Saturday, July 19, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Innovation

These Two Cars Are Stolen So Often Insurance Won’t Cover Them

by Riah Marton
in Innovation
These Two Cars Are Stolen So Often Insurance Won’t Cover Them
Share on FacebookShare on Twitter


Hundreds of Kias and Hyundais have been stolen in the U.S. in the past few months, causing some major insurance companies to drop their coverage of the vehicles, claiming they’re too easy to steal.

2015 Hyundai Santa Fe

Car thieves, with names like the “Kia Boyz,” have preyed upon some Kia and Hyundai cars, manufactured between 2011 and 2019 as part of a social media trend called “keyless car thefts.”

As a result, some major insurance carriers such as Progressive and State Farm are refusing to insure these cars in select cities where the theft is rampant, like Denver and St. Louis, according to CNN.

2016 Kia Soul

“State Farm has temporarily stopped writing new business in some states for certain model years and trim levels of Hyundai and Kia vehicles because theft losses for these vehicles have increased dramatically,” the insurer told CNN. “This is a serious problem impacting our customers and the entire auto insurance industry.”

According to the Highway Loss Data Institute, some Hyundai and Kia models built between 2015 and 2019 are almost twice as likely to be stolen as other cars of a similar age. What makes them so easy to steal? Many lack anti-theft technology, which was standard in 96% of other cars during that period.

Related: Tesla Owners Beware: Your Car Could Get Hacked With a $340 Device You Can Buy Online

Blame social media

Police believe the thefts have been on the rise after videos appeared on social media showing how to start these cars without the use of a key.

The criminals bypass ignition cylinders, allowing them to start and drive off with the car. Robbers shoot videos of themselves stealing cars in mere seconds.

Kia and Hyundai respond

Kia and Hyundai have since added anti-theft devices to all their newer vehicles. For those with older models, Hyundai offers a security kit that customers can install to keep the thieves at bay. The kit can be purchased at Hyundai dealerships and authorized installers. Hyundai is also offering a free software update beginning next month that will reduce theft.

Both companies are working with police to offer free steering wheel locks to vehicle owners. Check with your local dealer.



Source link

Tags: Business Newscar insuranceCar theftCarsCoverhyundaiInsuranceKia MotorsNews and TrendsStolenTheftWont
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
Top Stories of January 2023

Top Stories of January 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2024 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In