Kia and Hyundai Owners Could Get up to $6,125 From Car Theft Class Action Settlement
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Korean automakers Kia and Hyundai count themselves among the most celebrated car brands in America. But over the last year, the auto giants have gotten into hot water for a wave of car thefts targeting their vehicles. Now, owners of the nine million affected cars will have a chance to collect thousands of dollars each in the aftermath of the security breakdown.
On Thursday, Kia and Hyundai agreed to a $200 million class action settlement for those who fell victim to the qualifying car thefts. The automakers are also providing free installations of anti-theft features for people who own affected vehicles. However, owners may still encounter challenges finding affordable auto insurance (or any coverage at all) for affected vehicles.
Who is eligible for money in the Kia-Hyundai theft settlement?
According to the terms of the $200 million settlement, Kia and Hyundai will be paying out $145 million to compensate for out-of-pocket losses suffered by vehicle owners whose cars were stolen and damaged or unrecovered. The settlement applies to over two dozen vehicle models manufactured between 2011 and 2022, including popular models like the Hyundai Elantra, Kia Sportage and Hyundai Sonata.
