State Farm said it has temporarily stopped providing new auto insurance policies for some model years and trim levels of Hyundai and Kia vehicles in some states after an analysis found some 2015-19 Hyundai and Kia vehicles lack protections to prevent theft
State Farm said it has temporarily stopped providing new auto insurance policies for some model years and trim levels of Hyundai and Kia vehicles in some states because of an increase in thefts for those cars.
State Farm didn't specify which types of Hyundai and Kia vehicles are affected, nor in which states it has suspended new insurance policies for the cars. But the decision comes after the Highway Loss Data Institutethat theft claims for 2015-2019 Hyundai and Kia vehicles were almost twice as high as compared with all other automakers.
"We take seriously our responsibility to manage risk and the impact of excess claim costs on all our customers," State Farm said in its statement."In this case, it became necessary to take action to protect our policyholders and our business.
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