Here’s why Trump tariffs may raise your car insurance premiums

Key Points

Annual car insurance premiums would rise by 8% in 2025 if tariffs on Canada and Mexico take effect, according to Insurify. They would rise by 5% without such duties, it said.
Trump proposed a 25% tariff on imports from Canada and Mexico, which may start in March.
Tariffs are expected to raise costs for cars and parts, making it more expensive for insurers to repair or replace automobiles after a wreck.

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Finance

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