Progressive and State Farm, two of the largest auto insurers in the United States, are refusing to sign policies in certain cities for some older Hyundai and Kia models that have been deemed too easy to steal, according to the companies. Several reports say that companies have stopped offering insurance for these vehicles in cities such as Denver, Colorado and St. Louis, Missouri. Insurers did not tell CNN which cities or states were involved. The Highway Loss Data Institute released insurance claims data last September that confirmed what various social media accounts had been saying: Some 2015-2019 Hyundai and Kia models are approximately twice as likely to be stolen than other older vehicles. . similar because many of them lack the basic theft prevention technology included in most other vehicles in those years, according to HLDI. Specifically, these SUVs and cars do not have electronic immobilizers, relying on a computer chip in the car and one in the key that communicate with each other to confirm that the key really belongs to that vehicle. Without the correct key, an immobilizer is supposed to do just that – stop the car from moving. Immobilizers were standard equipment on 96% of vehicles sold for the 2015-2019 model years, according to the HLDI, but only 26% of Hyundai and Kia. I had them at the time. Vehicles that have push-button starting systems, rather than metal keys that must be inserted and turned, have immobilizers, but not all models have turnkey ignitions. The theft of these vehicles became a trend on social media in 2021, according to the HLDI, when car thieves started posting videos of their thefts and rides and even videos explaining how to steal the cars. In Wisconsin, where crime has become prevalent, Hyundai and Kia theft reports have increased to more than 30 times 2019 levels in dollar terms. "This is a serious issue that affects our customers and the entire auto insurance industry." Progressive is also reducing insurance on these cars in some markets, spokesman Jeff said. theft rates for certain Hyundai and Kia vehicles have more than tripled, and in some markets these vehicles are nearly 20 times more likely to be stolen than other vehicles," Sibel wrote. risk they represent, this explosive increase in thefts in many cases makes these vehicles extremely difficult for us to insure. In response, in some geographic areas, we have increased our rates and limited our sale of new insurance policies on some of these models. "Progressive continues to insure those who already have policies with the company," he said. Progressive also gives tips on how to protect your vehicles from theft. Michael Barry, a spokesman for the Insurance Information Institute, said it is very unusual for car insurers to simply stop writing new policies for a particular make or model of vehicle. "Usually they want to expand their market share depending on where they're doing business," he said. Hyundai and Kia operate as separate companies in the United States, but Hyundai Motor Group owns a large stake in Kia and several Hyundai and Kia models. they share much of their engineering. Engine immobilizers are now standard on all Kia vehicles, according to a statement from the automaker, and the company says it has been developing and testing security software for vehicles that were not originally equipped with an immobilizer. Kia said it has started notifying owners of the availability of this software, which is provided free of charge. Hyundai said it is providing free steering wheel locks to some police departments across the country so that local residents can easily steal Hyundai models. Hyundai dealerships are also installing free safety kits for vehicles, the company said.
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Progressive and State Farm, two of the largest auto insurers in the United States, are refusing to sign policies in certain cities for some older Hyundai and Kia models that have been deemed too easy to steal, according to the companies.
Various reports say that companies have stopped offering insurance for these vehicles in cities that includeDenver, ColoradoySt. Louis, Missouri.Insurers did not tell CNN which cities or states were involved.
Announcement
O Highway Loss Data Institute publicoulast september insurance claims datawhich confirmed what several social media accounts were Said: Some Hyundai and Kia models from 2015 to 2019 are about twice as likely to be stolen than other vehicles of similar age, why many of them lack some of the basic theft prevention technology included in most other vehicles in those years, according to the HLDI.
Insurance expert says industry 'quite alarmed' by Kia, Hyundai thefts
Specifically, these trucks and cars do not have electronic immobilizers, which rely on a computer chip in the car and a computer chip in the key that communicate with each other to confirm that the key really belongs to that vehicle. Without the correct key, an immobilizer is supposed to do just that – stop the car from moving.
Immobilizers were standard equipment on 96% of vehicles sold in the 2015-2019 model years, according to the HLDI, but only 26% of Hyundai and Kia had them. In that time. Vehicles that have push-button starting systems, rather than metal keys that must be inserted and turned, have immobilizers, but not all models have turnkey ignitions.
Stealing these vehicles has become trend in social networks in 2021, according to HLDI,car thieves started posting videos of their thefts and ridesand even videos that explain how to steal the cars. In Wisconsin, where crime has become prevalent, Hyundai and Kia theft reports are up more than 30 times 2019 levels in dollar terms.
"State Farm has temporarily stopped doing new business in some states for certain model years and trim levels of Hyundai and Kia vehicles because losses from theft of these vehicles have increased dramatically," the insurer said in a statement provided to CNN. "This is a serious issue that affects our customers and the entire auto insurance industry."
Progressive is also cutting insurance on these cars in some markets, spokesman Jeff Sibel said in an emailed statement.
Kia and Hyundai are easy targets for thieves, confirm insurance data
"In the past year, we've seen the theft rates for certain Hyundai and Kia vehicles more than triple, and in some markets these vehicles are nearly 20 times more likely to be stolen than other vehicles," he wrote. "As we price our policies based on the level of risk they pose, this explosive increase in theft in many cases makes these vehicles extremely difficult to insure. In response, in some geographic areas, we have increased our rates and limited our sale of new insurance on some of these models.
Progressive continues to insure those who already have policies with the company, he said. Progressive also gives tips on how to protect your vehicles from theft.
Michael Barry, a spokesman for the Insurance Information Institute, said it is very unusual for car insurers to simply stop issuing new policies for a particular make or model of vehicle.
"Usually they want to expand their market share depending on where they're doing business," he said.
Hyundai and Kia operate as separate companies in the United States, but the Hyundai Motor Group owns a large stake in Kia, and several Hyundai and Kia models share much of their engineering.
Engine immobilizers are now standard on all Kia vehicles, according to a statement from the automaker, and the company says it has been developing and testing security software for vehicles that were not originally equipped with an immobilizer. Kia said it has started notifying owners of the availability of this software, which is provided free of charge.
Hyundai said it is providing free steering wheel locks to some police departments across the country to give local residents who have easily Hyundai stolen models. Hyundai dealerships are also installing free safety kits for vehicles, the company said.
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