Santam requires some clients to install two tracking devices in their cars to combat the rising cost of hijacking and vehicle theft claims.
Vehicle hijacking and theft claims have skyrocketed to unsustainable levels, and insurers are insisting certain clients now install two tracking devices as they try to mitigate the cost of these claims.
Additionally, the insurer noted that high-value vehicle theft claims shot up by 128% on the commercial side, with criminals targeting delivery trucks. Santam’s report noted that the experience was so poor that several corrective actions were needed to minimise exposure – including, discussing tech-linked weaknesses with vehicle manufacturers, and promoting Faraday pouches to prevent the cloning of keyless access signals.
Santam noted in its report that it has seen a shift away from older, low-value vehicles with limited security requirements to more expensive double cabs and SUVs. This aligned with the experiences of private security companies such as Fidelity ADT.
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