Triple-I Blog | Valuable metals make catalytic converters an attractive target for thieves
Huge spikes in catalytic converter theft have been reported throughout the nation in recent months. The anti-pollution devices contain precious metals such as platinum, palladium or rhodium and can be removed from the bottom of a car or truck in as little as five minutes.
Thieves are getting anywhere from $50 to $250 per converter from recyclers, according to the National Insurance Crime Bureau (NICB) and replacing the part can cost $900 or more.
In an effort to stem the thefts, the NICB has recently teamed up with several Virginia police departments to host catalytic converter etching events. During the events, mechanics etch and paint vehicle registration numbers onto the converters, which serves to track the parts if stolen.
Additional etching events are currently being scheduled in Virginia. The NICB encourages law enforcement across the nation to hold similar events to help combat catalytic converter theft.
Other theft prevention options include installing a steel shield that fits over the catalytic converter, requiring time and extra tools to remove the part; cages made of high-strength steel that’s difficult to cut; or stainless-steel cables welded from the catalytic converter to the car’s frame.
If your converter is stolen, the theft is covered by the optional comprehensive portion of your insurance policy in some cases. But you will be responsible for paying the deductible. If your deductible is $1,000 and the cost to repair the damage costs $1,000 or maybe a few hundred dollars more, you may not opt to file a claim.
Drivers are advised to contact their insurers to report the theft and determine the best course of action.