Insurer reveals catalytic converter thefts are on the rise

• Precious metals found in catalytic converters in vehicles are worth a fortune to thieves – some even more than gold
• Honda Jazz, Toyota Prius, Toyota Auris and Lexus RX are the models most targeted according to Admiral

Lorna Connelly, Head of Claims at Admiral, said: “At the beginning of 2020 we saw an increase in the number of catalytic converter thefts in the UK, with 400 claims in January alone. However, with more people staying at home due to lockdown restrictions, we saw the number of thefts drop, with just 52 claims in April. Unfortunately, these types of thefts are dramatically rising in number again, as restrictions in some parts of the country have eased, and it’s clear they are fast approaching pre-lockdown rates.

“The increase since June has been significant, and shows thieves are back to stealing the precious metals found in catalytic converters in some cars, which are then being sold on for a profit.  Palladium, platinum, and rhodium found in the converters are worth a fortune to thieves. Currently, palladium is even more valuable than gold, rhodium is worth almost two thirds of the value of gold, and platinum is around half the value of gold.