Much like your muffler, converters help dampen the engine sound. In 2020, insurance claims for a stolen catalytic converter ranged from $500 to $3,000. If you seek to protect your vehicle from potential theft, vandalism, or damage to your catalytic converter, use your ZIP code in our free car insurance comparison tool to browse the comprehensive coverage available on the market. You may receive a check from your insurance company for the replacement cost, or it may send the payment directly to the shop. How Much Does Catalytic Converter Replacement Cost? It's been a mandatory part of all gas-powered cars since the 1975 model year, and it's located between the engine and the muffler on the underside of the vehicle. Steps for filing a claim with your insurance company to replace your stolen catalytic converter Contact your insurance company ASAP. Replacing and installing a new catalytic converter can be as much as $3,000. 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. It costs approximately $1,100 to $2,600 to replace a catalytic converter on an average vehicle, including parts and labor. Which is why its crucial to know what your car insurance covers. Replacing a stolen catalytic converter costs much more than what thieves get from scrap yards. We are not responsible for the content of any third-party sites linked from this page. Yes, in some cases where the cost of repairs is greater than the value of the vehicle, an insurance company may just total (or write-off) your vehicle. With identity theft becoming more common and costly, having Farmers Identity Shield may give you some peace of mind for only pennies a day. Full coverage car insurance includes liability coverage, comprehensive coverage, and collision coverage. Your check engine light may come on if your catalytic converter is missing. The cookie is used to store the user consent for the cookies in the category "Other. As long as your insurance is up to par, then you dont have to worry about the cost of repairs. Comparison shopping should be easy. You may also want to look for abrasions and other evidence of tampering. This honeycomb transforms the emissions from dangerous automotive exhaust into safer gases. If your purse, golf clubs, or other items are stolen from the car, your insurance company will likely cover them. His shop installs one by bolting a metal shield to the vehicle frame to cover the catalytic converter, which costs about $350, including installation. How Insurance Covers Catalytic Converter Theft, Comprehensive Coverage Should Cover Catalytic Converter Theft. This code holds a lot of information, including who your. Jones says an anti-theft device can help. Whats the difference between ATV vs. a dirtbike? 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. This cookie is set by GDPR Cookie Consent plugin. Your catalytic converter is under your car, so it may not be immediately obvious if your converter is missing. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provisions, limitations, or exclusions expressly stated in any insurance policy. He loves nothing more than taking something apart and putting it back together again. Save my name, email, and website in this browser for the next time I comment. Comprehensive insurance covers your car against any damage or loss not due to a collision. Explore our data-based deep dives to understand the latest trends on and off the road. If you have multiple vehicles, park the ones with lower ground clearance outside of the vehicles with higher ground clearance (like SUVs). Does homeowners insurance cover a leaking roof? It only takes a few minutes for a thief to steal a catalytic converter. If your catalytic converter has been stolen, then it may be covered by insurance. Get a personalized Health Insurance quote now. Copyright 2012-2023 Insurance Panda. Do Not Sell or Share My Personal Information (CA Residents Only). In addition, filing multiple claims could lead to an increase in your premiums later on. What Are the Best Auto Insurance Companies for Seniors? Top-selling hybrids and hybrid models that dont have a matching all-gas equivalent may be most vulnerable because theyre easier to identify. Provide as much detail as possible, referencing your insurance policy where appropriate. What Is Universal Life Insurance: A Comprehensive Guide. This coverage can be added to your policy by endorsement providing coverage for losses due to identity theft; credit and public records monitoring, and identity or travel documents replacement. Our opinions are our own. If you want confirmation that your insurance will cover your car in the event of catalytic converter theft, call them and ask directly. