Major insurers mull to drop two car models’ coverage due to thefts

Major insurers mull to drop two car models’ coverage due to thefts

New York (Web Desk): At least two major automotive insurers are refusing to protect certain Kia and Hyundai models because they lack anti-theft common in today’s cars.

According to reports, the nsurers no longer write policies for some Kia and Hyundai models manufactured between 2015-2019.

In September 2022, the Insurance Institute for Highway Safety, or IHHS, and Highway Loss Data Institute reported that vehicle theft claims for 2015-19 Hyundai and Kia vehicles were nearly twice as common as the Dodge Charger SRT Hellcat.

“Car theft spiked during the pandemic,” HLDI Senior Vice President Matt Moore said in the report. “These numbers tell us that some vehicles may be targeted because they’re fast or worth a lot of money, and others because they’re easy to steal.”

The report also noted that the Hyundai and Kia vehicles being stolen lack electronic mobilizers that can hinder a thief’s ability to steal a car from just breaking into the car and bypassing the ignition. Once immobilizers were added to the cars, Moore said, vehicle thefts of Kias and Hyundais “plunged.”

The report also notes that immobilizers were standard in 26 percent of Kia and Hyundai vehicle models in 2015, but standard in 96 percent of all other manufacturers.