Jalopnik website reports that Hyundai and Kia insurance rates are skyrocketing, even on models not susceptible to the infamous Kia boys “key-start” theft technique being promoted on TikTok.
“Now, even if people still want to buy the cars, despite the above, they can’t insure them. The St. Louis Dispatch reports that residents in the Missouri city area are finding that major insurance companies won’t cover them if they own a Hyundai or Kia, and existing policyholders face rising premiums” writes Jalopnik’s reporter.
Jalopnik continues, “Thefts of Hyundais and Kias in the St. Louis region have exploded since 2022. In the city itself, thefts increased from 273 to 3,958—an increase of 1,450 percent. Thefts in St. Louis county aren’t far off going from 140 to 1,621—an increase of 1,157 percent. Of course, insurance companies have taken notice. Residents who own Hyundais and and Kias that try to get a quote online are hit with denial messages. And its not from some small potato insurance company either. No, national companies like State Farm and Progressive are the ones denying coverage.”
As examples Jalopnik cites, “Owners who already have insurance coverage on Kias and Hyundais are facing quickly-rising insurance premiums. One resident who owns a 2016 Kia Soul found out his premium with American Family Insurance was $150 more for six months than when they bought it new. This locks owners in a bind they cant get out of: stuck with high premiums with their existing insurance, but unable to change insurers because most other companies will deny them. Another owner who drives a 2020 Hyundai Elantra saw his premium go up $200 even though is car is a keyless ignition.”
To read the Jalopnik article click here.