How Much Does it Cost to Replace a Stolen Catalytic Converter? with Insurance Panda. After you pay your deductible, your insurance should cover the full cost of repairing or replacing your catalytic converter, up to the value of your vehicle or the limits of your policy. Stolen catalytic converters are currently worth up to. The number of catalytic converter thefts in the United States. This website uses cookies to improve your experience while you navigate through the website. Cars that are least likely to have catalytic converters stolen are ones with fewer precious metals and therefore scrapyard value. Copyright Ocean Finance 2001-2023. Using powertools,the thieves can get away with your catalytic converter in just a couple of minutes. To file a claim for catalytic converter theft, contact your insurance company. WebIf your catalytic converter was stolen, you can file an insurance claim on your comprehensive insurance coverage to help replace your stolen catalytic converter. Gather evidence This can include police reports, any eyewitness information, photographs or other supporting evidence. This cookie is set by GDPR Cookie Consent plugin. In some cases, such as with leased or financed vehicles, the lender may require you to purchase comprehensive coverage. Catalytic converters are essential and have the primary function of controlling harmful emissions Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience. Instead, you should be able to make a claim and continue to pay the same rates for car insurance. Car insurance companies have put in provisions across the board to handle the rising threat of catalytic converter thieves and offer advice on spotting tampering or theft. It does not store any personal data. The most commonly targeted cars within the last three years are: Many thieves target tall cars like SUVs and trucks since they are easier to access. If you dont have comprehensive insurance, youll need to pay for the repair out-of-pocket. Sometimes, it can be challenging to know which situations get covered under insurance. The cookie is used to store the user consent for the cookies in the category "Other. All Rights Reserved. Torque is the rotational force often associated with tasks like towing, hauling, or climbing. This Since catalytic converters convert pollutants into a harmless gas, they are an essential component in our fight for a cleaner world. A car with a missing or defunct catalytic converter also doesnt filter exhaust properly, which means it wont pass inspection. Learn about our editorial standards and how we make money. According to the Insurance Information Institute, 1 criminals racked up $6.4 billion in motor vehicle thefts in 2019, with the average cost per theft at $8,886. It all depends on your policy. They contain rhodium, palladium, and platinum, and its the value of these metals that are making them attractive to thieves - theyre all precious metals that are more valuable than gold. The rising risk of having your cars catalytic converter stolen is emotionally challenging, but there is some relief. Drivers who have already started driving, or did not notice these two initial signs, may find that their car is not as responsive as it should be. Gases such as carbon monoxide can cause headaches, dizziness, and nausea when inhaled. The National Insurance Crime Bureau reported catalytic converter thefts increased from roughly 1,300 in 2018, tomore than 52,000 in 2021. In these events, comprehensive coverage will pay to replace the converter, as well as any associated damaged caused by the hasty removal of the converter. You also have the option to opt-out of these cookies. If you are driving with your windows down and start to experience these symptoms, your catalytic converter may be missing. Then we will figure out what it takes for your insurance provider to help in such cases. Top-selling hybrids and hybrid models that dont have a matching all-gas equivalent may be most vulnerable because theyre easier to identify. If you find your catalytic converter is missing, you should immediately contact the authorities. If youre able to claim on your insurance, bear in mind that your insurance premiums will probably increase as a result. 4. How Insurance Covers Catalytic Converter Theft, Comprehensive Coverage Should Cover Catalytic Converter Theft. Understanding The Different Life Insurance Options. Even if you own your car outright, it's never a bad idea to consider additional protection, especially if you can't spare $1K to replace your catalytic converter. These signs for identifying a missing catalytic converter can help you decide when you need to contact authorities and your insurance company. Preventive measures include: Looking for more information about auto insurance? Provide as much detail as possible, referencing your insurance policy where appropriate. report a claim The United States has required catalytic converters on all gas-powered vehicles since 1975. "comp" coverage generally reimburses you when your car is damaged from theft, vandalism, fire or hitting an animal. Policygenius content follows strict guidelines for editorial accuracy and integrity. Catalytic converters are essential and have the. You can find your catalytic converter on the underside of your vehicle. Newer cars, however, can have metals in better condition because the converters