Triple-I Blog | Online Promotionof Car-Theft Techniques Adds to Upward Pressure on Insurance Premiums

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Triple-I Blog | Online Promotionof Car-Theft Techniques Adds to Upward Pressure on Insurance Premiums


Triple-I Blog | Online Promotionof Car-Theft Techniques Adds to Upward Pressure on Insurance Premiums

Three anti-crime organizations have requested YouTube to take down all movies that educate individuals tips on how to steal Kia and Hyundai vehicles. The organizations – the National Insurance Crime Bureau (NICB), the Coalition Against Insurance Fraud, and the International Association of Special Investigation Units (IASIU) – made their request in response to a spike in thefts of those automobiles.

The Highway Loss Data Institute (HLDI) late final yr reported that bargain-priced Kia and Hyundai automobiles have been being focused for theft at charges much like muscle vehicles and SUVs, based mostly on an evaluation of 2021 insurance coverage claims. The spike is due, partially, to the truth that the fashions being stolen don’t have digital immoblizers that cease thieves from bypassing the ignition.

Some thieves have even made tutorial movies – shared on platforms like YouTube and TikTok – on tips on how to carry out the theft process utilizing only a screwdriver and a USB cable. Since these movies began showing on social media, police departments throughout the U.S. have reported drastic will increase in Kia and Hyundai thefts.

In Chicago, for instance, the place solely 328 Kias have been stolen in 2021, greater than 3,500 have been stolen final yr, CBS Chicago reported.

“Everyday consumers are being victimized by criminals using social media platforms to learn their newest illegal tricks and techniques,” stated David Glawe, president and CEO of the NICB. “Some platforms are not doing enough to protect innocent victims from unnecessary harm.”

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

Private-passenger auto insurance coverage premium charges are experiencing upward strain resulting from quite a lot of elements, together with:

  • Rising insurer losses resulting from growing accident frequency and severity;
  • More fatalities and accidents on the highway, resulting in elevated lawyer involvement in claims;
  • Continuing supply-chain points, resulting in rising prices for vehicles, alternative components, and labor; and
  • More pricey auto repairs resulting from safer, extra technologically subtle automobiles.

Thefts of automobiles or elements like catalytic converters solely improve that strain to boost charges.

The solely approach to flip that strain down is to scale back claims and losses by lowering accidents and thefts. Making it more durable for individuals to discover ways to break the legislation and trigger injury by watching on-line movies could be a small however wanted step in that path.   

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