From January-April of this year, catalytic converter thefts in the U.S. have increased 33% compared with the same period the year prior, according to BeenVerified. The growth in 2022 follows a staggering rise in these crimes, as 2021 saw a 325% year-on-year increase in catalytic converter thefts. In addition to continuing to grow, these crimes are becoming popular in new regions. In 2021, California, Texas and Washington State saw the most thefts. So far this year, Indiana, Georgia and Rhode Island have become catalytic convert-theft hot spots, according to BeenVerified. Helping to propel this dramatic rise is the growing price for the precious metals converters are made of. For example, rhodium currently sells for around $15,000 per ounce, while palladium runs about $2,306 per ounce. Although spot prices are quite high, thieves can only typically sell a catalytic converter for $25-$300 if it comes of a traditional vehicle. Catalytic converters from hybrid cars can fetch as much as $1,400. For drivers with comprehensive auto insurance policies, a theft of this nature could be covered under clauses of the policy that cover non-accident related damages. The average cost to replace a catalytic converter ranges from $1,000-$3,000. To reduce the chances of catalytic converter theft, the National Insurance Crime Bureau recommends the following:

• Install a catalytic converter antitheft device. These are available from various manufacturers and can provide a level of security from theft.
• Park fleet trucks in an enclosed area that is secured, well lit, locked and alarmed.
• Park personal vehicles, if possible, in a garage. If not possible and the vehicle must be parked in a driveway, consider installing motion sensor security lights. While lights may not provide complete security, it may make some thieves think twice, and they may opt to leave the area, and your car, untouched. Whether in the garage or outside in the driveway, set the alarm on your vehicle if equipped.
• Attend a local NICB catalytic converter etching event. If none are currently scheduled in your area, contact a muffler shop that can etch your vehicle's VIN on the converter, and spray it with a highly visible high-heat paint. Doing so enables the NICB and law enforcement to track the converters which could lead to the arrest of catalytic converter thieves.

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