Allstate reported that catalytic converter replacements among its policyholders grew 1,155% from 2019-2022, while the National Insurance Crime Bureau has found that nationwide catalytic converter thefts surged 1,215% during that same period. "Catalytic converter thefts exploded during the pandemic," Craig Edmonds, Allstate's vice president of auto physical damage claims, said in a release. "Supply chain disruptions raised the value of these parts. And because they're relatively easy to steal, theft rings have pounced, creating a multimillion-dollar black market enterprise. Fortunately, there are ways to protect yourself from becoming a victim." Allstate noted that comprehensive auto coverage can pay to repair or replace damage caused by vandalism, theft or attempted theft. "Based on conversations with industry professionals, including shops and appraisers, the market for these stolen parts is booming with the demand for parts so high, being mainstream supply chains have not been what they were prior to COVID," Steve Kern, casualty claims manager for Pennsylvania Lumbermens Mutual Insurance, said. To deter would-be catalytic converter thieves, Kern recommended:
- Etch the VIN or license plate number onto the catalytic converter.
- Park in the most secure and well-lit location possible (including fencing with a locked gate and motion-sensing cameras).
- Remember that commercial vehicles, vans and SUV's are particularly susceptible due to higher ground clearance and easier access.
- Install vehicle alarm devices.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
