Insurance companies dropping new Kia, Hyundai policies
At least two major insurance companies are not issuing new policies in some areas for certain Hyundai and Kia vehicles. Here’s what drivers need to know.
If you own a vehicle from two manufacturers, you may not be able to have it insured by some major companies, a social media post claims.
“Major car insurance companies plan to drop Hyundai and Kia from their plans due to thefts!” the poster claimed in a viral tweet on Jan. 30.
Recent online search data also show that Hyundai and Kia drivers are looking for information about insurance policies.
THE QUESTION
Have some car insurance companies stopped covering Hyundai and Kia models due to thefts?
THE SOURCES
THE ANSWER
Yes, some car insurance companies have stopped covering Hyundai and Kia models due to thefts. The change applies to new policies, not those for existing customers.
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WHAT WE FOUND
Progressive and State Farm are not issuing new policies in some areas for certain Hyundai and Kia vehicles due to an uptick in thefts involving the cars.
Both insurance companies say they will continue to insure existing customers who own these types of vehicles.
Scott Holeman, a spokesperson for the Insurance Information Institute (III), also confirmed the institute is only seeing the suspension of new customer applications in some states, not the dropping of existing customers.
The insurance companies did not provide a list of vehicles that they will not insure right now. But a spokesperson for Kia said the impacted models include “2011 to 2021 Kia vehicles equipped with a steel ignition key for turn-to-start operation.”
Hyundai didn’t provide information about impacted models, but a spokesperson said in a statement that the company “regrets this decision by insurers and