Why Are Catalytic Converters Being Stolen? While your rate could be lower when quoting with a new auto insurance company, the protection and claims service they offer may be differ Read More, Everyone knows how quickly car expenses can add up. If the car itself is stolen, however, youll have to file the claim with your auto insurance company (which should provide coverage for it if your policy has comprehensive coverage). What is a 2007 GMC Envoys life expectancy? Does this include catalytic converter theft? If your vehicle has been targeted, there are some obvious signs to look for. Thieves typically get to them by crawling underneath a parked vehicle, although they may use a portable jack . In general, the only standard insurance policy that will cover the theft of a catalytic converter is comprehensive coverage. Members save $872/year. What do all of these mean? And if you dont already have comprehensive coverage for your vehicle, reach out to Elephant and get a quote today. Most people tend to underestimate the value of what they own, probably because its been acquired over years from a variety of sources. If you do not have comprehensive physical damage coverage, you should still notify us of any stolen vehicles immediately. Its been a mandatory part of all gas-powered cars since the 1975 model year, and its located between the engine and the muffler on the underside of the vehicle. Does Homeowners Insurance Cover Termite Damage. Keep track of what sort of information you post online, and ensure your home address or phone number arent publicly available. Is Catalytic Converter Theft Covered by Insurance? It can also pay your legal expenses if someone sues you. , which allows an experienced thief to slip under the vehicle, cut it away, and sneak off with it to make a quick buck. If someone walks off with your laptop or sound system, your policy can help cover the cost to go out and buy a new one. Editorial Note: The content of this article is based on the authors opinions and recommendations alone. And what does renters insurance cover you for in the first place? Unfortunately, theyre not covered under your policy. The average cost to replace a Subarus catalytic converter can range from, Your catalytic converter replacement cost will depend on different factors, like labor costs where you live, and which Subaru model you drive. Most insurance policies provide coverage for personal property on an actual cash value basis. If your Toyota has considerable. Last but not least, youll need to think about your deductible. Thieves often target them because they contain valuable heavy metals. Why are thieves stealing catalytic converters? Catalytic converter theft. Does renters insurance cover theft by my roommate? Jerry automatically shops for your insurance before every renewal. Click here for a full run-down. . 1) Etch your license plate number onto your catalytic converter. First off, your and your friends stuff would be covered, provided they dont have a policy of their own. I have a Mini Cooper as a rental car for the next week, and theres a whole bunch of stuff in the Bluetooth menu from previous users. Your personal items are protected even if they are stolen from outside of the house. From 2019 to 2020, the National Insurance Crime Bureau reported that catalytic converter theft claims rose by, The other factor that makes catalytic converters so vulnerable to theft is their. Your personal belongings are even covered from theft while youre abroad! An annual cost of $100 to $300 ($8 to $25 a month) can insure your vehicle in the case of theft or damage from someone trying to steal your catalytic converter. Never worry about your personal property. Since then, thefts have accelerated dramatically3,389 in 2019, 14,433 in 2020, and a whopping 52,206 in 2021. According to a CARFAX study, the following Toyota models are the most prone to catalytic converter theft: Not only are the Camry and Tacoma two of Toyotas five best-selling vehicles but, their large engines and vulnerability also make them top targets for catalytic converter theft, . However, these items would likely be covered by a homeowners or renters insurance policy. Aside from this thievery, Sydnor has a warning for Colorado drivers about their insurance coverage. Redpoint County Mutual is not an Elephant Insurance company. Does renters insurance cover stolen laundry? If your backpack is stolen while youre in the street or on the bus, youre covered. Car insurance can help cover the cost of replacing a stolen catalytic converterbut only if you have the right kind of coverage. Now Im saving $108/month. Kiyoshi A. There are a few more exemptions you should note: If you check your luggage on an airline, and theyre stolen in their possession, your renters insurance policy wont cover you because your item was in the possession of a third party. values of these rare metals have exploded, , and catalytic converter theft rates have followed suit. The Toyota Camry is one of the top targets for catalytic converter theft in the United Statesand other popular models, like the Toyota Prius and Toyota Tacoma, are also very vulnerable. In order to