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.
