Toyota Tundra becomes the ultimate theft prize – and here’s where your vehicle ranks

📊 Insurance News Analysis: Our editorial team has analyzed recent developments from insurancebusinessmag.com in the Insurance sector. This report covers key insights related to car insurance, life insurance, health insurance and emerging industry trends that professionals should monitor closely.

Recent analysis in the Insurance sector reveals significant developments. Data shows that by Branislav Urosevic
If you own a Toyota Tundra, here’s the hard truth: it’s one of the hottest commodities in Canada’s criminal economy. Équité Association’s new national theft data shows that even with auto theft down 19%, thieves are now hunting for fewer vehicles with bigger payoffs – and the Tundra has become the ultimate prize. 
Part of the appeal is financial. The Tundra is one of the few full-size trucks in Canada that barely depreciates, holding its value for years. For organized crime, that’s pure gold: a stolen 2024 Tundra can be resold domestically, re-VINed, stripped for parts, or shipped overseas with far less loss in margin than most other trucks.

In the world of illicit vehicle trade, the Tundra behaves like a blue-chip asset. 
But what truly puts it at the top is the theft rate, not the raw count. With 74,298 Tundras insured and 1,129 stolen, it carries a 1.52% theft frequency – the highest of any mass-market vehicle in Canada. That means a Tundra owner is statistically more likely to lose their truck than someone driving a CR-V, RAV4, or F-150. 
It’s followed closely by two other lucrative targets: the Lexus RX Series (1.14%) and the Jeep Wrangler (1.03%), both of which combine strong global resale demand with vulnerabilities professional thieves know how to exploit quickly. 
Despite the downward trend in total thefts nationwide, the financial fallout is still staggering. Auto theft losses continue to exceed $1 billion a year, a cost ultimately shouldered by consumers.

Evidence suggests that “This means that honest, hardworking Canadians still bear the true emotional and financial burden of this crime,” stated Terri O’Brien, President & CEO of Équité Association. 
She noted that the organization is pushing for preventative measures like mandating the new ULC 338 anti-theft standard, while working with Public Safety Canada to sustain momentum under the National Action Plan on Combatting Auto Theft. 
Meanwhile, thieves are not retreating – they are evolving. Newer SUVs with keyless-entry vulnerabilities remain prime targets, particularly in Ontario and Quebec. Sources indicate that the Toyota RAV4, stolen more than 2,000 times last year, continues to be a favourite because it checks every box: high domestic demand, strong resale value, and easy global movement. 
“The Toyota RAV4’s appearance at the top of the list is a clear sign that organized criminal networks are not slowing down; they are simply shifting their tactics,” said Bryan Gast, Équité’s National VP of Investigative Services.

“We’re seeing a shift towards stolen vehicles being re-VINed for sale or disassembled in illegal chop shops and sold for parts. As the cost to buy and maintain vehicles rises, we can expect to see this trend grow.” According to Gast, thefts of ultra-luxury vehicles worth more than $200,000 jumped 47.5%, evidence that thieves are targeting vehicles that deliver maximum profit as law enforcement pressure increases. 
And while the Tundra dominates the theft-rate rankings, the national Top 10 by volume tells another story. According to Équité’s 2024 data, the most stolen vehicles in Canada by number of thefts were: 
Équité previously stated that one of the most important tools in shifting the momentum is the long-awaited overhaul of North America’s vehicle theft deterrent standards.

Data shows that earlier this year, Gast told Insurance Business that the new harmonized Canada–US standard has a major advantage over its predecessor: it’s not starting from scratch. The original framework was drafted in 1998 and didn’t become mandatory until 2007 – a nearly decade-long climb that allowed organized crime to outpace regulation. 
This time, the groundwork is already in place. The ULC Technical Committee has finalized the updated language, and both countries are working from an established system rather than inventing one. “It isn’t a net new process,” Gast said.

“There’s already one in place. So it’s just a matter of updating the standard and the requirements and the language of it.” 
That consistency is what he sees as the real breakthrough. A single benchmark across all manufacturers – covering both factory-installed and aftermarket anti-theft systems — would finally level the playing field for consumers and brokers trying to protect clients who feel like their vehicles are being targeted at random. “Some manufacturers are taking significant steps to protect their vehicles, but not all,” he said at the time. “So that gives the consumer the comfort to know that all manufacturers will be held to the same standard.” 
And while Équité stays out of the insurance-pricing side of the equation, Gast noted that stronger deterrence almost inevitably improves conditions for drivers over time.

A clearer standard, consistent technology, fewer vulnerabilities for thieves to exploit – all of it nudging the industry toward a future where vehicles like the Tundra aren’t an easy jackpot. 

Experts suggest this represents a significant moment for the Insurance sector, with implications extending beyond immediate stakeholders.

— Based on reporting from insurancebusinessmag.com

💡 Key Industry Insights

Insurtech solutions are streamlining policy management and claims processing operations.

Specifically regarding health insurance, market observers note continuing evolution in service delivery, pricing models, and customer engagement strategies that merit close attention from industry stakeholders.

Market Impact: These developments in car insurance may significantly influence market dynamics. Industry experts recommend monitoring these trends closely for strategic planning purposes.

Analysis Note: This comprehensive overview synthesizes current market intelligence from insurancebusinessmag.com regarding life insurance and related sectors. Stay informed about ongoing developments in this rapidly evolving landscape.