As you’ve probably seen or read in the news, thefts of Kias and Hyundais are still a widespread issue in our area. While theft of anything is distressing, this trend is taking it to the next level in the insurance world. The number of theft claims has gone up dramatically – as has the number of accidents that occur while the vehicle is in the possession of the thieves. As a result, the claims from these thefts are increasing the average cost of claims – between damage to the vehicle and injuries to others, there have also been unprecedented costs due to delays in repairs as a result of material and labor shortages. Couple that with the fact that rental reimbursement coverage is generally only available for up to 30 days and many people are absorbing additional costs out of pocket, too.
What can you do? If you have a Kia or Hyundai that does not have a key fob and push-button ignition, check the manufacturer's website to see if your car is eligible for anti-theft software upgrades (https://ksupport.kiausa.com/ConsumerAffairs/SWLD and https://www.hyundaiantitheft.com/). These websites also have some tips on how to prevent car theft.
It is worth noting that many carriers have suspended writing new business for certain year/make/models of these vehicles, or are not offering physical damage coverage for them.