UPDATE 2/9/2023: The car manufacturers and insurance companies have not confirmed which states will impacted by the change, however, Progressive and State Farm will not be issuing new policies in some areas for certain Hyundai and Kia vehicles due to increased thefts involving the cars. Both insurance companies stated they will continue to insure existing customers who own these vehicles and agencies reported only seeing the suspension of new customer applications in some states, and not the dropping/cancellation of existing customers with the affected vehicles. From 2021 to 2022, thefts of Kia and Hyundai cars increased by 363% and 503% And by September of 2022, the Insurance Institute for Highway Safety (IIHS) showed Kia and Hyundai now rival muscle cars and luxury SUVs as top targets, a Highway Loss Data Institute analysis of 2021 insurance claims shows. Among newer models, whole vehicle theft claims were highest for the Dodge Charger SRT Hellcat, relative to its numbers on the road over 2018-22. But among 2015-19 model-year vehicles, theft claims were nearly twice as common for Hyundai and Kia vehicles as a group as for all other manufacturers, according to a recent HLDI report. Many 2015-19 Hyundai and Kia vehicles lack electronic […]
The post Two Insurance Agency’s to No Longer Issue New Polices for Certain Hyundai and Kia Vehicles Due to Theft Rates appeared first on Southern Maryland News Net.
Source: https://smnewsnet.comNew feed
Be First to Comment