A SWINDON insurance broker is warning businesses in the area to take precautions as the theft of catalytic converters from fleet vehicles increases.

According to latest figures the practice, which involves removing the converter from the exhaust pipe to sell on to scrap metal dealers, has doubled from 1,100 incidents to 2,300 over a five- month period as the value of platinum, palladium and rhodium from which the converters are made increases.

Bluefin Insurance, which has offices in Swindon, says that not only can the cost of replacing the catalytic converter be high, but the damage caused to the vehicle can also be extensive.

Businesses with fleets of vehicles are particularly vulnerable because thieves can hit multiple vehicles in a single location, adding up to thousands of pounds worth of damage.

A spokeman said: “Prices for scrap metal have been on a general upward path since late 2008 which, along with the global economic recession, has revived criminal interest.

“It may only take a few seconds for the thief to remove the converter, but it can cause major disruption to a business if several vehicles are targeted, costing a small fortune to repair and halting operations for several days.”

Vehicles that sit higher from the ground such as trucks, pick-ups and SUVs are particularly vulnerable to catalytic converter theft because thieves can slide underneath without having to jack up the vehicle.