A new report by the Insurance Institute for Highway Safety provides good news for some Hyundai and Kia owners, while Chevrolet Camaro owners received some unwelcome information.
According to the Insurance Institute for Highway Safety, software updates to Hyundai and Kia models prone to theft are helping to reduce theft rates. Nearly 8 million vehicles were sold without an immobilizer, a security device that prevents a car from being started without the correct key present, thereby deterring theft by hotwiring.
This situation resulted in numerous lawsuits from consumers and government agencies. Hyundai and Kia ultimately issued a recall to address the issue.
According to the Insurance Institute for Highway Safety, whole-vehicle theft claims were 52 percent less frequent for Hyundai and Kia vehicles with the upgrade compared to those that have not been updated.
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However, the Insurance Institute for Highway Safety pointed out that as of late 2024, fewer than half of eligible Hyundai and Kia models have been upgraded. The organization stated that 2011-2022 Hyundai and Kia models are still being targeted by thieves.
“This intervention showed dramatic results right off the bat, offering owners some peace of mind,” said Matt Moore, chief insurance operations officer at HLDI and the Insurance Institute for Highway Safety. “Owners who still haven’t gotten the software upgrade should do so immediately, as it’s the best way to protect their vehicle."
However, for owners of the Chevrolet Camaro ZL1 and other luxury sports cars, they face some of the highest risks of theft.
The Chevrolet Camaro ZL1 is 39 times more likely to be stolen than the average vehicle, followed by the Acura TLX 4WD, which is 21 times more likely to be stolen. The standard Chevrolet Camaro is about 12 times more likely to be stolen than a typical vehicle.
“We expect powerful and high-value vehicles to be targeted, and these models check both those boxes,” Moore said. “But it stood out to us that Camaros that were nearly 10 years old had such high claim frequencies.”
The list of vehicles least likely to be stolen includes plug-in electric and hybrid vehicles, with three Tesla models topping the list.
The Insurance Institute for Highway Safety noted that these vehicles are most likely to be parked in garages or near buildings, making them less prone to theft.
The Volvo XC90 4WD was considered the least likely to be stolen among gas-powered vehicles.
