Kia And Hyundai Owners Getting Rejected For Insurance Coverage Over Theft Risk

Some Kia and Hyundai house owners have confronted a severe hazard of auto theft over the previous few years. Now, stories are popping out that even when they’ve averted theft, they may be up towards a brand new downside: getting insurance coverage protection. Evidently, main insurance coverage firms are opting to refuse protection relatively than danger paying out on a stolen automobile.

Final 12 months, posts on social media demonstrating how simple it may be to steal some Kia and Hyundai fashions constructed between 2011 and 2021 went viral. Theft charges of the Korean automobiles skyrocketed throughout the nation. In response, police departments, metropolis officers, and others referred to as for motion from each house owners and the automakers themselves.

Two of the states which have been hardest by the spike in thefts are Colorado and Missouri. Now, stories from every state point out that main insurance coverage firms are flat-out refusing to supply protection if the shopper in query has a weak Kia or Hyundai mannequin.

Extra: Teams Push YouTube To Take away Movies Exhibiting How To Steal Hyundais And Kias

First noticed by The Drive, insurance coverage agency Progressive instructed Denver7 Information that it’s “restricted providing protection on new insurance policies within the Denver space on sure fashions of the Korean automakers Hyundai and Kia due to the alarming charge by which these automobiles are getting stolen within the Denver space.”

In keeping with STLToday, the identical concern is taking maintain in St. Louis. It says that Progressive “made the choice to cease providing new insurance policies in November” in keeping with Jim Kirn, proprietor of KIRNCO Insurance coverage in St. Louis, which sells Progressive insurance coverage. Josh Franklin, a salesman for State Farm, confirmed that State Farm made the same determination in November of final 12 months as properly.

It’s not simply these two suppliers or new insurance policies which are affected both. Many present policyholders reported dramatic will increase in coverage prices. Premiums have gone up at different insurance coverage firms too and what’s worse is that in some instances, these premiums are rising on automobiles that aren’t as weak.

Only one instance is that of Jay Zunich who instructed STLToday that when his premium went up by about 25 p.c, he began buying round. The businesses that would offer him with protection charged much more than he was already paying, though his Elantra makes use of a push-button begin which implies that it will probably’t be stolen as simply as these fashions which are primarily affected by the theft development.