Catalytic Converter Theft and Your Auto Insurance Coverage

The latest trend when it comes to auto insurance claims doesn’t concern stealing a car. It concerns stealing one part of the car, namely the catalytic converter. Catalytic converters are put on cars to make them run smoother and more efficiently. The problem is they can be worth a lot of money. Thieves are stealing them off cars and recycling them to receive big bucks. Since catalytic converters are required by law, they need to be replaced if they are stolen. If you have comprehensive auto insurance, you will be covered.

What Are Catalytic Converters?

Catalytic converters are part of the emissions system of your car. Their job is to lessen the amount of pollution that your car releases into the environment. Catalytic converters are placed between the engine and the tailpipe. They are made with Palladium, Rhodium, and Platinum. All these soft metals are resistant to corrosion and are commonly used in many different ways.

Why Do People Steal Catalytic Converters?

The various metals contained within a catalytic converter hold a lot of value. Thieves steal catalytic converters to recycle the precious metals they can turn in for a hefty sum. Depending on the market, they can cost several hundred dollars per converter. Since the pandemic, these metals have become scarcer, making them much more valuable than ever before.

The Cost of a New Catalytic Converter

New catalytic converters can be extremely costly for the same reason. Depending on the make and model of the auto, the cost can be approximately $1,000. The cost of labor to put the new converter on will add to the price. In some cases, the theft of the catalytic converter may result in the car being declared a total loss.

Avoiding Catalytic Converter Theft

There are a few steps you can take to avoid having your catalytic converter stolen. Parking your car in a garage or well-lit area is the best way to prevent thieves from accessing your vehicle. Stealing catalytic converters isn’t an easy task. It takes time. Making sure your car is always visible or in an enclosed space is the best way to protect it from damage.

Signs Your Catalytic Converter Has Been Stolen

If your car begins to act differently or you have issues with how it runs, you may want to check to see if the catalytic converter is missing. If it is no longer in place and you believe it was stolen, you need to call the police as soon as possible and open a case. Once the theft is reported, you can contact your insurance agent.

Is This Type of Theft Covered by Your Car Insurance?

Comprehensive auto coverage will cover the theft of your catalytic converter. Other types of auto insurance won’t. If your car is an older model, it may be declared a total loss, and you will receive compensation for your car.

Cover the Catalytic Converter of Your Car with Duane Weber

Making sure your car is protected against all types of theft is important. Contact the agents at Duane Weber Insurance today to learn more about what you can do if your catalytic converter is stolen from your car.