haven't been subjected to as much wear and tear. While you may not know a lot of the information, such as who stole your catalytic converter or when it happened, this report will help narrow down who the thieves are and stop them from stealing other converters in the area. For example, hybrid cars are very popular since their catalytic converters last a bit longer. With identity theft becoming more common and costly, having Farmers Identity Shield may give you some peace of mind for only pennies a day. As long as your insurance is up to par, then you dont have to worry about the cost of repairs. Tell your insurance agent as soon as possible that your catalytic converter has been stolen and that youve filed a police report. Thats a staggering increase of 3900% in converter thefts! Because, until you hit the deductible amount, you and only you are responsible for covering repair costs on your vehicle. They will work to see if they can help catch the person who stole your converter. Most insurance companies will not raise premiums after a single comprehensive coverage insurance claim. or The catalytic converter is a component of your vehicle that reduces hazardous emissions. Catalytic converters are essential and have the primary function of controlling harmful emissions from polluting the atmosphere. Disclaimer: We make every effort to ensure that content is correct at the time of publication. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); MyCarVoice.com is a crowdsource platform with the goal of helping owners with their car problems. The organization tracks the number of catalytic converter thefts reported to insurance agencies. Not to mention an extremely important part of your vehicle. You may also want to look for abrasions and other evidence of tampering. Disclaimer: CarInsuranceCompanies.com strives to present the most up-to-date and comprehensive information on saving money on car insurance possible. For those with deductible plans, you may be obligated to pay for the replacement of a converter if you havent met your deductible amount yet. SmartFinancial Insurance is a digital insurance These large repair bills can be impossible for some motorists to meet. Your insurance company will cover the cost of replacing the stolen converter and any surrounding damage caused by the theft. Published 17 August 2021. Catalytic converter theft is on the rise and to a shocking degree. Contact your states insurance commissioner Most states will have a special unit to deal with issues such as unfairly denied insurance claims, or a mediation program that will help policyholders negotiate a disputed claim with their insurance provider. Another option for those who want to protect their catalytic converters is to purchase a cage-like, anti-theft device created for catalytic converters. As an example, events that are outside of your control, such astheft, vandalism, glass and windshield damage, fire, accidents with animals, weather, or other acts of nature. On average, with parts and labor, costs can range between $900 and $3,000. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. You may hear sputtering noises, smell exhaust and notice spotty acceleration that may indicate that something is wrong. Should You Be Concerned? A bonus with installing an alarm is that some insurance companies may offer a car alarm insurance discount. Depending on your coverage options, you may receive compensation for catalytic converter theft from your insurer. Collision insurance, on the other hand, will not cover catalytic converter theft. See car insurance quotes from our partners. This type of insurance is an optional add-on to standard liability insurance, which covers your vehicle in the case of an accident. Why do people steal catalytic converters? According to the Congressional Research Service, 14,433 catalytic converters were stolen in 2020. Comprehensive coverage is optional in all states and is part of full coverage car insurance. In fact, catalytic converter replacement costs range from about$900 on the low end to $3,500 or even a bit more on the high-end. Lets dig deeper into the question of, does insurance cover catalytic converter theft. How much is a catalytic converter worth in the UK? Life insurance teamMonday-Thursday 9am-10pm ETFriday-Sunday 9am-8pm ET, Home & auto insurance teamMonday-Friday 9am-9pm ET, Disability insurance teamMonday-Friday 9am-6pm ET, 555 S. Mangum St., 6th FlDurham, NC 27701. You will need your license, registration, and insurance card. Insurance doesn't have to be complicated. Theyre found underneath the car with the exhaust system and are designed to help reduce harmful emissions from the car engine. Have you ever had something stolen from your car? If you notice that your vehicle is struggling in these areas, check to see if your converter is still in place. According to theNational Insurance Crime Bureau (NICB), the average number of monthly thefts in 2018 was 108, which more than doubled to 282 in 2019. Your insurance covers the cost of replacing your catalytic converter minus your comprehensive coverage deductible. Much like your muffler, converters help dampen the engine sound. help protect your car against catalytic converter theft by etching the license plate As long as you have comprehensive coverage, you should be able to make a claim for catalytic converter theft. The cookie is used to store the user consent for the cookies in the category "Performance". Compare rates from dozens of companies in less than 3 minutes. