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My understanding is that all the guards or barriers around the catalytic converter are meant to make it more difficult or time consuming for a thief, so that they’re more likely to skip it and try another car rather spend half an hour risking arrest and/or a broken saw blade.
A cheap aftermarket cat will still be hundreds of dollars, plus more for installation. It might make sense to get one after the factory cat is stolen, but I wouldn’t change it beforehand.
I’ll also say that if you want a hybrid with a catalytic convert that’s harder to steal, the cat in a Chevy Volt is tucked up in the engine bay between the engine and the radiator. But the Prius gets better mileage, unless you can plug in the Volt to charge it.
Either way, you should paint a cool airbrush mural on it