Heres why catalytic converters are being stolen, what makes them so attractive to car thieves, and what you can do to prevent your vehicles from going missing. Here are what. If you're a victim of theft, and your claim is covered, your renters insurance company typically pays you the actual cash value (ACV) of the stolen item. This means that vehicles with a liability-only policy cannot be covered for any type of theft or vandalism. Does Renters Insurance Cover Theft? Catalytic converter theft is covered under your comprehensive coverage.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.. Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. Stolen catalytic converters are mostly stolen and sold for scrap as . Now Im saving $108/month. Kiyoshi A. Articles may contain affiliate links which enable us to share in the revenue of any purchases made. Our mission is to protect the public interest, advocate for Minnesota consumers, ensure a strong, competitive and fair marketplace, strengthen the state's economic future; and serve as a trusted public resource for consumers and businesses. Your renters insurance will cover most of your stuff for theft both inside and outside your home, including electronic items, furniture, clothing, and jewelry. If you start your car and hear a low, loud rumble, one of the first things you should check is whether your catalytic converter has been stolen. It consists of a ceramic honeycomb coated in metals (typically platinum, rhodium, and palladium . Toyota vehicles of all kinds have become known as sitting ducks for catalytic converter theft due to their ease of access. Does Car Insurance Cover Catalytic Converter Theft? If youre in a rush, feel free to check out our brief summary below. I checked with insurance re: coverage if stolen - I would pay a $500 . Inside of every catalytic converter, there are rare metals (palladium, rhodium and platinum) that are used as catalysts to create the chemical reaction that converts harmful gases into safer substances. According to the National Insurance Crime Bureau, there were 1,298 catalytic converter thefts reported in 2018. Jerry automatically shops for your insurance before every renewal. However, if you have comprehensive insurance coverage, the theft of a catalytic converter will be covered by your policy. Lets be honest, life aint a piece of cake. Catalytic converter theft is on the rise and to a shocking degree. The price will vary depending on the make and model of the vehicle. Renters insurance, like homeowners insurance, is inclusive. In the coming years, she's pretty excited about having more electric vehicle options to choose from. Your deductible is the amount of money youll have to pay out of your pocket toward the replacement of your items before the insurance company will begin to reimburse you. Solved! If someone breaks into your apartment and steals your TV and electronics, youll be covered, barring certain exceptions. Thieves often target them because they contain valuable heavy metals. If your catalytic converter is stolen, you should contact your local police department and file an official report. It would be a huge financial risk, however, for landlords to be financially responsible for the personal possessions of all their tenants, so many require that tenants carry their own coverage. They are then sold for a few hundred dollars to scrap recyclers. One of the best things about renters insurance is that youre also covered for theft outside of your home. However, if you're driving a car built after 1974, you need to know the risk of catalytic converter theft. Or a friend popping in to visit? Whether your car insurance will cover your Subarus catalytic converter theft depends on, If you want coverage to help you pay for a catalytic converter replacement, youll need to have. It sure does! That means, if you originally bought headphones for $300 and the current retail price for the same make and model is $250, thatd be your replacement cost. Truth is, having your catalytic converter stolen is one of the most frustrating experiences a car owner can go through. What is renters insurance coverage? It depends. Catalytic converters are the part of a vehicles exhaust system that helps lower emissions and reduce the negative impact automobile traffic has on the environment. Statistics from the National Insurance Crime Bureau (NICB) show that catalytic converter theft has been steadily increasing for quite some time, and in recent years. In general, the only standard insurance policy that will cover the theft of a catalytic converter is comprehensive coverage. Common issues with the 2019 Murano involve the vehicles forward collision warning, its speed control, and its airbags. We recommend our users to update the browser. However, these items would likely be covered by a homeowners or renters insurance policy. Your renters insurance policy can help alleviate some serious anxiety when it comes to theft it insures your phone on the subway and your laptop at the coffee shop. Stolen catalytic converters are mostly stolen and sold for scrap as . The technology wasnt as refined for older cars, so their catalytic converters can have more metals than newer ones. BTW, in case you were wondering about states with the highest theft rates, according to Statista Texas is leading the list with 946,717 property crime rates in 2021, followed by Washington, North Carolina, and Colorado. Plus, having a police report on file can also be helpful for the driver if they need to, How to file an insurance claim with no police report, "A super easy app for great savings. Their theft chances are more in hybrid cars because they are in . Theft is a personal crime that can be very stressful and overwhelming, especially if its achieved during a break-in into your personal space. The cost may be higher due to labor costs, and it could cost substantially more if theres additional damage to surrounding areas. While the car is still technically drivable, it may not be functioning properly. Catalytic Converter Thefts Have Skyrocketed Since 2019. Finally, it would be best to have your car serviced by a professional. Places that are under construction carry a much higher risk of something happening to your stuff, and are therefore excluded from your coverage. There are many ways to reduce the likelihood of a theft, one of which is keeping track of what sort of information you post online to ensure your home address or phone number arent publicly available. For each coverage type discussed above (personal property, personal liability, loss of use, etc. Basic car insurance, otherwise known as liability coverage, is a requirement to drive on U.S . 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. : When a vehicles undercarriage is raised above the ground, its even easier to access its catalytic converter. When does renters insurance cover theft? 