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Catalytic converter theft has gone from “nuisance-level” in past years, to an epidemic impacting dozen of public and private sector organizations in our state. While physical damage coverage may help offset some of the direct repair costs, the financial impact from deductible payments and vehicle downtime is a problem. USI Insurance Services believes simple measures can keep you on top of this important risk exposure. The information below will educate you on causation and preventative strategies to avoid these potential catastrophes.
What’s the risk and why is this happening?* Catalytic converters contain valuable metals which can be sold quickly in used auto part markets.* Catalytic converters are easily stolen from especially older vehicles, and often in lots not under surveillance or where theft/vandalism prevention controls exist.
Preventative Strategies:* Move vehicles where practicable from remote lot locations near trees/forest, closer to more lighted areas.* Review if video monitoring is used, and if so, post signs in visible places indicating monitoring is taking place.* Use lighting in storage/parking lots and replace burnt bulbs.* Work with law enforcement to periodically scan lots, and work with local auto parts & scrap yards to communicate not taking or accepting used catalytic converters. * Weld the catalytic converter to the auto frame, if practicable.* Use locking converter devices, if practicable.* Etch a custom serial # onto the converter and put a sticker on the windshield indicating a serial # is used and tracked.