Many of us don't give our vehicle's catalytic converter a second thought. Unfortunately, there are thieves out there banking on our inattention.

Catalytic converters are part of a vehicle's exhaust system. They are made of valuable materials and are easy to remove with a few bolts or a cutting device.

Replacing the part can be costly, in some cases thousands of dollars. We've had clients report catalytic converters being stolen from vehicles and RVs parked at storage facilities. We've also heard of thefts in park and ride lots.

It is a crime of opportunity, but there are some steps you can take to help prevent this from happening to you.

Call a good local muffler store and ask what types of vehicles have been targeted in your area. Trucks and SUVs are popular choices due to the ease of getting under the vehicle. The Toyota Prius tops the list in many areas because the converter contains more of the rhodium, palladium, and platinum.

Investing in an anti-theft device is much cheaper than replacing a catalytic converter. There are several available devices to protect the catalytic converter: steel shields, cages made of rebar or other high-strength steel and stainless steel cables are some of the options. Getting this protection installed typically ranges from $250 to $800.

Another possible and less expensive deterrent is spray painting your converter with a high-temperature fluorescent orange paint, and then inscribing your vehicle identification number. The hope here is a reputable scrap metal dealer may decline to purchase it.

You can turn up the sensitivity of your car alarm so that it goes off when thieves jostle your car, however, it may also go off in the middle of the night when a cat jumps on the car. A better option may be to install a motion-sensitive dashcam. It can notify you of a theft in progress or possibly record the license plate of the getaway car. Whenever possible the best option is to park inside, but if that isn't an option, motion-sensitive lights that illuminate the driveway or parking area can serve as a deterrent.

Comprehensive insurance covers stolen auto parts, so if you have full coverage — liability insurance, plus collision and comprehensive that repair or replace your own car — you're covered, minus your deductible amount. If you carry liability coverage only, your vehicle is not covered for theft.