Overview

• State Farm reported a significant decrease in catalytic converter theft claims in the first half of 2023, marking the first such decline since 2019.
• The total number of claims fell from over 23,000 in the first half of 2022 to approximately 14,500 during the same period in 2023.
• The insurance company cites increased media coverage, more legislative efforts, and declining metal prices as key factors contributing to this decline.
• Catalytic converter thefts have been a rising issue nationwide in recent years, with the devices often being stolen to be melted down for their valuable metals.
• State Farm's data provides some optimism in combatting this type of theft, as various efforts seem to be making an impact.