CHARLOTTE, N.C. — By now, you've probably heard about the Kia Challenge on social media that has resulted in the theft of hundreds of certain models, including in Charlotte. As a result, reports that insurance companies are reducing or stopping coverage caused consumers to be concerned.
According to recently released data from Insurify, the Kia challenge car models saw a 55% insurance hike since the social media trend started. By comparison, similar vehicles from other automakers saw a 51% spike in insurance.
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Chase Gardner, a data analyst at Insurify, told WCNC Charlotte that the viral challenge had only a slight effect on increasing rates.
"In aggregate, we're really not seeing too much of a strong effect," Gardner said.
The data analyst said insurance rates in North Carolina have gone up just 1% compared to similar car models since the trend took off.
"A lot of the other factors that determine car insurance have just been changing so rapidly recently, and are having a much stronger effect than this Kia and Hyundai challenge," Gardner said.
One factor is reckless driving, which Gardner said did not decrease as people returned to the roads since the height of the pandemic.
"So this is causing more accidents, this is causing a higher severity of accidents," Gardner said. "This coupled with inflation, which everyone is experiencing and is particularly impactful on car parts, car repairs, all of these factors are making accidents more common, making accidents more expensive."
The team at Insurify told WCNC Charlotte the price of car insurance should not be the main factor when considering keeping or buying a Hyundai or Kia model.
Just keep in mind that in North Carolina, insurance companies can choose not to cover certain vehicles. Some companies have stopped accepting new customer applications for certain Hyundai and Kia vehicles.
Contact Jane Monreal at jmonreal@wcnc.com and follow her on Facebook, X and Instagram.
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