NJ insurance provider says this brazen theft is on the decline

A big moneymaker within your car's exhaust system appears to be less of a hot item among criminals in 2024, according to auto claims data from the insurance company State Farm.

In the first half of 2024, State Farm recorded a 74% drop in catalytic converter thefts, compared to the same period in 2023.

The promising statistics come less than two years after State Farm issued a notice about a surge in the theft of catalytic converters.

The rare metals inside the converters, like platinum or rhodium, create the appeal to lawbreakers who can make hundreds or thousands of dollars off one piece.

Nationally, State Farm tallied about 3,800 catalytic converter thefts in the first six months of 2024. The count was close to 15,000 in the first six months of 2023. State Farm recorded around 45,000 claims throughout all of 2022.

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As a result of the catalytic converter claims made so far this year, State Farm has paid out more than $11 million to customers to replace the part and repair their vehicle.

In New Jersey specifically, State Farm handled about 75 catalytic converter claims in the first half of 2024. That's down from 208 during the same period in 2023.

The Garden State has been cracking down on auto and converter thefts through updated laws. In New Jersey, scrap yards must follow a list of verification steps before purchasing a catalytic converter from a seller.

To prevent thefts going forward, State Farm encourages drivers to follow these tips:

🚗 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.