Neighbor's catalytic converter got cut off his truck overnight. Second one on our street in a month. Takes less than 90 seconds with a battery saw apparently.
The repair cost is $1,500-3,000 depending on the vehicle. Comprehensive insurance covers it minus deductible but rates go up.
Which vehicles are getting hit the most? And is there anything that actually prevents this besides parking in a garage?
Comprehensive insurance covers it but file the claim and your rates go up. My deductible is $500 and the replacement was $2,200. Insurance covered it but my premium went up $30/month. So I'll pay it back in 5 years. Cool.
The recyclers buying these no-questions-asked are the real problem. A stolen cat sells for $100-500 in scrap. Until that's regulated this won't stop.
Toyota Tacoma, Tundra, 4Runner, and Prius are the most targeted. Higher ground clearance = easier access, and Toyota cats have more precious metals. If you own one of these, you're a target.
Park in the garage if you have one. If you don't, park in the most well-lit area possible. Motion sensor light aimed at where you park helps too.
Cat shield or cage. $150-300 installed. It's a metal plate bolted over the catalytic converter. Doesn't make it impossible to steal but makes it take 10+ minutes instead of 90 seconds. Most thieves move on.