WASHINGTON, D.C., May 15, 2008 - GEICO's Special Investigations Unit (SIU) has observed a growing trend nationwide regarding the theft of catalytic converters from vehicles and advises auto owners to take preventative measures. Thieves are targeting areas where large numbers of vehicles are parked for extended periods of time and left unobservable to traffic. These areas might include auto dealerships, park-n-ride locations, industrial areas and school, business and mall parking lots.
According to Steve Rutzebeck, director of GEICO's SIU, "A big part of our job at GEICO is providing safety measures to protect our consumers and prevent fraud. Now more than ever, we're spreading the word about what people can do to protect themselves against theft."
Rutzebeck recommended these steps to help reduce the chances your car will be targeted:
Rutzebeck continued, "Targeted vehicles appear to be those that sit higher off the ground and allow for easy access to the undercarriage, specifically SUV's, vans and trucks. Once under these vehicles, thieves use battery-powered saws to cut both ends of the converters off the vehicle within a matter of minutes. Stolen catalytic converters are then sold to repair shops, metal yards, or purchasers on the Internet to be processed for the metals they contain. Additional information from law enforcement indicates metals contained in the catalytic converters may be used in the illegal manufacturing of methamphetamine."
Consumers are impacted by this theft in many ways:
If a loss of this nature should occur, remember to contact your local police department to report the theft and contact your insurer for support in handling your towing and repair needs.
GEICO (Government Employees Insurance Company) is a member of the Berkshire Hathaway family of companies and is the third-largest private passenger auto insurer in the United States.* GEICO provides auto insurance coverage for 9 million policyholders and insures more than 16 million vehicles.
In addition to auto insurance, GEICO offers customers insurance products for their motorcycles, all-terrain vehicles (ATVs), and mobile homes. Coverage for life, boats, homes and apartments is available through the GEICO Insurance Agency. Commercial auto insurance and personal umbrella protection are also available.
As a member of the Berkshire Hathaway group of companies, GEICO is rated A++ for financial strength by A.M. Best Company and ranks at the top of several national customer satisfaction surveys. For more information, go to http://www.geico.com.
*A.M. Best
© 1996-2010 GEICO
