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%.
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