catalytic converter stolen 1998 4runner

[ESDEC02]

My catalytic converter was stolen today:dammit:! while I ate lunch at Luby's. I own a 1998 Toyota 4runner 4 cylinder twin cam with High mileage. I am almost at the 300 thousand mark. My 4runner has been the best vehicle I have ever owned. I was deeply hurt when I started up my suv. Does anyone know approximately how much this is going to cost me? When I drove my car home it smelled like 10 lawn mowers had been out running. My suv does not have much power now and I am scared to even go higher than 40 mph.:rant::cry2:

 

[DC runner]

What kind of insurance you carry? Comprehensive will cover this. Otherwise, several hundred dollars for a decent one.

 

[mas94]

I have a 1988 4runner and the previous owner took out the catalytic converter and replaced it with a section of exhaust pipe. In Wisconsin, emissions test are not required on vehicles older than 1996 so I don't have to worry.

I'm not too sure how the catalytic converter actually affects the truck. Does it reduce power? Is it bad to not have one?