If you drive a Hyundai or Kia, your car insurance may be in jeopardy due to heightened levels of theft. Major insurers like State Farm and Progressive have stopped coverage on certain models as result — leaving drivers with either no protection at all or facing higher premiums for similar coverage.
Why is this happening?
Hyundai and Kia cars have faced a startling increase in auto theft, nearly double that of other cars. The easy-to-follow instructional videos on social media as well as their vulnerability to break ins are major contributors to this security risk - making it harder for drivers to protect themselves and their vehicles.
Is my car affected?
We don’t know. Neither Progressive or State Farm listed specific models or states that will be affected but CNN reported the companies have stopped offering insurance on vehicles in Denver and St. Louis. We do know the thefts are mainly among Kia cars newer than 2011 and Hyundai cars newer than 2015.
What can I do?
1. Protect your vehicle with a steering wheel lock. Hyundai and Kia are reportedly both looking into updating software to prevent theft of targeted vehicles.
2. If your insurance company drops you, shop around. It’s the only way to make sure you are getting the most competitive price.
3. If you are financially able, look into getting a new vehicle. This problem is not going away and you may end up saving money in the long run.
4. This isn’t your fault. You didn’t do anything wrong. You probably thought you were getting a safe vehicle. Feel free to call us or use our live chat if you have any more questions.