| Copyright: | Business Wire | | Source: | Business Wire | | Wordcount: | 493 |
Business Editors/Automotive Writers
WASHINGTON--(BUSINESS WIRE)--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:
If possible, park in busy, well-lit areas. Thieves prefer to work in the dark where passersby may not notice them.
In park-n-rides or commuter lots park so your vehicle is observable to passing traffic.
In malls, shopping centers or business parking lots park as close as you can to main entrances.
If leaving your vehicle in an industrial type area, ensure the vehicle is secured in a fenced in or guarded area.
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:
The vehicle is not safely operable until repaired.
Repair and towing costs, without proper coverage, can cost up to hundreds of dollars.
Personal time associated with the loss can be significant.
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 the fourth-largest private passenger auto insurer in the United States. It provides auto insurance coverage for more than 8 million policyholders and insures more than 13 million vehicles. In addition to auto insurance, GEICO offers customers insurance products for their motorcycles, all-terrain vehicles (ATV's), boats, homes, apartments and mobile homes. Personal umbrella protection and life insurance are also available. As a member of the Berkshire Hathaway group of companies, GEICO is rated A++ for financial stability 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.
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