Catalytic Converter Theft Continues to Grow

In our March 22 blog post, we highlighted the growing problem of catalytic converter theft, and we outlined steps you could take to prevent it from happening to you.   

Unfortunately, this problem continues to grow.   The above article focused on protecting your own vehicles. However, the non-owned customer vehicles in your possession are also a target.   We are experiencing increased claim activity of catalytic converter thefts from non-owned vehicles in your possession.

The following video shows how quickly thieves can remove a catalytic converter.

Because there are two potential insurance remedies to these claims; the vehicle owner’s policy and the tower’s Garagekeeper’s policy, it is vital to understand your policy’s coverage and your responsibility.   If you are taking possession of other’s vehicles or property, you need Garagekeeper’s coverage. Garagekeeper’s insures the non-owned property in your care, custody, or control.   There are two key components to the coverage: