Catalytic Converter Theft Finally Down For The First Time In Years

Catalytic converter theft claims have fallen considerably in the past year, according to new data released by State Farm.

According to the insurer, there’s been a “dramatic drop” in claims for the first half of the year compared to 2022. This is the first registered decline since 2019, with a recorded 14,500 claims between January and July 2023. In the same period last year, State Farm received more than 23,000 catalytic converter theft claims.

The 14,500 claims amount to an estimated total of $41.7 million in payouts to customers to replace stolen parts and repair their vehicles. That’s an astounding number, but last year, State Farm had a staggering 45,000 claims in total, representing $115.4 million in insurance payouts.

To put these numbers into perspective, there were just 2,500 claims in 2019, with $4.7 million in payouts.