I would like to agree, but that's not how insurance works, at least in the U.S.
You get your catalytic converter stolen, and you will pay for it three times. The first is you paid for the original one. Then you paid for insurance to cover its theft, and likely your payments over the years have already paid for the catalytic converter a second time. And then after it's stolen, your insurance rates will raise such that you are paying for a 3rd (maybe fourth) converter, just on a monthly plan now.
Now, of course, shooting the thief is only cheaper if you don't invest much in your weapons and training, and don't face any legal scrutiny afterwards and need to hire a lawyer.
You get your catalytic converter stolen, and you will pay for it three times. The first is you paid for the original one. Then you paid for insurance to cover its theft, and likely your payments over the years have already paid for the catalytic converter a second time. And then after it's stolen, your insurance rates will raise such that you are paying for a 3rd (maybe fourth) converter, just on a monthly plan now.
Now, of course, shooting the thief is only cheaper if you don't invest much in your weapons and training, and don't face any legal scrutiny afterwards and need to hire a lawyer.