This week saw Yes Insurance highlighting a crossover point that both people with home insurance and car insurance should be aware of. According to their data, there has been a large increase in the number of catalytic converters being stolen from cars.
Catalytic converters, part of the exhaust system of your car, may be the last thing you expect thieves to be interested in, but with prices of rare metals increasing year on year, your fancy sat nav system might not be the first thing that attracts thieves to your vehicle. Consisting of precious metals such as platinum, palladium and rhodium, your converter is at high risk for theft due to it being on the exterior of your car. With the popularity of 4×4′s ballooning in recent years, the high ground clearance makes them easy pickings too. The added danger is that some need to be cut off and often electrics and fuel lines can be damaged with the driver unaware until they actually drive around in it.
Naturally, Yes Insurance state that the safest thing you can do is keep your car in a garage overnight, but unfortunately this type of crime can no easier be protected against than any other car theft. With estimated costs of around 1,000 for a new converter, it can be a costly affair, especially with some of the high excess values people take out to reduce their premiums.
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