Data from State Farm shows a nearly 40% decline in catalytic converter theft claims in the first six months of 2023 compared to the same period in 2022.
Data from State Farm showed the number of reported catalytic converter thefts through the first six months of the year finally decreased compared to the same period the year before---the first time since 2019.
The largest auto insurer in the U.S. said it received 14,500 claims related to catalytic converter theft between Jan. 1 and June 30 in 2023---down from 23,000 claims it received in 2022.
State Farm said it paid out $41.7 million to customers in the first half of 2023 to repair their cars and replace the stolen part, an average claim cost of $2,900.
For comparison:
2019: 2,500 claims, $4.7 million paid out, $1,900 average claim
2020: 10,000 claims, $20.9 million paid out, $2,100 average claim
2021: 32,000 claims, $73.7 million paid out, $2,300 average claim
2022: 45,000 claims, $115.4 million paid out, $2,500 average claim
2023: 14,500 claims, $41.7 million, $2,900 average claim (first half of 2023 only)
State Farm also released data on the top 10 states for catalytic converter theft claims through the first half of 2023.
Top 10 States
1. California, 5,400 claims and $17.8 million paid
2. Texas, 1,450 claims and $5.1 million paid
3. Illinois, 1,300 claims and $2.9 million paid
4. Colorado, 670 claims and $2.0 million paid
5. New York, 500 claims and $1.5 million paid
6. Pennsylvania, 480 claims and $1.1 million paid
7. Georgia, 410 claims and $898,000 paid
8. Minnesota, 400 claims and $934,000 paid
9. Florida, 330 claims and $896,000 paid
10. Washington, 320 claims and $773,000 paid
As a reminder, State Farm encourages drivers to continue following these tips to prevent 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.
- Speak with your insurance agent to make sure your policy covers the theft of your entire vehicle or of its parts, through comprehensive coverage.
