more minor collisions. Despite these challenges, some EV features, such as GPS tracking, may reduce theft risk. Overall, while repair costs are currently higher for EVs, they are expected to align more closely with ICE vehicles as the market matures and insurers refine their practices.

Brokers play a crucial role in educating EV owners about insurance complexities, ensuring they avoid coverage gaps. Comprehensive coverage is essential, especially as new drivers may face a learning curve with EV operation. Understanding policy nuances, particularly regarding battery and charging equipment coverage, is vital for protecting high-value EVs.