How to Buy Insurance / We sliced the data to find out why

700,000 Auto Insurance Quotes Show Why You Can't Insure a Kia

Coverage Cat generated 700,000 car insurance quotes to show why some insurers refuse to cover Kias and Hyundais.

Written by: Max Cho Reviewed by: Max Cho, Licensed Insurance Broker NPN 20377411

Major insurers are refusing to insure some Kia and Hyundai cars. We ran 700,000 auto insurance quotes to compare the cost for insurance for Kias to find out why:

Kia car insurance is the same price as insurance for other cars, but Kias are getting stolen more, so their insurance ought to cost more.

Insurance prices are supposed to reflect risk, but when risks change, the price needs to change, otherwise insurance companies lose money.

Since prices haven't caught up yet, some insurers are just flat out refusing to sell you insurance for your Kia at any price.

Why can’t insurers change their prices?

But why would they refuse to sell insurance, rather than just increase prices to reflect the increased risk? 

The answer lies in regulation. A normal store can change its prices on a whim, but insurers need to request rate changes with each state regulator, a formal process that can take significant time and effort. Insurance regulators require that car insurance carriers can't change prices without first gaining their approval

Insurance prices are weird. Explore for yourself.

At Coverage Cat, we believe consumers could buy better insurance if it was easier, and prices were more public. That’s why we make our auto insurance dataset public — so you can instantly see thousands of prices.

Want help getting the best insurance for your situation?

Coverage Cat uses data and software to find you the perfect set of insurance for your needs. We optimally match policies and prices to your unique financial situation. Try Coverage Cat — we're free to use and will never spam or call you.


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