cover this incident, your insurer will need to make sure its a criminal matter, rather than a civil dispute. Catalytic converter theftand the best ways to prevent it, is an important part of your Subarus exhaust system that helps reduce the amount of harmful substances that get released into the environment. Because the catalytic converter is part of the vehicle that's permanently installed, its theft and catalytic converter replacement will be covered under the vehicle's comprehensive coverage. That way, you wont have any creepy unplanned visits from old tenants or be vulnerable to burglary. The cost may be higher due to labor costs, and it could cost substantially more if theres additional damage to surrounding areas. "Be sure that they know what their insurance . Before 1974, cars didn't have catalytic converters installed. However, you may be surprised to know that your items are usually covered wherever they are, as long as youre the responsible party at the time the items are taken. Renters insurance covers problems like theft, damage to your belongings from problems such as fire, and injuries to visitors. The research revealed that car owners could even be at risk of having their car written off entirely as the price of replacing the catalytic converter could be higher than their car's value. No Subaru is completely immune to catalytic converter theft, with the most targeted vehicles including the Outback and the Forester. Why? Ouch. If you have a vehicle at high risk for a catalytic converter theft, you might consider lowering your deductible amount depending on your budget. Also, get to know your neighbors, and who comes in and out of the building regularly. Renters insurance covers your personal belongings, so if someone steals any of those items, you can file a renters insurance . Does renters insurance cover theft of other peoples belongings? According to the National Insurance Crime Bureau (NICB), stolen car parts and more specifically, catalytic converter theft is on the rise. These metals can be melted down and sold for, , while an intact catalytic converter can be resold for as much as, Another reason these parts are stolen so frequently is that, it is one of the easiest parts to detach from a vehicle, . can be devastating. In general, a renters insurance policy offers broad coverage at a low cost. Getting renters insurance is just good sense and covers you for more incidences than just theft. Once you know what type of payout you prefer, youll need to do a good valuation of your possessions. If there are any unfamiliar faces lurking around, you might want to inform the authorities. A motion-activated light can be a quick, simple solution, but a camera system could help you identify a thief and recover your stolen catalytic converter., While a full coverage insurance policy wont, the theft of your catalytic converter, you can. Our claims representatives are available 24-hours a day, 7 days a week to help you. Your insurer would pay you $500. The jetsetters guide to a stress-free trip. ). Having one or more of the following security devices can qualify you for a car insurance discount. Most policies will replace stolen cash, but theyll place a specific limit on cash coverage because its so difficult to prove that you had the cash at the time of the theft, so its wise to limit the amount of cash you carry or store in your rental. Matts first car was a 2001 Nissan Pathfinder that he drove until the wheels didin factfall off. Average cost to replace catalytic converter. Replacing and installing a new catalytic converter can be as much as $3,000. Youll also have to pay for installation, unless you plan on tackling the complicated process yourself. Palladium alone sells for nearly $2,500 an ounce. If your personal items are damaged in a covered event, the insurance company will reimburse you for the cost of repairing or replacing those itemswith some restrictions. A locked garage will always be the best defense, but motion-activated lights and populated areas can be strong deterrents if you have to park your Toyota on the street or in a lot. Other methods for theft prevention will help, too. Why now? that its missing right away, making it more difficult to collect evidence and track it down. No spam calls. Invest in a cat shield or another anti-theft device. Solved! I know it doesnt really matter to me personally, but I hate clutter! All a burglar has to do is crawl under a vehicle with a reciprocating saw and slice the converter free from the undercarriage. . Catalytic converter theft is widespread and affects many car makes and models. However, if you have comprehensive insurance coverage, the theft of a catalytic converter will be covered by your policy. Yes! So in all likelihood, your policy covers theft. Your next call should be to your insurance agent to figure out if catalytic converter theft is covered by your insurance package. