MiWay, an insurer and financial services provider, revealed that chop shops, dealing in stolen car parts, have an estimated trade value of about R442 million. This makes reselling car parts lucrative and less traceable than reselling stolen vehicles. Picture: ET Rapid Response
Durban – An insurer and financial services provider has revealed six of the most-frequently stolen car parts and accessories, and advised motorists on how to protect themselves.
According to MiWay, the rise of vehicle hijackings continues to affect South Africans in 2024.
The company said that according to Cartrack, a prominent car-tracking company, the theft of car components had become more widespread than the theft of entire vehicles. The high demand for affordable, readily-available parts on the black market drove this trend, as these parts are easier to conceal and harder to trace than whole cars.
MiWay spokesperson Siyakha Masiye noted that despite motorists adopting numerous safety measures, such as installing multiple tracking devices, parking in well-lit areas and practising increased vigilance, carjackers were becoming more sophisticated.
Masiye said figures showed the most frequently-stolen accessories included car wheels, wheel caps, car batteries, sound equipment, vehicle mirrors and headlights.
Airbags, batteries, tailgates, wheels and tyres were also among the most-frequently stolen parts.
He said these items were easier to hide and harder to trace.
Masiye explained that chop shops dealing in stolen car parts have an estimated trade value of about R442 million. This made reselling car parts lucrative and less traceable than reselling stolen vehicles. Even car mechanics had been involved in this, sometimes replacing parts with faulty, cheaper ones when doing repairs.
He said the rise in vehicle hijackings in South Africa and an associated increase in road crimes highlighted the importance of having comprehensive cover for a vehicle, as this provided financial protection against theft and helped cover repair costs from break-in damage or accidents following an attempted car theft.
He said this type of insurance could also help when replacing stolen or damaged vehicle parts, such as a missing battery or headlights, which were common targets for thieves due to their high resale value, but could be a costly out-of-pocket repair without insurance.
“When purchasing car insurance, it is crucial to specify any additional features your vehicle may have, such as mag wheels, music systems, sunroofs, roof racks and whether or not you have a tracker. These enhancements increase the overall value of your car and the associated risk, which ultimately affects your monthly premiums. But the cost of cover significantly outweighs the cost of having to deal with theft or repairs without it,” Masiye said.
“Failing to declare these features means your car will be insured for a value that excludes them, and they are unlikely to be covered in the event of a claim. Comprehensive insurance, therefore, not only protects the basic vehicle, but also ensures that all custom additions and enhancements, if specified, are adequately covered, providing peace of mind in the face of growing criminal activities targeting motorists.”
Consider taking these precautions to protect yourself and your vehicle from thieves:
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