![]() Comprehensive insurance covers events like theft and weather damage, but many people who have older, less valuable cars don’t carry it because the premium isn’t worth the potential payout if something goes awry. NICB says insurance policies can cover replacement of a stolen catalytic converter, but only if there’s a comprehensive policy in place. Statistics can help legislators pass laws that make it tougher for thieves to sell stolen parts. Report theft: Even if you drive an older car and it doesn’t seem worth it, alert local law enforcement and your insurer if your catalytic converter does get stolen. If you’re parking on the street, try to pick a well-lit one with plenty of traffic. If you’re parking in a driveway, consider installing motion sensor lights. ![]() Secure parking: Park overnight in a locked garage, or in a well-lit, enclosed lot if you can. Anti-theft solutions can be pricey, but they often cost less than a new catalytic converter. Talk with a trusted mechanic to see what they recommend for your vehicle. Alarms-both full vehicle systems and special converter-specific ones-also can be effective deterrents. ![]() But for people worried about getting ripped off now, NICB says there are some steps that can be taken to protect your car.Īnti-theft devices: Catalytic converter anti-theft devices are available from various manufacturers and range from steel plates protecting the underside of the vehicle to cages made from steel cables that are meant to discourage thieves from stealing a converter by making removal more time-consuming, which in turn increases the thief’s exposure to getting caught. A number of other states have proposed legislation. Some states-including the Carolinas, Indiana, and Texas-have passed laws requiring scrap metal dealers to ask for vehicle titles or other documentation before they’ll buy used catalytic converters. (There are just over 28 grams in 1 ounce.) According to a recent article in Waste Advantage magazine, a typical catalytic converter contains 3 to 7 grams of platinum, 2 to 7 grams of palladium, and 1 to 2 grams of rhodium. ![]() Scrapped converters can then be processed to remove the precious metals, which is what makes them so valuable to scrap metal dealers and thieves. According to Kitco, a website that tracks precious metals trends, the current price for an ounce of platinum is $1,000, while palladium costs more than $2,300, and rhodium-which is extremely rare-costs more than $20,000.Īssuming a thief can access the underside of a vehicle, converters are easy to remove with battery-operated power tools, or in some cases, even simple hand tools. Prices for the three metals have spiked over the past few years. Catalytic converters contain platinum, palladium, and rhodium-expensive precious metals that react with exhaust gasses, heat up a ceramic honeycomb element, and convert harmful combustion byproducts, such as nitrogen oxide and carbon monoxide, into less harmful gasses. ![]()
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