State Farm: Catalytic converter theft claims dropped this year; see where Ohio ranks
The precious metals found in catalytic converters are drawing less interest from thieves in Ohio.
Theft claims for catalytic converters are down this year at State Farm, as the company reported data from the first half of 2024 showing a 74% decrease nationwide.
Ohio still ranks in the top 10 states for the particular claim, but there were 77 claims in the first half of 2024 compared to a total of over 420 claims in 2023.
Catalytic converter theft is driven by the expensive metals found inside, including platinum, palladium and rhodium.
According to State Farm, catalytic converter theft claims peaked in 2022, as the company recorded approximately 45,000 claims. The following year, the number decreased to 21,200, but totals from the first half of 2024 were down to around 3,800.
State Farm didn't offer any theory on why there's been a decline. But USA Today reported last year that the prices of platinum and palladium have fallen, and state and local officials have cracked down with tighter restrictions for scrap dealers and tougher penalties for thieves.
What is a catalytic converter?
Catalytic converters are a part of a car's exhaust system. Their purpose is to convert raw exhaust chemicals from a car's engine into less harmful chemicals like oxygen, water vapor and carbon dioxide before they hit the atmosphere.
How much does it cost to replace a catalytic converter?
Before labor costs, replacing a catalytic converter ranges from hundreds to thousands of dollars, depending on the car.
State Farm said it paid claims totaling $11.2 million to customers so far this year. The average claim for the first half of the year was nearly $2,900.
How can I protect against catalytic converter theft?
Here's what State Farm recommends for protecting yourself from catalytic converter theft:
Park inside a garage or in well-lit areas.
Install a sensitive alarm system.
Have a security camera pointing at your car in its usual parking spot.
Engrave your VIN on your car’s catalytic converter.
To protect yourself, speak with your insurance agent to make sure that your auto insurance policy covers the theft of your entire vehicle or of its parts through comprehensive coverage.
If you encounter a potential theft, do not approach or engage a potential thief. Contact authorities immediately.
Which states lead the U.S. in catalytic converter claims at State Farm?
State Farm provided a breakdown of the top 10 states leading the nation in catalytic converter claims:
California, with over 2,000 claims compared to 5,400 claims in 2023
Illinois, with 540 claims compared to nearly 1,300 claims in 2023
New York, with nearly 200 claims compared to over 500 claims in 2023
Texas, with nearly 140 claims compared to 1,450 claims in 2023
Florida, with nearly 115 claims compared to 330 claims in 2023
Pennsylvania, with over 85 claims compared to over 480 claims in 2023
Ohio, with 77 claims compared to over 420 claims in 2023
New Jersey, with over 75 claims compared to 208 claims in 2023
Minnesota, with 68 claims compared to 400 claims in 2023
Colorado, with 58 claims compared to nearly 670 claims in 2023
Which vehicles are targeted most for catalytic converter thefts?
Carfax earlier this year reported the top 10 vehicles targeted for catalytic converter thefts. Here's the list:
Ford F-150
Ford Explorer
Honda Accord
Toyota Prius
Honda CR-V
Chevrolet Equinox
Toyota Tacoma
Kia Soul
Chevrolet Traverse
Chevrolet Cruze
This article originally appeared on The Repository: Catalytic converter theft claims in Ohio decreasing, State Farm says