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company. A common indication that your catalytic converter is missing is that your car is louder than usual while driving. Policygenius content follows strict guidelines for editorial accuracy and integrity. However, no car is truly safe. An annual cost of $100 to $300 ($8 to $25 a month) can Generally, converter theft is covered under comprehensive auto insurance. The short answer to the question of 'is catalytic converter theft covered by insurance' is typically yes, provided you have full coverage or, Depending on the situation and your insurer, you may be asked to get an. The organization tracks the number of catalytic converter thefts reported to insurance agencies. Catalytic converter theft falls under theft and/or vandalism, and comprehensive coverage should cover it. Take extra precautions for cars with high ground clearance (like SUVs). If you get under your car and see that there are missing pieces, often indicated by open holes, broken pipes, or missing bolts, you are the victim of theft. Comprehensive coverage includes catalytic converter theft, which many car insurance companies offer. Comprehensive Coverage Includes Catalytic Converter Theft. Catalytic converter theft is on the rise and may continue to rise. Is long-term disability insurance worth it. If youre a recent victim of catalytic converter theft, then you might be wondering what your recourse should be. How to Update Your Drivers License After Moving to a New State. If youre unsure, then call 999. Compare Quotes From Top Companies and Save. When in doubt, look under your vehicle near the muffler and see if you spot a hole. She is a storyteller who believes in the power of words. Does my car insurance cover personal injury claims? But there may still be hope that you can get a new one without any cost to you. We do our best to ensure that this information is up-to-date and accurate. Since the catalytic converter is located at the back of the car, near the muffler, parking with the vehicles rear close to a wall will make your car harder prey. Some drivers have reported paying fines of thousands of dollars for driving without a catalytic converter. This website uses cookies to improve your experience while you navigate through the website. If you notice that your vehicle is struggling in these areas, check to see if your converter is still in place. Reviewed by However, if your motor is noisier, it is time to look for other signs. How does long-term disability insurance work? Content provided by Insurance Panda is for consumer education purposes, and is not intended to suggest any relationship with the brands or products compared herein. Thieves will target any vehicle, including buses! If you have comprehensive coverage, your insurance company will help you through the next steps in repairing or replacing your car, as needed. WebThe average excess for a car insurance theft claim is over 300 and replacement and repair costs for catalytic converters have been reported to exceed 1,200. In states like California, Texas, and Illinois, the average number of thefts per month rosefrom 652 in January 2020 to 2,347 by December of the same year. 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. Compare rates and shop affordable car insurance today. Your insurance company will cover the cost of replacing the stolen converter and any However, you should keep in mind that Collision Coverage does not cover you in the even of an auto accident involving an animal. 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. Catalytic converters reduce the impact of harmful gases created by engine emissions. 2023 Smartfinancial.com Ins LLC DBA SmartFinancial Insurance. The idea is that a thief who sees the etching moves on to an . The, Cars with a high ground clearance making access easier are also targeted, including vans and 4x4s. above and get an idea of which car insurance companies meet your needs. Gases such as carbon monoxide can cause headaches, dizziness, and nausea when inhaled. A typical comprehensive coverage deductible is $250 to $500. Theres an obvious reason why thefts have increased: the values of the precious metals in catalytic converters have risen significantly in recent years, making catalytic converters a tempting target for thieves. Our car insurance industry partnerships dont influence our content. 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. 10 Questions to Ask When Evaluating Life Insurance Options. This combination makes catalytic converters a popular target for thieves. People steal catalytic converters because they contain valuable metals like platinum, rhodium, and palladium. Looking for the best possible coverage for catalytic converter theft can be difficult, but we can make it easier. James Shaffer is a writer for InsurancePanda.com and a well-seasoned auto insurance industry veteran. How Much Is Car Insurance for 24-Year-Olds? Get a Life Insurance quote today. 2022-2023 MyCarVoice.com - Car Problems, Car Complaints, Recalls & News. You can confirm the catalytic converter theft by looking underneath the car for an obvious hole in the undercarriage near the muffler. Yes. Read our editorial standards for Answers content. Written by Is Catalytic Converter Theft Covered by Insurance? In general, comprehensive insurance coverage protects against damage to your vehicle caused by non-collision events. Car insurer Admiral said the. Our fact-checked articles are intended to educate insurance shoppers so they can make the right buying decisions. When hes not at the local autocross event, he can often be found working on one of his cars. Of course, your definitive source of answers should be from your direct insurance provider. 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. Licensed Agent for 15 Years. Weve researched ways to help keep your car safefrom this type of theft. If a hole and evidence of tampering are present, your catalytic converter is likely missing. Assurances license information can be foundhere. Final Expense Life Insurance Explained: Is It The Right Choice For You? There are some available for as little as $300-$400, but those often dont work at all and, when they do, they wear out very quickly. 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