Catalytic Converter Theft Insurance

If you have comprehensive Auto Insurance including theft as well as physical damage and liability your policy will cover replacing a stolen catalytic converter minus the deductible. If you have a garage at your house park your car inside and keep the garage door shut.

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If you have further questions give us a call at 1-800-279-4030.

Catalytic converter theft insurance. Consider these tips from The Spruce to help protect your car from catalytic converter theft. Can you file an insurance claim for a stolen catalytic converter. For the first half of 2021 that number has ballooned to 1380 an almost 210 percent increase.

AA insurance claims have gone up from 32 in 2018 to 393 in 2019. First of all both your personal auto insurance and business auto insurance cover the damage to your autos with a theft of catalytic converter as long as you have full coverage. The optional comprehensive portion of your insurance policy the portion that covers damage caused to your vehicle not caused by accident covers this kind of loss.

Depending on your personal or commercial auto insurance policy catalytic converter theft may be covered. There are a few preventive steps you can take to keep your catalytic converter. Promptly report any thefts or attempted thefts to your local police.

When possible park in well-lit areas and close to building entrances. Some insurers may not cover this damage because it was not caused by an accident. Contact your insurance company to find out.

In December 2020 alone 2347 catalytic converter thefts were reported to US. A stolen catalytic converter would be considered a partial theft claim covered by your commercial auto or personal auto policy subject to your deductible. Youll likely need to pay your deductible.

If you have a vehicle at high risk for a catalytic converter theft you might consider lowering your deductible amount depending on your budget. Catalytic converters contain precious metals making them tempting targets for thieves. Your insurance may cover the replacement costs but youll still be on the hook for your deductible.

Is it covered The answer is yes. A thief can steal a catalytic converter in less time than it. Yes as long as you have comprehensive physical damage coverage something we always recommend on your vehicle s.

The National Insurance Crime Bureau NICB identified a noticeable spike in catalytic converter theft by mid-2008 linking it to a similar growth in platinum jewelrys value. The average households in many US cities have more than one vehicle. State Farm has released auto insurance claims data showing that there is a sharp upward trend in catalytic converter thefts that has been taking place since the second half of 2020.

It is believed that this is driven by the value of the metals inside. Have the catalytic converter welded to your cars frame which may make it harder to steal. But converter theft seems to happen far more often in major cities than in rural areas.

That however requires submitting a claim which can adversely affect future premiums. Samson the mighty delivery truck that was stripped of its catalytic converters during a theft earlier this month at Resurrection Life Food Pantry in Cheektowaga is back to work. Insurance Coverage for Theft of Car Parts.

While platinum prices have remained fairly stable there has been a sharp increase in the value of palladium. Catalytic converters arent cheapit can cost anywhere from 3000 to 5000 to have a shop replace the catalytic converter on a Toyota Prius. Having your cars catalytic converter stolen can be a significant financial burden.

Catalytic converter theft is widespread and affects many car makes and models. You should open a claim an the payment will be processed with comprehensive part of your insurance policy. Youre probably thinking Okay Ill be careful.

Your Comprehensive Coverage would respond minus your deductible. In some cases this theft is covered by insurance. In recent years catalytic converter theft has risen dramatically.

Auto insurers according to NICB data. However the cost may be close to the amount of the policy deductible so many victims pay for the catalytic converter replacement cost out of pocket rather than filing a claim. The National Insurance Crime Bureau reports that the average number of monthly thefts jumped from 282 in 2019 to 1203 in 2020.

But what happens if my catalytic converter is sawed off my car. If your catalytic converter is stolen you should immediately contact the police then your insurance provider. Though car theft and car parts theft are nothing new the trend in this one specific part is.

Call local law enforcement and your insurer should you become the victim of a catalytic converter theft. As with many exposures prevention is the best policy. From a growth perspective the situation is dire in Texas where during 2020 there were 445 catalytic converter thefts reported by State Farm customers.

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