We expect certain actions will have certain effects: For example, when President Donald Trump imposes double-digit tariffs on imports from nearly every country in the world, we shouldn't be surprised that prices would go up on material goods. But a new report suggests we may see price hikes in non-material goods, too.
"Initially, car insurance companies looked at 2025 as a year to keep insurance rates stable, or even cut them, after years of premium increases," according to a new report from the insurance comparison site Insurify. "Tariffs and inflation could derail that trend. Some insurers may have already accounted for tariffs when setting rates, while others may have to raise rates if tariffs increase the cost of claims."
At first, this may be a surprise. After all, what do tariffs have to do with an intangible good like insurance?
