If you've ever driven over a snowy mountain pass with a clogged catalytic converter, you know the importance of these critical emissions control devices nestled on the underside of your vehicle. So what's with the sudden spike in thefts nationwide?
The economic impacts of the global COVID-19 pandemic have triggered an uptick in catalytic converter theft. Unfortunately, these car parts can take as little as a minute to steal with a trained hand and a hack saw. And while the repair could set you back between 1,000 and 2,400 dollars, recycling the previous metals contained within can earn the thief up to a few hundred bucks in a jiff.
A few things to know here:
• Vehicles that are easier to get underneath are targeted more often - think trucks and SUVs.
• The market price of palladium and rhodium, both used in the fabrication of catalytic converters, is surging with a united global effort to reduce emissions.
• In St. Louis, catalytic converter thefts jumped more than eightfold, from 50 in 2019 to 420 last year, with the trend gaining speed near the end of the year into early 2021. In Lexington, South Carolina, sheriffs deputies responded to 144 catalytic converter thefts between July and December, nearly triple the number of cases over the year-earlier period. (–New York Times)
• Catalytic converter coverage is typically included in comprehensive auto insurance policies, hinging on whether the specific scenario you encounter falls within the bounds of your policy. Depending on your deductible, this is typically an occurrence worth reporting to your insurance.
• Claiming this theft won't necessarily raise your policy rates.
• Protecting yourself against catalytic converter theft is challenging, but not impossible! Suggestions range from increasing the sensitivity of your car alarm, having a professional weld your converter to your vehicle's frame, parking in the garage or more protected areas (like under a street lamp), carving your VIN on it in hopes of a metal recycler catching it, or keeping a tiger in your vehicle.
We have been getting an increased number of theft claims to our Barber Insurance inbox - please stay aware. Not sure if you have comprehensive coverage? Give us a call - let's talk about it!