During 2020, catalytic converter thefts increased significantly year-on-year and that trend accelerated in 2021, which saw these types of crimes increase 353% compared with the year prior, according to Beenverified.com. Vehicles generally can't be driven without catalytic converters, which can cost thousands of dollars to replace, The National Insurance Crime Bureau (NICB). The cost of replacing a catalytic converter and repairing any additional damage caused by the theft is generally covered by a comprehensive auto insurance policy. David Glawe, NICB president and CEO, said in a press release: "We have seen a significant increase during the pandemic. It's an opportunistic crime. As the value of the precious metals contained within the catalytic converters continues to increase, so do the number of thefts of these devices. There is a clear connection between times of crisis, limited resources, and disruption of the supply chain that drives investors towards these precious metals." When it comes to makes, Toyota, Honda and Lexus vehicles were the most commonly targeted during 2020, according to Beenverified.com. The Toyota Prius and 4Runner, Honda Element, Toyota Tacoma and Honda Accord, respectively, saw the biggest year-on-year increases in catalytic converter thefts in 2020. The above slideshow reveals the 10 states that saw the biggest year-on-year increase in catalytic converter thefts during 2021, according to Beenverified.com. Related: |
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.