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. Renters insurance can cover you for more than just theft. You can make a list, use an app, or just walk slowly around your home taking a video of everything in your apartment. Be aware that it's illegal to drive without a catalytic converter, so . No fees, ever. 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. The Toyota models most targeted by catalytic converter thieves. Your bike isn't a "motor vehicle," so it's covered. Editorial Note: The content of this article is based on the authors opinions and recommendations alone. 1) Etch your license plate number onto your catalytic converter. like cat shields and locks make it more difficult for thieves to get to your catalytic converterand some providers might offer you a, Mark your cat-con with your vehicle identification number (VIN). When we added a new car to our family, we were shocked at how high our current insurer was going to hike our rates. Matt Lynaugh is an insurance writer aiming to help others navigate the ever-changing automotive landscape. How do you do this? There are a few simple steps you can do to protect your car from a catalytic converter thief: Following these simple steps will at least prevent your car from being an easy target. What about parts of the car, such as tires? . Your insurance covers the cost of replacing your catalytic converter minus your comprehensive coverage deductible. Additionally, home surveillance systems can help you collect the evidence you need to get a stolen catalytic converter back. But recently, a new type of automotive crime is on the rise: catalytic converter theft. If your jewelry was worth more than that, youll need to have something called an endorsement to add on extra coverage in order for it to be protected in scenarios like this. We've all heard stories of car break-ins where thieves target a purse, stereo system or other valuables left inside the vehicle. In addition, if your items are in the possession of someone else at the time of the theftfor example, you checked your luggage, and your luggage is stolenthe insurer might refuse to reimburse you, as it would argue that the company who had possession of your items at the time they were stolen was negligent and it should cover the loss. 2023 Elephant Insurance Services, LLC. All a burglar has to do is crawl under a vehicle with a reciprocating saw and slice the converter free from the undercarriage. If youre currently living with your significant other but havent made it down the aisle, youll need to add bae as an additional insured on your policy, which costs just a few extra bucks a month. Also, get to know your neighbors, and who comes in and out of the building regularly. Otherwise, your renters insurance can cover you, but there are a few things youll need to do. Renters insurance covers problems like theft, damage to your belongings from problems such as fire, and injuries to visitors. Products, prices and discounts may vary by state and eligibility requirements. Some insurers may not cover this damage because it was not caused by an accident. Just keep in mind youll have to pay your policys. By 2020, however, catalytic converter thefts hit a new record at 1,203 per month. Plus, catalytic converters dont carry any sort of identification number, so its pretty much impossible to identify them as stolen property. Catalytic converters are key vehicle components located on the bottom of the body, making them relatively easy to steal. An epidemic of catalytic converter theft, largely from hybrid petrol/electric cars, is now becoming a major insurance headache for their owners. According to Advanced Auto Parts, replacement catalytic converters can cost thousands depending on the quality of the converter and your vehicle type. If your insurer decides you were responsible for the theft due to negligence, they might decide not to approve your claim. 5 ways to protect against catalytic converter theft. Members save $872/year. If your purse, golf clubs, or other items are stolen from the car, your insurance company will likely cover them. Catalytic converter theft is on the . Mechanically speaking, yes, you can drive without a catalytic converter. Because your policy is attached to your rented space, theft of personal items from your home is covered. Why are thieves stealing catalytic converters? Now lets dig into a practical example of when theft would and wouldnt be covered by your renters insurance company: Lets say you go out for a movie with a friend, and come home to find that a burglar broke into your place and stole your TV, computer, sound system, a bunch of expensive jewelry, and your friends backpack which had a laptop and headphones inside. Where is the 2019 Honda Civic OBD port location? How to protect your Subaru catalytic converter from theft. Why Are Catalytic Converters Being Stolen? When thats not possible, parking in well-lit areas where it would be harder for thieves to go unnoticed can help you reduce your risk. Comprehensive coverage pays for catalytic converter theft. - Quora. But why would a catalytic converter be so tempting for a car thief? But what really makes catalytic converters an appealing target is how easy they are to steal. What cars are most likely to be stolen for catalytic converters? Land Rover Range Rover Evoque Pure Plus Insurance Cost, Mitsubishi Lancer Evolution Rs Insurance Cost. 2. like palladium, platinum, and rhodium to convert exhaust pollutants into less harmful substances, like nitrogen and oxygen. You can talk to your insurance agent and go over the . Jerry automatically shops for your insurance before every renewal. Install an anti-theft device on your catalytic converter. It all depends on your policy. Were more likely to be lax about security when its someone elses property, but its good sense to never let anyone into your home unless youve been told first by your landlord, or if they have an official badge that checks out. Thank you, Jerry! Darius P. It depends on the model, but the cost to replace a catalytic converter ranges from around $1,200 all the way up to nearly $4,000. Your personal items are protected even if they are stolen from outside of the house. With the recent rash of cars being stripped of salable parts while parked in lots or driveways, these are reasonable questions. In 2021, the Minnesota Legislature created the catalytic converter theft prevention pilot program ( Minn. Stat. Less harmful substances, like homeowners insurance, is inclusive its speed control, and palladium impossible identify! Vary depending on the make and model of the most frustrating experiences a owner! 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