Posted by Fortified Insurance Agency onFiled Under: Auto Insurance, Insurance Agent
We keep hearing more and more about catalytic converter thefts. In case you haven’t paid attention, COVID 19 boredom, high unemployment, and the price paid for exotic metals found in catalytic converters have spawned a new source of crime across the country. Thieves are cutting your catalytic converter right off your vehicle!
Most of these crimes seem to be taking place where vehicles are parked together and usually high over off the ground (think SUVs and trucks). This frequently occurs at dealership lots, auto repair garages, park and ride lots, overnight parking lots, and your driveway. Thieves slide under the vehicle and cut the converters off attempting to score many converters in just a matter of minutes.
According to Car and Driver, “cash payouts from $50 to a few hundred bucks can add up fast—and the sales aren’t tracked by law enforcement. Two of the three rare earth metals used in catalytic converters are worth more per ounce than gold. Palladium spot prices are currently more than $2300 (gold is about $1900), a 20 percent increase since January, according to Oklahoma metal dealer APMEX. Rhodium, which started the year around $6000, has spiked past $16,000. “
Preventing theft of your catalytic converter is somewhat limited. If you have vehicle that sits higher off the ground, be aware of where you are parking your vehicle. Park in a garage if you can, otherwise seek well-lit areas, get high definition cameras, consider a motion sensor alarm, and be sure even your older vehicles have comprehensive coverage.
Talk to one of our agents today about ensuring you have coverage for theft.
Keith Beausoleil, CPCU & the Fortified Staff
Here is a little video from earlier this week and ice dam removal: https://www.youtube.com/watch?v=Zfaf5f4rp10
Keith Beausoleil is an insurance agent at Fortified Insurance Agency. Fortified Insurance Agency in Manchester NH specializes in coverage for auto insurance, automobile insurance, home insurance, homeowners insurance, umbrella insurance, renters insurance, condo insurance, RV insurance, motorcycle insurance, boat insurance, personal watercraft insurance, PWC insurance, snowmobile insurance, golf cart insurance, business insurance, commercial insurance, surety bonds, rental property insurance, and more. Talk to our professional insurance agents about coverage in New Hampshire (NH) today or refer us to someone who needs an independent insurance agent.