Catalytic Converter Theft Insurance: Are You Covered?

The Growing Problem of Catalytic Converter Theft

Although catalytic converter theft was down overall in 2023, it’s still a big problem — just ask the 26,000 people whose cars were targeted. Because they contain precious metals that sell on the black market, converters mean big money for thieves. According to the U.S. attorney’s office, “Some of these precious metals are more valuable per ounce than gold, and their value has been increasing in recent years…The black-market price for catalytic converters can be above $1,000 each.”

For anyone who has parked their car only to return to find it bust, the experience is enraging and the fix expensive — especially if you have to pay out-of-pocket. The replacement parts can cost thousands of dollars, and that doesn’t account for labor, towing the vehicle, and any other damages incurred. 

And while a car technically can still run after the catalytic converter is stolen, you shouldn’t drive it because 1) it’s loud and 2) the vehicle will emit harmful gasses that pollute our planet. Oh, and, 3) doing so will damage the rest of the engine. 

But let’s go deeper into the ins and outs of catalytic theft and car insurance coverage, so you can make the optimal insurance decisions for your situation. 

Does Insurance Cover Catalytic Converter Theft?

Unfortunately, all we can say here is: sometimes. Minimum insurance requirements in most states don’t include coverage for catalytic converter theft. Most standard policies include collision coverage, which means that in the event of an auto accident, your insurance will provide protection. However, other issues — like falling tree limbs or vandalism — aren’t covered. 

But here’s the good news: with comprehensive coverage or specific endorsements, you can get protection against catalytic converter theft. Comprehensive coverage is pretty standard for most car owners, so chances are good that you have this type of policy. But as with anything, it’s all in the details — so be sure to read the fine print. 

If you aren’t covered or don’t have a comprehensive policy, you may want to purchase a rider (also known as an endorsement). These tend to be cheaper and allow you to pay to cover catalytic converter theft specifically.

And what should you expect to pay for this type of coverage? Well, everything depends on your budget and circumstances. The vehicle’s age and value will likely impact the cost of the policy, so you’ll need to weigh whether it’s worth insuring your banger or if you’d rather take the risk. 

Filing a Claim for Catalytic Converter Theft

If you do find yourself a victim of the Converter Burglars™, you’ll want to file a claim — assuming you have the right insurance, that is! Here’s how to go about that:

1. File a report: Police can check for security cameras, follow up with witnesses, and lookout for the missing parts. Plus, you’ll likely need this report to make your claim with your insurance provider. 
2. Contact your insurance: Call your provider or file a claim online. This process can be complex. And of course, a friendly reminder to report the incident accurately and factually. 
3. Be patient: It can take time for a claim to be processed. Don’t sweat it, but do check back in every few days.

Keep Your Car Safe 

In addition to finding the right insurance policy, there are other ways you can safeguard your car against theft. For one thing, thieves often target specific types of vehicles, and they seek out optimal situations. Here are some expert tips to keep your car from being singled out:

• Be extra aware if you own an SUV or a pickup: For these types of cars, the converter is between the engine and the muffler, so it’s not particularly easy to reach. But since SUVs and trucks are higher off the ground, it’s easier for someone to shimmy underneath and snatch the converter.  
• Park in well-lit areas: Beyond general safety, lighted lots deter theft. 
• Install an anti-theft device: There are plenty of products out there to discourage criminals and protect your car. ‍
• Invest in alarms: If you generally park in one dedicated area, it could make sense to set up an alarm system. Installing cameras and noise makers also go a long way toward deterring theft. ‍
• Rely on the VIN number: Etching the VIN number into the catalytic converter makes it easier to track a theft, which, in turn, makes stealing the converter less attractive in the first place. ‍
• Know your vehicles: Some cars are more enticing than others. So before you buy, do your research.

Taking these precautions won’t guarantee that thieves pass over your car, but still! All steps you take can help to keep criminals at bay. 

Protect Your Vehicle With Marble

Paying out of pocket to replace your catalytic converter is expensive, which is why it’s a good idea to explore insurance options that will cover your vehicle. You can shop for the coverage you need with Marble, where you can compare policies and premiums, all while earning rewards. Sign up today!