S&P Global Mobility says there’s a 50% probability that the auto industry will experience an extended disruption period due to the tariffs. (Credit: vadimborkin/Adobe Stock)

President Trump’s tariffs on goods from Mexico and Canada will make vehicle repairs and new cars more expensive — putting pressure on insurers to raise auto premiums.

According to Insurify, a full-coverage car insurance policy averaged $2,313 per year in 2024, up 15% from the previous year. Even before tariffs, premiums were expected to increase another 5% in 2025.

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Corey Dahl

Corey Dahl is assistant editor with PropertyCasualty360.com. Reach her at [email protected].

Regulation/Legislation
Auto
Commercial Lines
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