Now that you know what a catalytic converter is, what it does, and how to tell if yours has been stolen, you can evaluate your risks and decide if comprehensive coverage is right for you. Copyright Ocean Finance 2001-2023. Catalytic converter thefts have increased to record highs in recent years. Rhodium . Does car insurance cover catalytic converter theft? Why Do People Steal Catalytic Converters? Because, until you hit the deductible amount, you and only you are responsible for covering repair costs on your vehicle. Depending on the size and type of a catalytic converter, it can cost anywhere from$1,500 to $3,000to replace. Which is why its crucial to know what your car insurance covers. Your insurance company then reviews your claim and approves or denies it. 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. Will My Insurance Premiums Rise After a Catalytic Converter Insurance Claims? A little prep goes a long way. If you dont have comprehensive insurance, youll need to pay for the repair out-of-pocket. Compare quotes from several insurance carriers to ensure that you get the best deal on your auto insurance overall. Any gas-powered car made after 1975 can be a target, but the top vehicles for catalytic converter theft tend to be older cars because they have a larger amount of valuable metals in their catalytic converters. Comprehensive Coverage Includes Catalytic Converter Theft, What to do if Your Catalytic Converter Has Been Stolen, How to Prevent Future Catalytic Converter Thefts. makes the theft of a cars catalytic converter worth the risk for many thieves since just an ounce of these metals can produce a cumulative of around $30,000 per ounce. Do Not Sell or Share My Personal Information (CA Residents Only). Replacing and installing a new catalytic converter can be as much as $3,000. Then we will figure out what it takes for your insurance provider to help in such cases. Catalytic converters convert exhaust into less harmful gases and any vehicle made after 1974 must have one installed. But as well as the cost of replacing the converter you may have to fix any damage done to your car during the theft. We don't sell your information to third parties. Catalytic converters mounted under vehicles are usually easy to access and remove using power or even hand tools. or Shop Around for Comprehensive Car Insurance To Protect Yourself. You may hear sputtering noises, smell exhaust and notice spotty acceleration that may indicate that something is wrong. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. (Bellevue, WA) or affiliates. 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. Few people check their catalytic converter before starting their vehicle. Depending on how the catalytic converter was removed from your car, there may be other damages that were caused by the theft that need to be included in your quote. The United States has required catalytic converters on all gas-powered vehicles since 1975. What Is CarMaxs Gap Insurance? Its against the law to remove the catalytic converter from your vehicle in every state. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. It costs approximately $1,100 to $2,600 to replace a catalytic converter on an average vehicle, including parts and labor. 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. What does full coverage car insurance include. In TX: insurance is underwritten by Farmers Insurance Exchange, Fire Insurance Exchange, Truck Insurance Exchange, Mid-Century Insurance Company, Farmers Texas County Mutual Insurance . All rights reserved. Get a personalized Health Insurance quote now. Drivers who do not have comprehensive insurance will not be covered for any type of car theft and will have to pay for a replacement themselves. Although all catalytic converters are valuable to thieves, they target some car makes and modelsmore than others. Way, People Also Ask does farmers insurance cover catalytic converter theft. The large hole of a missing catalytic converter will contribute to both the noise and the smell. Policygenius content follows strict guidelines for editorial accuracy and integrity. Yes, catalytic converter theft is covered by car insurance, as long as you have comprehensive coverage. If you have comprehensive coverage on your auto insurance policy, then you're typically covered against catalytic converter theft. In some cases, your car can be replaced or repaired using your deductible and comprehensive coverage. Learn about our editorial standards and how we make money. His shop installs one by bolting a metal shield to the vehicle frame to cover the catalytic converter, which costs about $350, including installation. Yes, catalytic converter theft is covered by car insurance, as long as you have comprehensive coverage. If you start your car and notice that it sounds significantly louder than usual, check under your vehicle to see if anything is obviously missing. Is a stolen catalytic converter covered by insurance. Catalytic Converter Theft - Full Coverage Car Insurance. In some cases, your insurance may cover this cost if you have the right coverage type. 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. You can confirm the catalytic converter theft by looking underneath the car for an obvious hole in the undercarriage near the muffler. You may receive a check from your insurance company for the replacement cost, or it may send the payment directly to the shop. 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. Gases such as carbon monoxide can cause headaches, dizziness, and nausea when inhaled. Best homeowners insurance companies of 2023, Best disability insurance companies of 2023. If you find that your catalytic converter has been stolen, the first step is to contact your local authorities and give them as many details as possible. In short, if your catalytic converter is stolen, youll likely be covered under comprehensive auto insurance but not collision insurance. In addition, filing multiple claims could lead to an increase in your premiums later on. How to Update Your Drivers License After Moving to a New State. 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. 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. Catch what's new from Progressive online, on TV, and on the road. If you discover your catalytic converter is missing, take your car to a repair shop and have it replaced as soon as possible. Some of the signs of a stolen catalytic converter include: You may also notice missing parts under your vehicle after catalytic converter theft. And if the claimisfor more than your cars worth then the insurance company will write it off. CarInsuranceCompanies.com was created to provide an online resource for drivers to learn car insurance, find car insurance companies, read reviews of car insurance providers and get fast online auto insurance quotes without being subject to the pressure of stereotypical insurance agent. SmartFinancial Offers Unbiased, Fact-based Information. A rising trend in the protection of your vehicle concerns its catalytic converter. So knowing how you can protect your vehicle can be key. Catalytic converters contain valuable components like platinum, palladium, and rhodium. 