Triple-I Blog | Online promotion of car theft techniques increases the pressure on insurance premiums

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Three anti-crime organizations Heard on YouTube All videos teaching people how to steal Kia and Hyundai automobiles should be removed. The National Insurance Crime Bureau (NICB), the Alliance Against Insurance Fraud and the International Association of Special Investigation Units (IASIU) made the request. Thefts will increase In these vehicles.

Highway Loss Data Institute (HLDI) Reported at the end of last year Bargain-priced Kia and Hyundai vehicles are being targeted for theft at similar rates as muscle cars and SUVs, according to an analysis of 2021 insurance claims. Because of the spike, stolen models do not have electronic immobilizers to prevent thieves from bypassing the ignition.

Some thieves have shared how-to videos – on YouTube and TikTok – on how to carry out the theft process using a screwdriver and a USB cable. Since the videos began appearing on social media, police departments across the U.S. have reported a sharp increase in Kia and Hyundai thefts.

In Chicago, for example, only 328 Kias were stolen in 2021, compared to more than 3,500 last year. CBS Chicago reported.

“Everyday consumers are learning new illegal tricks and techniques from criminals using social media platforms,” ​​said NICB President and CEO David Clave. “Some platforms are not doing enough to protect innocent victims from unnecessary harm.”

IASIU President Celeste Dodson added, “When a vehicle is stolen, it is often not the end of the crime, but the beginning. Auto thefts are associated with many criminal activities, including insurance fraud. The cost of these crimes is passed on to consumers through higher premiums.

Private-passenger auto insurance premium rates are experiencing upward pressure due to various factors, including:

  • increasing insured losses due to increasing accident frequency and severity;
  • More fatalities and injuries on the road, leading to increased lawyer involvement in claims;
  • Continued supply-chain problems lead to higher prices for cars, replacement parts and labor; And
  • More expensive vehicle repairs due to safer, more technologically advanced vehicles.

Theft of vehicles or parts Catalytic converters That pressure would only increase to raise rates.

The only way to reduce that pressure is to reduce claims and losses by reducing accidents and theft. Making it harder for people to learn how to break the law and cause damage by watching videos online would be a small but necessary step in that direction.

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