Insurance Companies are Refusing To Cover Hyundai and Kia vehicles owing to their high likelihood of being stolen
Insurance Companies are Refusing To Cover Hyundai and Kia :- A social media post showcasing how simple it was to steal Hyundai and Kia vehicles manufactured between 2011 and 2021 went viral last year. Theft of these vehicles increased dramatically across the USA, prompting police departments and local authorities to demand action from both owners and the manufacturer.
As a result, the majority of significant insurance providers are declining to provide coverage for such high-risk Hyundai & Kia vehicles. Media sources claim that insurance firms in Colorado and Missouri, the states with the largest increase in thefts, are outright refusing to insure customers who drive a susceptible Hyundai or Kia model.
According to reports, the insurance company Progressive reportedly notified a Denver TV station that they prohibited extending coverage on specific Hyundai and Kia models due to the alarming rate at which these cars were being stolen. According to reports, the corporation decided in November of last year to stop providing new plans for specific models produced by Korean manufacturers.
Several insurance companies are said to have sharply raised the cost of their new plans. Even for less risky automobiles, it appears that other insurance providers have raised their rates. Even for Hyundai and Kia vehicles, which are not easily stolen, these rates are estimated to have increased by almost 25%.
Author Of Solvefinancewithca.com
Hi, my name is Sandeep Mittal and I have been working as a Chartered Accountant in the finance industry for the last 5 years. With my experience, I have gained knowledge about various aspects of finance, such as financial planning, investment strategies, taxation, and accounting.
I am passionate about finance and I want to help people achieve their financial goals. So, I have started a blog called “Solvefinancewithca”. Through this blog, I will share practical advice on finance-related topics like personal finance management, investment planning, tax planning, and accounting best practices.
My goal is to provide solutions to common finance-related problems that people face in their daily lives. I want to make finance easy to understand for everyone and provide honest and impartial advice that is tailored to the needs of my readers.
In summary, my blog “Solvefinancewithca” is about sharing my passion for finance and helping people make informed decisions about their finances.