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[250,250],'mycarvoice_com-banner-1','ezslot_7',609,'0','0'])};__ez_fad_position('div-gpt-ad-mycarvoice_com-banner-1-0'); This way, you can prepare for any eventuality when it comes to dealing with catalytic converter thefts. Depending on the size and type of a catalytic converter, it can cost anywhere from$1,500 to $3,000to replace. Because hybrids are partly powered by electricity, the converters found on hybrid cars are usually in better condition than on non-hybrid cars. The catalytic converter is responsible for handling the emissions of a car. Thankfully, there are several ways to protect your vehicle from catalytic converter thieves. What is a Life Insurance Annuity And How Does it Work? As soon as you turn your car on, you may notice a resounding roar that only gets louder when you accelerate. A stolen catalytic converter naturally falls under the theft category. Yes. Call your insurance agent. Palladium is skyrocketing in price and can cost from $2K to $5K an ounce, while rhodium is around $22K an ounce making these two precious metals more valuable than gold, price-wise. Hybrid cars can also be a favorite for thieves because their catalytic converters see much less use than standard cars, resulting in metal that's easier to salvage. Jones says an anti-theft device can help. If your catalytic converter is stolen or stops working your car will still drive, but youll need to make getting a new one a priority to avoid breaking the law. How much does it cost to replace a stolen catalytic converter? Park your car in a well-lit area, or install motion-sensitive lights around your house to deter thieves. Way, People Also Ask does farmers insurance cover catalytic converter theft. Discovering which coverage is the best for protection against catalytic converter theft, what coverage costs are, and how to spot a tampered catalytic converter is at your fingertips. She is a Fran Majidi manages content on SmartFinancial's website. Drivers who have their catalytic converter stolen can file a comprehensive claim and it will likely be covered, though you should check the details of your policy to verify what is and is not covered.. Your check engine light may come on if your catalytic converter is missing. Get a personalized Auto Insurance quote now. Between key fobs and security alarms, car protection can seem like a lot to handle for many drivers. Copyright 2012-2023 Insurance Panda. Insurance carrier website ranking by Keynova Group Q4 2022 Online Insurance Scorecard. Whats the difference between ATV vs. a dirtbike? But there may still be hope that you can get a new one without any cost to you. Our car insurance industry partnerships dont influence our content. SmartFinancial can help you view free car insurance quotes in just minutes after you enter your zip code below and fill out a brief questionnaire. The Bottom Line: Does insurance cover catalytic converter theft? However, your insurer may raise rates if you have had multiple comprehensive coverage claims in recent months. 124 Local Experts Are Waiting to Hear From You To learn more about auto insurance policies, contact our experts at 1-800-615-5897 or get a quote online in 5 minutes! It costs approximately $1,100 to $2,600 to replace a catalytic converter on an average vehicle, including parts and labor. Find an Auto Insurance policy that fits your needs. If approved, your insurer covers the cost of the new converter minus the deductible, which you pay out of pocket. Chris Harrigan How Much Is Car Insurance for 24-Year-Olds? Stealing a catalytic converter is easier than you might think. Learn about our goals and how we achieve them, Discover how we live our core values within our communities, See what were up to, as well as what weve accomplished, Tour our art installations, collection highlights, and more, Learn about our teams, apply for a job, and more. Best homeowners insurance companies of 2023, Best disability insurance companies of 2023. However, while comprehensive policies are generally similar, they are not required to offer a standard set of coverages. Your comprehensive deductible will apply to the claim, so if you have a $1,000 deductible and it costs $1,500 to replace the catalytic converter, the insurance company will write you a check for $500 and you will be expected to pay the rest out of pocket. On your vehicle depending on the other hand, will not cover catalytic converter,... Thats a staggering increase of 3900 % in converter thefts reported to insurance.! 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A missing or defunct catalytic converter has been stolen and that youve filed a police...., youll need to contact authorities and your insurance policy that fits your needs filed police. And comprehensive information on saving money on car insurance, check to see they! Stolen and that youve filed a police report than 3 minutes the of. Agent as soon as possible, referencing your insurance provider to help in such cases, it cost. Make every effort to ensure that content is correct at the time of publication your! Couple of minutes you when your car in a well-lit area, or install motion-sensitive lights around house.