Companies such as Progressive and State Farm have reportedly rejected the new policy for owners of Kia and Hyundai vehicles.
2 hours ago
To Stephen Rivers
with some kia hyundai Owners have faced a serious risk of vehicle theft over the last few years. Now there are reports that even if you manage to avoid theft, you may face new problems. That’s insurance coverage. Clearly, major insurance companies choose to deny coverage rather than risk paying for stolen vehicles.
Last year, a social media post went viral showing that some Kia and Hyundai models manufactured between 2011 and 2021 could easily be stolen. South Korean car theft rate soars Whole country. In response, police departments, city officials, and others called on both owners and the automakers themselves to take action.
The two states most affected by the surge in theft are Colorado and Missouri. Now, according to reports from states, major insurers are categorically refusing to provide coverage if the customer in question has a vulnerable Kia or Hyundai model.
according to STLtoday, the same problem has taken root in St. Louis. Progressive “made the decision to stop offering new coverage in November,” said Jim Kahn, owner of Kirnco Insurance in St. Louis, which sells Progressive insurance. State Farm sales rep Josh Franklin confirmed that State Farm made a similar decision last November.
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These two providers and the new policy aren’t the only ones affected. Many current policyholders report that their premiums have increased dramatically.Other insurance premiums have increased insurance Worse, in some cases, these premiums are rising on less vulnerable vehicles.
Just one example is Jay Zunich, who told STLToday that he started shopping when insurance premiums went up about 25%. His Elantra uses push-button start, so it’s not as easy to steal as a model that’s largely affected by theft tendencies, but the company that provides him with coverage is more than he’s already paid for. will be charged even more.