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. The Minnesota Department of Commerce offers rewarding career opportunities in public service where you can make a positive difference for Minnesota. But what really makes catalytic converters an appealing target is how easy they are to steal. Expert advice from Bob Vila, the most trusted name in home improvement, home remodeling, home repair, and DIY. Members save $872/year. If you live in an area with no emissions requirements, you may wish to forgo repairs, but be aware that the exhaust will be substantially more toxic than regular exhaust. Save my name, email, and website in this browser for the next time I comment. 6.42 million property theft cases in the US. If you cant park your car in a closed garage, make sure you leave it in a well-lit, highly-visible location. If this is the case, it will reject your claim. I want to try it out on my car, but Ive never used one before. amount out of your own pocket before your coverage kicks in. Video Answer, are catalytic converters covered by insurance, car insurance cover catalytic converter theft, catalytic converter theft insurance claim, catalytic converter theft national insurance, does insurance cover catalytic converter theft, Does spray painting catalytic converter prevent theft, Would you know if your catalytic converter is bad, Would there be a problem removing catalytic converter, Would the fuel injectors cause the catalytic converter to fail, Would the catalytic converter make 2002 buick regal hesitates, Would replacing my catalytic converter also fix my faulty transmission. You will know your catalytic converter is has been stolen if you smell carbon monoxide, you hear a roaring sound or a loud rumbling while driving your vehicle, sounds coming from your exhaust pipe, your car drives rougher, your check engine light is on, there are smoke fumes in the main cabin of the car or there is a noticeable reduction in low-end torque (or a noticeable difference in the cars handling when you change speed). But why would a catalytic converter be so tempting for a car thief? You may need to add extra coverage endorsements specifically to cover those items beyond the basic policy maximums. Renters insurance is purchased annually. Replacing the catalytic converter can cost between $1,500 and $5,000, according to the National Insurance Crime Bureau. Why do you need renters insurance, you ask? When you start the car, it may be much louder than usual because a stolen catalytic converter will disconnect the muffler. Have more questions about renters insurance? The NICB reports a tenfold increase in catalytic converter thefts in the last three years alone. According to the National Insurance Crime Bureau, there were 1,298 catalytic converter thefts reported in 2018. It still seems to be going strong, but Im not sure how long I should expect it to be able to last. Theft is usually deemed out of your control, so it is a covered event in nearly every policy. Palladium alone sells for nearly $2,500 an ounce. It all depends on your policy. Because it filters exhaust and emissions, it doesnt really impact your vehicles actual driving capabilities. Why are people stealing catalytic converters? Coverage for rare and expensive items is usually capped at several thousand dollars, but you can purchase additional coverage for . Comprehensive coverage will cover the costs of replacing a stolen catalytic converter and any damages the theft incurred. Does renters insurance cover car theft? Landlords carry policies to protect themselves against financial loss as a result of structural damage or disaster. In 2021, the Minnesota Legislature created the catalytic converter theft prevention pilot program ( Minn. Stat. Catalytic converter thefts are rising. Is there a specific type of catalytic converter theft insurance? What should I do if my vehicles catalytic converter is stolen? Naturally, other Subaru SUVs with high ride heights, like the Crosstrek, Ascent, and Solterra, can also run into this issue. Upgrade Your Garage with This Family Handyman Approved DeWalt Socket Wrench Set, Family Handyman Approved: Sea Foam Motor Treatment, Do not Sell or Share My Personal Information. Subaru vehicles arent the most targeted vehicles, when it comes to catalytic converter theft, they certainly arent immune. Your insurer will let you choose from several preset levels of coverage. To start, your policy will pay to replace anything that is damaged or lost in a covered event. There are special limits on the amount insurance will pay for certain types of personal property. You can make a list, use an app, or just walk slowly around your home taking a video of everything in your apartment. In other words, its a good idea to do some homework to make sure the payout will be what you need to repair or replace your items. There are two considerations when youre deciding how much coverage you need, because its not just how muchits what kind. You can also find Cats on forklift trucks and kerosene heaters and stoves. Once youve determined the types of theft your policy covers, youll need to consider how much insurance you have, because every policy has a deductible that you pay before the insurance kicks in and a maximum payout. These include ignition cut-offs and car alarms. Is catalytic converter theft covered by insurance? 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