Major insurers plan to drop two car models' coverage due to thefts

Major insurers plan to drop two car models’ coverage due to thefts

At least two main automotive insurers are refusing to shield sure Kia and Hyundai fashions as a result of they lack anti-theft widespread in at the moment’s vehicles, in accordance to stories.

Both State Farm and Progressive confirmed with CNN that they now not write insurance policies for some Kia and Hyundai fashions manufactured between 2015-2019.

In September 2022, the Insurance Institute for Highway Safety, or IHHS, and Highway Loss Data Institute reported that car theft claims for 2015-19 Hyundai and Kia automobiles have been almost twice as widespread because the Dodge Charger SRT Hellcat.

“Car theft spiked through the pandemic,” HLDI Senior Vice President Matt Moore mentioned within the report. “These numbers inform us that some automobiles could also be focused as a result of they’re quick or value some huge cash, and others as a result of they’re straightforward to steal.”

The report additionally famous that the Hyundai and Kia automobiles being stolen lack digital mobilizers that may hinder a thief’s capacity to steal a car from simply breaking into the car and bypassing the ignition. Once immobilizers have been added to the vehicles, Moore mentioned, car thefts of Kias and Hyundais “plunged.”

Cities like Minneapolis have seen a decline in violent crime, but a rise in auto theft over the last year, something police say is directly correlated to this social media challenge.
Cities like Minneapolis have seen a decline in violent crime, however an increase in auto theft over the past yr, one thing police say is instantly correlated to this social media problem.
Fox News

The report additionally notes that immobilizers have been normal in 26 % of Kia and Hyundai car fashions in 2015, however normal in 96 % of all different producers.

State Farm and Progressive didn’t instantly reply to inquiries in search of further details about the claims.

In a press release to CNN, State Farm confirmed the momentary halting of writing insurance coverage insurance policies in some states for some Kia and Hyundai mannequin years and trim ranges.

Progressive additionally confirmed with CNN that they have been making modifications. In some areas, Progressive is rising charges and limiting the sale of recent insurance coverage insurance policies for many who have Kias and Hyundais that match inside the slot of automobiles which are at substantial danger.

Kia and Hyundai car thefts are up as a lot as 300% over the previous two years in some cities.

Videos posted on social media present individuals how to begin the automobiles with out keys, however as a substitute with the tip of a cellphone charger or USB cable, and the development has prompted juveniles throughout the U.S. to attempt to steal Kia and Hyundai automobiles to go for a joyride.

The producers are working via the thefts, with Hyundai providing steering wheel locks via municipalities like Clearwater, Florida. 

Another repair making the rounds was created by the Suntrup Automotive Group in St. Louis, Missouri, involving a redesigned off-the-shelf Bluetooth change that could possibly be hardwired to the car to immobilize the ignition.