Two of America’s largest auto insurers–Progressive and State Farm have refused to write policies for a few models of popular automakers –Hyundai and Kia. The reason for not providing cover is that these models are easy to steal. Stealing these models became a social media trend more than a year ago, with videos showing methods on how to steal them. This led to car crimes, specifically in certain cities. The automakers are now offering anti-theft measures to these owners.
CNN reported that some of the cities where insurance policies are unavailable include Denver, Colorado, and St. Louis, Mississippi. The insurers have not confirmed the same but released statements to the outlet.
In its statement State Farms told the outlet that it had “temporarily stopped writing new businesses” in a few states for a few models of Hyundai and Kai. It stated that there was a dramatic increase in “theft losses” for these models. It described the problem as “serious” and said that it impacted the entire auto insurance industry and its customers.
The statement from Progressive said that the level of risk for certain Hyundai and Kia vehicles due to an “explosive increase in thefts” had made it particularly challenging for them to insure these vehicles. So, the insurer had increased its rates and limited its sale of new insurance policies in certain geographical areas.
Kia said that owners have been notified about the development of security software for certain vehicles that did not originally have immobilizers. The automaker will provide free software to owners who have these older vehicle models.
Hyundai said that it will provide its vehicle owners with free software update in February. It also said that some police departments have been provided with free steering wheel locks for the car models that can easily be stolen. There are security kits available for sale at Hyundai dealerships.
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