Here’s why hybrids have become a top target for thieves – EV Updates 2022

Here’s why hybrids have become a top target for thieves – EV Updates 2022

Here’s why hybrids have become a top target for thieves – EV Updates 2022

2004-2009 Prius began to use the word “iconic” for Toyota’s hybrid trendsetter. Despite the previous Prius, its 55-MPG window sticker, the unique comeback shade and, soon, the views of various celebrities are all an understated, eco-chic way to be noticed.

Now, it seems that thieves are paying attention to those old Prius models and all hybrids. Why? Simply put, platinum, rhodium and palladium are the most precious metals needed for catalytic converters, and hybrid cats need them in large quantities because of their emission classification and frequent start-up of their engines. The rise of the supply chain and the increase in demand for precious metals have increased costs in some impossible places, meaning that thieves can get almost as much of a catalytic converter by stealing an entire car.

Catalyst Converter Claims - HLDI, 11/2021

Catalyst Converter Claims – HLDI, 11/2021

Theft rate for Prius models was 40 times higher in 2020 than in 2016, and theft loss data showed last week that the insured vehicle had 45 times more theft losses per year. According to the National Insurance Crime Bureau (NICB), catalytic converter thefts have risen from about 100 per month in 2018 to more than 1,200 per month in 2020. According to a NICB update from the beginning of this year, that spike finally happened in 2020, and it will continue until 2021.

Catalytic converter thefts - NICB, 3/2021

Catalytic converter thefts – NICB, 3/2021

Prius theft claims are highest in California, Oregon and Washington, and overall claim frequencies have increased dramatically from 2019 to 2020.

HLDI points out that scrap prices for the 2004-2009 Prius reached $ 1,022, while the third-generation 2010-2015 Prius catalyst charge only $ 548, compared to the 2007 F-150 FX-4 cat for just $ 14.

Even if the owners have comprehensive insurance, those who have stolen their catalyst converter will have to pay a premium of more than $ 3,000 for the replacement catalyst converter.

Loose state rules are part of the problem the system points to. Only a few states require buyers of such components to identify vendors; Despite their high value, catalytic converters are not stamped with vehicle identification numbers.

NICB points out that new catalytic converters require more metals. So make sure you are protected from this kind of theft. Invest in proper lighting and protection. And, perhaps, consider you parking the hybrid in the garage.

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Here’s why hybrids have become a top target for thieves – EV Updates 2022

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