BLOOMINGTON, Ill. – Bloomington-based State Farm says it will no longer insure some older model Kia and Hyundai vehicles.
The affected vehicles, according to media reports, are any made between 2015 and 2019 that don’t have immobilizers — preventing the vehicle from starting if the key isn’t present.
“State Farm has temporarily stopped accepting new customer applications in some states for certain model years and trim levels of Hyundai and Kia vehicles because theft losses for these vehicles have increased dramatically. This is a serious problem impacting our customers and the entire auto insurance industry,” said Sevag Sarkissian, from State Farm’s public affairs department, in a statement to 25 News.
Progressive reportedly has also stopped insuring such vehicles.
The move reportedly only applies to new policies, according to both Progressive and State Farm.
