The United States has seen a recent surge in thefts of catalytic converters from vehicles. That has left car owners across the country to have to deal with significant repairs and inconvenience.
Why Are Catalytic Converters Being Stolen from Vehicles?
Because of the COVID-19 pandemic, the mining of precious metals has decreased. As a result, prices for those metals have risen. Criminals who steal catalytic converters and sell the precious metals they contain can receive significant sums of money.
What Is Being Done to Address the Issue?
Numerous states have passed or are considering laws to cut down on catalytic converter thefts. Businesses have also taken steps to deal with the problem. For instance, mechanics can use rebar or catalytic converter cages to deter thieves. Some businesses that buy catalytic converters are asking more questions and demanding identification from people who come in with catalytic converters to sell.
Does Car Insurance Cover Catalytic Converter Theft?
If your auto insurance policy includes comprehensive coverage and your vehicle’s catalytic converter is stolen, your insurer will cover the cost of repairs, up to your coverage limit. You will have to pay a deductible. If the thief causes damage to other parts of your vehicle while removing the catalytic converter, your policy can also cover the costs of those repairs.
Do You Have the Right Auto Insurance Coverage?
It’s wise to review your car insurance coverage at least once a year to make sure that it still suits your needs. If your vehicle has a catalytic converter and your insurance policy doesn’t currently include comprehensive coverage, adding that protection can give you peace of mind. You may also want to modify your liability coverage or other policy terms to make sure that you have adequate levels of coverage.
If you’re not sure what types and amounts of coverage are appropriate for you, Petruzelo Insurance can help. We can discuss your lifestyle, driving habits, concerns, and budget and work with you to figure out which forms of coverage are essential and what limits are right for you.
We can also help you compare rates from several top insurance companies. Even if you shopped around when you bought your policy, your current insurer may no longer be the cheapest because insurance companies frequently change the ways they set rates. If you have your auto insurance through one company and your homeowners or life insurance through another, you may be able to save money by bundling your policies through a single carrier.
A member of the team at Petruzelo Insurance can discuss these and other issues with you and help you find the right coverage. Contact us today to learn more.