ST. LOUIS — Two major insurance companies have refused to issue new policies on some Kias and Hyundais in the St. Louis region as theft rates of those vehicles remain high following last year's surge.
In a seemingly unprecedented move, insurance behemoths such as Progressive and State Farm are declining to open new policies on Kias and Hyundais altogether, while drivers with existing plans are stuck paying increasingly high premiums.
"I've been in this industry for 15-plus years. It's hard to call a precedent for this," said Michael Barry, spokesman for Insurance Information Institute, a consumer education organization.
