Criminals have been targeting cars parked during lockdown to fuel
the illegal trade of precious metals, according to the RAC and
Ageas, one of the UK’s biggest car insurers.
Ageas Insurance says it has seen a marked rise in theft of
catalytic converters since the start of the first lockdown just
over a year ago, with this type of crime now accounting for
three-in-10 of all theft claims reported. Before the lockdown
catalytic converter theft only accounted for around one-in-five,
the company’s data shows.*
Most thefts have happened while cars have been parked at home,
either on the driveway or the road, although in a very small
number of cases thieves were brazen enough to steal them in
supermarket car parks while the driver was shopping.
Catalytic converters form part of a car’s exhaust system. They
contain a honeycomb coated with precious metals such as platinum,
palladium and rhodium which help to reduce and filter harmful
gases from the vehicles’ exhaust systems.
But criminals steal catalytic converters so they can sell them on
and make money from the precious metals inside them.
When global values of these metals go up it usually leads to a
spate of thefts. Prices of rhodium hit a record highs earlier
this year, up more than 200 per cent since March 2020.**
Robin Challand, Claims Director at Ageas, says: “While catalytic
converters are just one component of a car, their theft can often
result in a driver’s car being written off which is the last
thing we want for our customers. We hope that by shining a
spotlight on this type of crime, we can arm motorists with the
information they need to protect their vehicles.”
RAC spokesman Simon Williams says: “Drivers are often oblivious
of their vehicle’s catalytic converter being stolen. Our patrols
are often called to attend cars that have suddenly become
excessively noisy. On investigation it’s very often the case that
the car’s catalytic converter has been stolen.
“We’d strongly recommend motorists get in the habit of taking
extra precautions to guard against this type of crime.
Generally-speaking, most car crime takes place at night, so it
makes sense to park a vehicle in a well-lit and residential
location, or ideally in a garage if available. When away from
home, look for car parks that have security patrols and are
covered by CCTV. It’s also a good idea to look for the ParkMark
logo at car parks as this shows they have met certain security
standards.
“But unfortunately, as Ageas’ data shows, even taking sensible
precautions may not necessarily make you immune to this type of
crime. For this reason, having a strong, comprehensive insurance
policy is a vital in case the worst happens.”
ENDS
Notes to editors
* Catalytic converter theft represented 19.8% of thefts from
private vehicles Oct-Dec 2019 and 29.7% from Jan to March 2021,
according to Ageas’ own claims data
** Benchmark prices for rhodium hit a record of $17,790 an ounce,
up more than 200 per cent since their March 2020 low. Financial
Times. January 2021. https://www.ft.com/content/42b17e6e-ff96-437b-8f41-dd9900a3f8b3
