You are here: Home - Insurance - News -

Catalytic converter thefts up tenfold in 2019

Written by: Emma Lunn
AA Insurance has seen the number of claims for catalytic converter thefts increase tenfold from the beginning of the year.

In January, eight vehicles had their catalytic converters stolen whereas in October alone 79 were stolen from unsuspecting car owners.

A few unlucky drivers have had their catalytic converter stolen twice, meaning they have had to make two separate insurance claims.

Although catalytic converter thefts represent a very small proportion of all insurance claims made, the number of claims the AA has received has steadily increased since January 2018.

As there is often no third party to claim against, drivers claiming against their insurance policy would also lose their no claims discount, unless otherwise protected.

What is a catalytic converter?

Catalytic converters contain precious metals such as palladium, rhodium and platinum and can either be sent for scrap or sold privately via online auction sites.

As the converter is either unscrewed or sawn off the car, other damage can occur, such as cutting through electrical wires. This means repair bills can be around £2,000 to £3,000.

Police forces across the UK have recognised the increase in crime too and have rolled out targeted communications to help protect drivers.

Janet Connor, managing director for AA insurance services, said: “A tenfold increase in claims for catalytic converters due to theft is a shocking revelation.

“Criminals are being bold and brash by stealing converters in broad daylight, as they believe passers-by won’t question someone tinkering underneath a car.

“Where possible, drivers should park in a garage or in a well-lit area. Manufacturers have also developed anti-theft devices which can be attached to the fixings and give the converter a unique serial number. Concerned drivers should contact their dealer for further information.

“Scrap dealers and online auction sites have a role to play too, by making appropriate checks to ensure the parts being sold or scrapped have not been illegally gained.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Lloyds joins “Friends Against Scams” campaign

Lloyds Bank is supporting National Trading Standards ‘Friends Against Scams’ initiative.