Catalytic converters continue to be targeted by thieves in the Bay Area. Owners have countered this threat by installing theft deterrent plates with mixed results. Until recently owners were able to claim damages through their insurance and have repairs covered at reduced out-of-pocket costs.
Rather than repair these damages, insurance companies are now tending towards total loss. Of the 7 affected Prius taken to Earthling over the last month, 3 were totalled; owners were reimbursed the adjusted value and the insurance company seized the car, towing it away without repair.
Case 1: 2007 Toyota Prius, 182,873 miles, $3,337.10 totalled value
Case 2: 2006 Toyota Prius, 358,583 miles, $3,528.10 totalled value
Case 3: 2007 Toyota Prius, 86,465 miles, $3,332.53 totalled value
In 4 other cases, across Second (04-09) and Third Generation (10-15) Prius, owners called the shop reporting cat thefts but the cars were totaled prior to coming in.
What This Means For You
Once you make a claim to your insurance, you cannot rescind it. As a result, if the insurance company totals your car, you cannot continue to own it without a salvage title (at reduced resale value). This is appropriate for collision damages, where a car may be structurally compromised, but inappropriate for a mechanical issue where the car can be readily fixed (the job takes 90 minutes) and remain roadworthy as before.
The cost to replace a stolen catalytic converter is currently around $3000. If insurance totals your car, they effectively determine that your car is not worth the value for repairs ($3000).
Most Prius, even with high mileage, are sellable at a price much higher than $3000, despite what insurance companies may calculate. Craigslist is a good place to check for comparables.
If you don’t want to lose your clean title and/or you wish to continue owning and enjoying your Prius, Earthling highly recommends you wait to submit a claim to your insurance for catalytic converter damages.
What To Do If Your Catalytic Converter Is Stolen
Call or text Earthling at 415-875-9030 and we will advise you on expected costs and timing of repairs. You can have the car towed to the shop if you wish. With this information you can opt to pay for the repairs out of pocket or submit the claim to your insurance, depending whether you wish to continue owning and driving the car, sell it yourself, or take the insurance payout.
If your catalytic converter continues to be stolen despite having the upgraded theft-deterrent equipment installed, you may choose to sell your car to another party, one able to park the car indoors or in a different location.
As always Earthling is proud to support these low-emission vehicles with otherwise low cost of ownership. We hate to see them taken off the road prematurely, or their owners unexpectedly left without a car! If you have any questions about the longevity of your Prius or other foreseeable concerns, don’t hesitate to contact us.
