State Farm says it has stopped insuring some Kia, Hyundai vehicles

State Farm said it has temporarily stopped providing new auto insurance policies for some model years and trim levels of Hyundai and Kia vehicles in some states because of an increase in thefts for those cars. 

"This is a serious problem impacting our customers and the entire auto insurance industry," a State Farm spokesperson said in an email to CBS MoneyWatch. 

State Farm didn't specify which types of Hyundai and Kia vehicles are affected, nor in which states it has suspended new insurance policies for the cars. But the decision comes after the Highway Loss Data Institute found that theft claims for 2015-2019 Hyundai and Kia vehicles were almost twice as high as compared with all other automakers.