Auto Insurers to Stop Writing Policies for KIA & Hyundai

Progressive and State Farm have announced they will stop insuring some Kia and Hyundai autos. A lack of the anti-theft specifics in models made between 2015 and 2019 is the reason.

Matt Moore of the Highway Loss Data Institute (HLDI) said his organization and the Insurance Institute for Highway Safety (IHHS) found there are twice as many thefts for those vehicles than the Dodge Charger SRT Hellcat.

“Car theft spiked during the pandemic,” Moore explained. “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.”

He said these vehicles don’t have the electronic mobilizers that deter theft which makes them very easy to take. All a thief has to do is break into the car and bypass the ignition.

Moore noted that once immobilizers are added to those cars, thefts “plunged.”

The report from the two entities said in 2015 close to 95% of all manufacturers had immobilizers installed in their vehicles. For these Kia and Hyundai models, the number is 26%.

Source link: MSN Money —

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