Overview

• Insurify forecasts national average full-coverage premiums will climb 4–7 percent by the end of 2025, lifting the average annual cost to as much as $2,502.
• Drivers in Michigan, already paying about $3,131 annually, could see premiums jump as much as 19 percent if tariffs persist.
• Late July trade agreements trimmed some auto parts tariffs from 25 percent to 15 percent for imports from Japan, South Korea and the European Union.
• Since January 2020 overall car insurance costs have surged 56 percent amid rising repair, medical and legal expenses and a 57 percent increase in liability claims.
• Insurers warn that further trade policy changes and state regulatory responses could either temper or intensify pressure on rates.