10 Questions to Ask When Evaluating Life Insurance Options. Our goal is to be an objective, third-party resource for everything auto insurance related. with Insurance Panda. Cars with a high ground clearance making access easier are also targeted, including vans and 4x4s. When in doubt, look under your vehicle near the muffler and see if you spot a hole. Covered incidents include vandalism, damage from falling trees or objects, weather damage, and theft. A stolen catalytic converter sold to a scrap yard can sell for $25 to $500, according to a 2021 report by the Congressional Research Service.if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[300,250],'mycarvoice_com-large-mobile-banner-1','ezslot_12',608,'0','0'])};__ez_fad_position('div-gpt-ad-mycarvoice_com-large-mobile-banner-1-0'); Yes, you should contact your local police department immediately. Weve researched ways to help keep your car safefrom this type of theft. A bonus with installing an alarm is that some insurance companies may offer a. Insurance doesn't have to be complicated. Your insurance company can explain the next steps to take like visiting a local repair shop and paying your deductible. There are steps you can take to protect your vehicle from catalytic converter theft. Thieves then sell it to a scrap metal yard, which will then sell it to someone else who can remove and recycle the precious metals. Catalytic converter theft is on the rise and may continue to rise. The number of catalytic converter thefts in the United Statesjumped from around 3,000 to nearly 14,500 over a single year. Newer cars, however, can have metals in better condition because the converters haven't been subjected to as much wear and tear. These policies will cover you if your Full coverage car insurance includes liability coverage, comprehensive coverage, and collision coverage. Please note that information published on this website does not constitute financial advice, and we arent responsible for the content of any external sites. Your car makes a sputtering sound when you change speeds, Your car doesnt feel like its driving smoothly, There is an increase in exhaust smells or visible exhaust emissions from your vehicle, Theres a load roar when you start your vehicle, and that roar gets louder as you accelerate, Your vehicle displays a check engine light or other warnings. Get an alarm: A car alarm that responds to vibrations can let you know if someone is trying to steal your catalytic converter. New catalytic converters can be extremely costly for the same reason. 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. If you cant do that, try to park in a well-lit area or an area with surveillance cameras. You could be charged with heavy penalties and fines due to environmental protection laws if you are caught driving a car without one. Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. If you notice that your car exhaust is now black or brown, it may indicate that your catalytic converter is missing. This vital component was added to vehicle manufacturing in the 1970s and has become a mandatory part of the automobile industry. Our opinions are our own. Replacing a stolen catalytic converter costs much more than what thieves get from scrap yards. Since the catalytic converter is located under your car, you may not notice it visually, but there are tell-tale signs that it is gone. If your vehicle has had multiple replacements of catalytic converters or is an older vehicle, your insurance may not fix it and opt to give you the value of the car instead. Catalytic converters are an essential element to your car's exhaust system that minimizes dangerous emissions to make your vehicle more environmentally friendly and less pollutant. SmartFinancial Insurance is a digital insurance Ford Check Engine Light. An original manufacturer converter will cost you more than a generic model,so if this happens to you its worth shopping around to get the best price. 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. Required fields are marked *. An annual cost of $100 to $300 ($8 to $25 a month) can All insurance rates, products, and services are presented without warranty and guarantee. But as well as the cost of replacing the converter you may have to fix any damage done to your car during the theft. 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. Your car insurance policy may cover catalytic converter theft if you purchased comprehensive coverage for your car. 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! These cookies will be stored in your browser only with your consent. The way that the converter is installed can also make a difference. Catalytic converters contain precious metals palladium, platinum and rhodium that scrap metal dealers can extract and resell. He previously managed auto insurance claims for Enterprise Rent-A-Car. These components have always had value, but rising rates in recent years have made them particularly valuable. A typical engine will not draw too much attention. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. Disclaimer: CarInsuranceCompanies.com strives to present the most up-to-date and comprehensive information on saving money on car insurance possible. Questions about this page? 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. Generally, this coverage has an approximate annual cost of $100 $300. Can a car run without a catalytic converter? Comprehensive car insurance has considerable advantages for those with specific concerns about theft and vandalism. Some of the best tips for preventing catalytic converter theft include: Insurance covers catalytic converter theft if you have comprehensive coverage. Consider calling a tow truck because driving without the converter can be hazardous. Rachael Brennan How Credit Affects Auto Insurance: A Study, Presidents Day 2023 Car Deals & How To Save on Insurance, Road Rage and Aggressive Driving in the U.S: A Study. If you notice that your vehicle is struggling in these areas, check to see if your converter is still in place. Get easy explanations for all your questions. Thieves often target them because they contain valuable heavy metals. Catalytic converter theft falls under theft and/or vandalism, and comprehensive coverage should cover it. The cookie is used to store the user consent for the cookies in the category "Analytics". The cost of comprehensive coverage varies depending on the company used and the state of residence. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Christa Ehrler is a wordsmith, copywriter, and traveler with over seven years of digital publishing experience. Instead, you should be able to make a claim and continue to pay the same rates for car insurance. 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. Call your insurance agent. Some automakers install the converter with bolts while others weld it in place. These cookies track visitors across websites and collect information to provide customized ads. Collision insurance, on the other hand, will not cover catalytic converter theft. Some examples include electric cars, cars made before 1974, diesel catalytic converters, Subaru, Ford, Hyundai, Dodge, Mazda, Nissan sedans and minivans. Provide as much detail as possible, referencing your insurance policy where appropriate. As such, more and more precious metals have been incorporated into the creation of catalytic converters, leaving thieves more inclined to steal them. 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