"...Major Insurance Companies Are Refusing to Cover Hyundai and Kias Because They’re Stolen Too Much
Some vehicles from the Korean brands are remarkably easy to steal, and major insurers have had enough.
If your Hyundai or Kia uses a physical ignition key, it can be stolen with relative ease. As we've reported, a USB cable is all that's necessary to get away with a new car. It's a costly problem for police in cities such as Columbus, Ohio, and Denver. Insurers in these regions and others have now had enough. Insurance giants State Farm and Progressive are now refusing to insure many vehicles sold by the two Korean auto brands in those cities and others now.
In a statement to The Drive, Progressive confirmed that it was no longer issuing new insurance policies to "some" Hyundai and Kia vehicles in certain cities. "Due to the theft risk that some Hyundai and Kia vehicles present, in many cases it makes these vehicles difficult to insure, so in certain areas of the country we have adjusted our acceptance criteria for new business (there is no change for existing customers) on some of these models," the spokesperson said. "We’ll continue to monitor how this issue plays out and are hopeful to be able to revisit our decision as the theft risk diminishes and community awareness improves."..."
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