Allstate reported that catalytic converter replacements among its policyholders grew 1,155% from 2019-2022, while the National Insurance Crime Bureau has found that nationwide catalytic converter thefts surged 1,215% during that same period.
"Catalytic converter thefts exploded during the pandemic," Craig Edmonds, Allstate's vice president of auto physical damage claims, said in a release. "Supply chain disruptions raised the value of these parts. And because they're relatively easy to steal, theft rings have pounced, creating a multimillion-dollar black market enterprise. Fortunately, there are ways to protect yourself from becoming a victim."
Allstate noted that comprehensive auto coverage can pay to repair or replace damage caused by vandalism, theft or attempted theft.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
