Fortegra launches a Catalytic Converter Theft Deterrent Product
Fortegra , a global specialty insurer and subsidiary of Tiptree, announced the launch of a Catalytic Converter Theft Deterrent Product under the company’s Smart AutoCare brand. This limited warranty, which is designed to protect U.S. car owners against the rising threat of catalytic converter thefts, is available at dozens of auto dealers across the country.
“When a thief sees your vehicle, they see an opportunity to wrongfully acquire valuable parts and pieces. It’s a reality far too many people experience every day. This new limited warranty gives vehicle owners a valuable tool to level the playing field and protect their investment.” – Peter Masi, Smart AutoCare Founder and CEO.
Catalytic converter thefts have skyrocketed across the nation. According to the National Insurance Crime Bureau, there were more than 52,000 converter thefts with a claim in 2021 compared to roughly 1,300 in 2018. New converters range from around $1,000 to $4,000 and are not often covered by traditional insurance policies.
Purchasers of this warranty will also benefit from a theft deterrent system. “This unique, tamperproof, and permanent seal makes the converter identifiable to law enforcement and reputable scrap dealers via a registration number.”