Protect Your Car’s Catalytic Converter – Auto Parts Theft and Break-ins Reported

As much value as your car has to you, its parts are worth more than gold.

The metal parts inside the catalytic converters are worth more than gold. It’s not the part itself but the treasures inside that make it a popular item to steal. Unfortunately, your catalytic converter is not safe even in a well-lit garage, as reported break-ins outside of Alta Lofts and at Santee Village Maple parkings structure lot in DTLA highlight.

According to an analysis of federal crime data by the National Insurance Crime Bureau, car theft has risen dramatically in the U.S. during the pandemic reversing a two-year decline. This industry organization focuses on insurance fraud. Up 10% in 2020 over the previous year. | data from Barron’s Market Watch

On top of that, catalytic converter theft has surged across the country, increasing over 400% in the past year. This uptick is linked to the valuable metals (platinum, palladium, and rhodium) that these emissions-control devices contain. | as reported in the LA Times 2021

Think of a catalytic converter as an extraordinary kind of filter for your car’s exhaust system that reduces harmful emissions. It’s bolted to the underside of every gas-powered vehicle, and it’s vulnerable to thieves because it contains metals more precious than gold. The metals convert harmful exhaust into oxygen, nitrogen, and other less dangerous gasses. Unfortunately; catalytic converter thefts have been rising, and the devices are expensive to replace. But a few simple steps might help you protect your car. 

A) Etch your license plate number onto your catalytic converter. 

This makes the part identifiable to law enforcement. The idea is that a thief who sees the etching moves on to an easier target. Police agencies in some communities have joined with local repair shops to sponsor etching events. 

B) Park in well-lit areas.

Scott Jones, manager of Chapel Hill Tire, an auto service center in North Carolina, says most of the theft cases that pass through his shop occur in residential lots where cars are parked overnight. If you have to leave your vehicle outside, the National Insurance Criminal Bureau (NICB) recommends parking in a well-lit area and making sure to set your vehicle alarm. Installing a bright motion sensor light may also dissuade potential thieves. 

C) Do not leave any objects visible inside the car.

Crime is up in California. Never leave anything visible in the car, no matter how low the value. Criminals will break in, causing hundreds of dollars of damage, to steal anything worth a dollar or even less.

D) Install an anti-theft device.

Etching and careful parking might make your catalytic converter less attractive to thieves, but these preventive maneuvers don’t protect the part itself. Jones says an anti-theft device can help. His shop installs one by bolting a metal shield to the vehicle frame to cover the catalytic converter, which costs about $350, including installation. Other designs resemble a cage or armor plating. 

Will my car insurance cover a stolen catalytic converter? Car insurance may help cover catalytic converter theft if you have comprehensive coverage on your policy. Comprehensive coverage may help pay to replace your catalytic converter and repair damage done by a thief, up to the coverage limits stated in your policy, and minus your deductible.

Spending money on deterrents like a cage or engraving your part will dissuade some thieves now. Make sure you are ready for the likelihood of the part getting stollen anyway. Having the right insurance coverage may be your best bang for the buck. Eventually, your deterrents will be defeated as the value of these parts keeps going up. Check with your auto insurance agent. Secure your vehicle in a private lot or find a building that has 24-hour secure parking. #cartheft #catalyticconvertergold

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Adding a cage is to protect your catalytic converter is best done on a lift.

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.

Panama Investment Property Paradise Lower Prices and Great Rental Returns

While the pandemic has slowed the market down. Longer term invetors see good returns on properites

Continuing our series on investment topics we would like to cover investment properties that have been out of the box until recently.

To reference The World Is Flat: A Brief History of the Twenty-first Century | by Thomas Friedman, The world is getting flatter by the year. By that, we mean the hurdles we have to jump to go places and do things are getting easier to overcome as time goes on. The idea of investing in properties outside the country does not seem so far-fetched. One popular location is the central american country of Panama. it is warm they use the dollar and many, many people look to Panama as an appealing place to retire. Investing in a house or a flat in Panama to rent out to retirees is a good real estate investment stratagy. Even if you don’t plan to go there yourself.

Panama’s housing market is now depressed. Homes sales and residential construction activity are both declining. Property prices have fallen in most major cities. Good news for long term investors.

Foreign buyers have buoyed Panama’s housing market in recent years, pushing up prices by 5% to 10% annually. Foreign buyers tend to be from the United States, Europe, Canada, and Latin America. This is good news or investors with long term plans. Buying property in Panama for retirement rentals makes great sense.

It’s a much less daughting task to secure funding in this market with lower prices sellers will make a better deal to get the deal closed. While the rental market value continues to show positive growth.

Panama: firm prices, yields good

Gross rental yields in Panama have declined somewhat over the past few years. But the gross yields in Panama – the rental return earned on the purchase price of a rental property, before taxation, vacancy costs, and other costs – are good, by international standards. Yields range from 5.7% to 7.3%. 

There isn’t much difference, in terms of yield, between beachfront and further back. Beachfront is more expensive, but you get a better rent. Smaller apartments do tend to yield more.

#panamainvestment #Entarispowerful

Where in the world would you consisder investing in retirement property, leave a comment here.

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Panama is statistically speaking one of the safest countries in Central and South America. Even so, there are things about Panama that may make you think twice about visiting this country: theft from tourists is common, pickpocketing happens, muggings can occur too. Be prepared for the normal sorts of things that can go wrong in any city.

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Tropical beaches are popular with vorth american and eropean retireies looking for sunshine

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.