Here’s Why Some Auto Insurers Are Boycotting Certain Hyundai And Kia Models
Car insurance has become necessary and an essential for anyone who owns an automobile. These insurances help you keep your peace of mind knowing that whatever comes up with the car will be handled by the insurance company but what would happen if the insurance company refuses to take on your car?
Unfortunately, for many car owners, this has become their reality. State Farm and Progressive, leading American Car insurance companies, have blatantly refused to generate policies in particular cities for previous models of Kia and Hyundai. However, it is not because of some mal intent towards the car manufacturers in fact it is due to the fact that these cars have been considered to be ‘too easy to steal’ as per the car insurance company. If you own a Kia or a Hyundai, you might want to read what is coming next.
No Service Provided
There are numerous reports that disclose that companies have decided to stop offering their service towards particular models in the US cities that include St. Louis, Denver, Colorado, Missouri. However, when CNN reached out to those car insurance companies, they refused to disclose the states or the cities that were included on their list.
The Highway Loss Data Institute released data that showcased various social media accounts, from 2015 to 2019, stating that Kia and Hyundai models are almost twice as likely to be stolen compared to other vehicles that were released during the same time period. This is because most of these models are not equipped with the basic auto anti-theft technology which was included in other vehicles of the year.
All for Social Media?
These high number of thefts came after the rise in social media trends which was about stealing cars, 2021. HLDI revealed that people stealing the cars began filming themselves stealing or taking joyrides. These videos were also explaining how to steal cars. Theft claims for Hyundai and Kia went up more than 30 times in 2019, in Wisconsin where the crimes became prevalent.
In the light of this, State Farm has held off writing new business in certain states for particular models mainly because he theft losses for the vehicles have went up by a great deal. The Car insurance stated that this is a serious issue that is impacting their customer base and subsequently, the auto insurance industry as well.
Electronic immobilizers are based on computer chips and are placed in a car and one of them is placed in the key to ensure that the key belongs to the car. Without the right key, the car’s electronic immobilizer comes into play and stops the car from moving. The immobilizers were used on 96% of the vehicles which were sold during 2015-2019. According to HLDI, only 26% of the Kia and Hyundai models had those.
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