MEMPHIS, Tenn. — Major insurance companies Progressive and State Farm announced they will no longer write new policies for certain older models of Hyundai and Kia vehicles. The companies announced they are dropping their coverage for older model Hyundais and Kias built between 2011 and 2020 because they lack effective “anti-theft” capabilities called “immobilizers” and are “hot targets for thieves, too hot to insure.” WREG reported in 2022 that Hyundais and Kias topped the list of the most stolen cars in Memphis. Auto thefts up more than 100% in Memphis this year Progressive provided a statement explaining their decision and said they will continue to cover current customers that own those vehicles. Progressive is committed to providing affordable insurance solutions. During the past year we’ve seen theft rates for certain Hyundai and Kia vehicles more than triple and in some markets these vehicles are almost 20 times more likely to be stolen than other vehicles. Given that we price our policies based on the level of risk they represent, this explosive increase in thefts in many cases makes these vehicles extremely challenging for us to insure. In response, in some geographic areas we have increased our rates and limited our sale of new insurance policies on some of these models. We continue to insure existing customers who own these types of vehicles, however, have taken steps to communicate this elevated risk to them and provide them with tips to try and prevent their vehicles from being stolen. We’ll continue to monitor how this issue plays out, and if we see a change in theft rates to more typical levels, we’ll adjust our pricing and acceptance criteria accordingly. State Farm added the problem is critical, saying: “We take seriously our responsibility to manage risk and the impact of excess claim costs on all our customers. In this case, it became necessary to take action to protect our policy holders and our business. We are monitoring this situation very closely and will adjust our approach as appropriate.” ‘Kia Boys’ driving auto thefts, Memphis chief says Memphian Melanie Hailey owns a 2017 Hyundai Elantra and was shocked to hear her policy from her with Progressive Insurance may rise in price. “They haven’t told us nothing. They haven’t sent us a letter or nothing over the mail to tell us about it,” Hailey said. “As a customer, if I pay you almost four hundred dollars a month for my insurance, you should tell me something.” In the meantime, Hailey just wants to keep her car safe and her insurance at the price she currently pays. “Because I put a tracking device on it as well too, but I still got to have my insurance because I have to have my insurance to drive,” she said. Neither State Farm nor Progressive lists specific makes or models of Hyundai and Kia vehicles impacted by their announcement. They also don’t name states that will likely be affected. Close Modal Suggest a Correction Suggest a Correction