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HomeInsuranceTriple-I Weblog | Kia, Hyundai Autos Stolen at Report Charges

Triple-I Weblog | Kia, Hyundai Autos Stolen at Report Charges


Max Dorfman, Analysis Author, Triple-I

Cut price-priced Kia and Hyundai automobiles have begun being focused for theft at charges much like muscle automobiles and SUVs, the Freeway Loss Knowledge Institute (HLDI) has reported, based mostly on an evaluation of 2021 insurance coverage claims. The spike is due, partly, to the truth that the fashions being stolen don’t have digital immoblizers that cease thieves from bypassing the ignition.

“Automotive theft spiked through the pandemic,” stated Matt Moore, HLDI senior vice chairman. “These numbers inform us that some automobiles could also be focused as a result of they’re quick or value some huge cash and others as a result of they’re simple to steal.”

Ignition immobilizers are normal gear on virtually all automobiles of that classic made by different corporations. They had been normal on 62 p.c of fashions of different producers in mannequin yr 2000. By mannequin yr 2015, immobilizers had been normal on 96 p.c of different automobiles, however had been solely normal on 26 p.c of Hyundai and Kia automobile fashions.

“If it doesn’t have an immobilizer, it does make it considerably simpler to steal,” stated Darrell Russell, a former auto theft investigator who’s now director of operations, automobiles, on the Nationwide Insurance coverage Crime Bureau (NICB).

In Wisconsin, which was affected by these thefts sooner than most, losses from Hyundai-Kia thefts grew greater than 30 instances from the 2019 degree.

Motorcar theft continues to be a serious problem

In 2020, the FBI discovered that $7.4 billion was misplaced to motorized vehicle theft, with the typical greenback loss per theft at $9,166. A complete of 810,400 automobiles had been stolen that yr. The variety of automobiles stolen was up 11.8 p.c in 2020, from 724,872 in 2019. The NICB says the pandemic, financial downturn, lack of juvenile outreach applications, and public security budgetary and useful resource limitations had been key elements within the enhance of motor automobiles stolen in 2020.

Preventive measures are vital

The NICB recommends a layered strategy to forestall automobiles from being stolen that features:

  • At all times locking your doorways and eradicating your keys from the ignition;
  • Utilizing seen or audible units, like alarms and steering column brake locks;
  • Putting in a automobile immobilizer, like a kill swap or sensible key; and
  • Investing in a monitoring system.

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