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

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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