Reported 2 days ago
Since President Trump resumed office in January 2025, his tariffs on imported vehicles and parts are expected to cause auto insurance rates to rise dramatically, potentially increasing by 280%. The tariffs raise the cost of vehicle purchases and repairs, as a significant portion of car manufacturing relies on overseas materials subject to these levies. As repair costs climb, insurance companies may raise premiums, which could lead to long-term financial implications for consumers.
Source: YAHOO