The insurance giant is calling for vigilance
Insurance News
By Mika Pangilinan
Allstate has released data showing an alarming increase in catalytic converter replacements among its customers, with figures showing a national increase of 1,155% between 2019 and 2022.
In line with Allstate’s findings, the National Insurance Crime Bureau also reported a 1,215% increase in catalytic converter thefts nationwide during the same period.
This revelation underscores the severity of the issue and suggests the problem exists far beyond Allstate’s customer base, the insurance giant said in a release.
The Allstate data also reveals a wide variation in replacement rates in different states. Oregon and Washington in the Pacific Northwest experienced increases of over 7,000%, while Pennsylvania, Connecticut, and New York on the East Coast witnessed increases from 4,500% to 7,000%.
RANKINGS
|
state
|
increasing
|
---|---|---|
1
|
Oregon
|
+7,200%
|
2
|
Washington
|
+7,150%
|
3
|
Pennsylvania
|
+6,950%
|
4
|
Connecticut
|
+6,400%
|
5
|
New York
|
+4,583%
|
6
|
Missouri
|
+4,000%
|
7
|
Colorado
|
+3,300%
|
8
|
Tennessee
|
+3,100%
|
9
|
New Jersey
|
+2,767%
|
10
|
Nevada
|
+2,700%
|
11
|
Texas
|
+2,217%
|
12
|
Arizona
|
+2,200%
|
“Catalytic converter thefts have exploded during the pandemic,” said Craig Edmonds, Allstate’s vice president of auto damage claims. “Disruptions in the supply chain drive up the value of these parts. And because they’re easy to steal, theft rings flourish, creating a multimillion-dollar business on the black market . Fortunately, there are ways to protect yourself from becoming a victim.”
Recognizing the severity of the issue, Allstate has aligned itself with the National Association of Mutual Insurance Companies (NAMIC) to promote legislation aimed at preventing catalytic converter thefts. These legislative efforts focus on preventing the resale of stolen parts and imposing harsher penalties on thieves.
Allstate is calling for vigilance
To minimize the financial impact of such thefts, Allstate urges individuals to carefully review their insurance coverage.
“Without comprehensive coverage, you could end up paying thousands of dollars in parts and repairs if your catalytic converter is stolen,” Edmonds said.
In addition, Allstate recommends several preventative measures to help car owners protect their vehicles and reduce the risk of catalytic converter theft. This includes parking in well-lit areas near building entrances, using secure garages when possible, and using alarm systems as deterrents.
In addition, car owners are advised to explore options such as installing steel plates or cabled coverings on their catalytic converters to prevent theft, painting the component with a visible color, or even marking it with their vehicle identification number (VIN).
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