Published 12 days ago • loading... • Updated 11 days ago

Protectionism will help push up insurance prices, says Lloyd’s of London chief

Car insurance costs in the U.S. Could rise due to tariffs implemented by President Donald Trump, adding to existing price increases.
Insurify projected that tariffs could raise the average annual cost of car insurance by 8% in 2025, increasing it from $2,313 to $2,502.
Without tariffs, Insurify estimated car insurance costs would still increase by 5% year-over-year.
Estimates indicate that auto parts imports from Canada and Mexico drive up car insurance prices, as parts account for about 60% of repair costs.

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Financial Times

Center

Protectionism will help push up insurance prices, says Lloyd’s of London chief

John Neal warns geopolitics and regulatory requirements will add to cost of policies

12 days ago·London, United Kingdom

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Fox5 DC

+11 Reposted by 11 other sources

Center

Tariffs will increase car insurance costs faster, analysis finds

Tariffs on Canada and Mexico may cause car insurance rates to rise faster, an analysis found. Here’s what the projections are showing.

12 days ago·Washington, United States

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Repairer Driven News

Boyd: Total losses not coming down, tariffs would positively affect business

Boyd Group Services investors were told Wednesday that the number of total loss vehicles coming into its shops hasn’t come down yet because used car prices haven’t increased enough. “As we’ve said on previous calls, we’re looking for the lines of collision claims and liability claims to start to come closer together again,” said Brian Kaner, Boyd’s president and COO. “We continue to see liability claims that are in a down-2% range, which is fair…

11 days ago

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Digital Insurance

Tariff-fueled car price hikes could create crisis of uninsured drivers

Increases in car prices in response to U.S. tariffs on foreign goods, potentially ranging from $3,000 to $12,000, has auto insurers ready to act. If premiums double, the increase in drivers going without insurance would force those with insurance to increase liability coverage.

12 days ago

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The Coastland Times

Kill Devil Hills commissioners oppose insurance rate increase - The Coastland Times

Most people spent more time getting to the March 10 Kill Devil Hills Board of Commissioners meeting than it took to sit through it. Due to a schedule conflict, a College of The Albemarle presentation was removed from the night’s agenda leaving an already short meeting even shorter. Speeding through the remainder of listed agenda items, the only actual business for commissioners was approval of a consent agenda and resolutions designating Child A…

12 days ago

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Canadian auto dealer

S&P Global updates its 3 auto industry outlooks amid tariff war

When the Trump administration imposed tariffs on Canada, S&P Global created three scenarios of how the situation might unfold, and how it would impact the automotive sector. They have since adjusted the outlook, with the analyst group expecting that the “posture, messaging and coverage of tariffs” on the auto sector through 2025 will be “erratic, with industry planning in a virtual gridlock.” S&P Global’s first scenario has the group expecting…

12 days ago

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