Trending Insurance News

Insurance not accepting customers, raising rates because of Kia, Hyundai models

Insurance not accepting customers, raising rates because of Kia, Hyundai models


LAS VEGAS (KTNV) — If you own a Kia or Hyundai, getting insurance may become more challenging. Ongoing car thefts related to these vehicles have prompted car insurance companies to take action.

“It’s not our fault that they made their cars so easy to get broken into,” said Las Vegas resident Valerie De La Torre.

Some car insurance companies are turning customers away and raising rates for those who own certain Kia and Hyundai models because of a spike in car theft crimes.

CHALLENGE: Las Vegas police warn Kia, Hyundai drivers of theft because of social media challenge

“I was outside talking to my neighbor, we were talking about how his car was vandalized, and then a couple of weeks later, it was stolen. The next morning, I come out and go to work; my Hyundai is stolen,” said Las Vegas resident Alicia Prater.

According to the Las Vegas Metropolitan Police Department, a staggering 531 Kias and 823 Hyundais were stolen in the first three months of this year.

Representatives with State Farm and Allstate told Channel 13 they’ve stopped accepting new customer applications in some states, including Nevada, for certain Hyundai and Kia vehicles.

RECALL DEMAND: 17 states demand feds recall Kia, Hyundai vehicles over thefts

In a statement to Channel 13, State Farm addressed the reasoning behind the decision, saying, quote: “We take seriously our responsibility to manage risk and the impact of excess claim costs on all our customers. In this case, it became necessary to take action to protect our policyholders and our business.”

Allstate echoes similar sentiments: “We continue to support existing policies for Kia and Hyundai vehicles but have paused new coverage of select model years in certain states due to unusually high theft risk.”

Drivers say they will feel the impact in their pockets.

“I’m a single mom with two kids, no assistance because I make too much. Just in general, this inflation is crazy. So yes, I’m terrified,” De La Torre said.

VIDEO: Users exploit a security flaw to steal Kias, Hyundais easily

Insurance companies encourage anyone with questions or concerns to contact their car insurance agents.





Source link

Exit mobile version