A report has revealed that higher sticker prices on new and used vehicles aren’t the only cost increases that automotive consumers face after President Trump’s 25% tariff on auto imports. American insurance comparison shopping website Insurify’s forecast says that tariffs on Canada and Mexico may cause car insurance rates to rise 60% faster, with coverage costs increasing 8% by the end of this year—up 3% from the original projection with no tariffs. This figure in cash would represent an increase of $2,313 to $2,502.
