Florida Faces Fourth-Highest Auto Insurance Hikes if Tariffs Increase
Florida is projected to experience the fourth-largest increase in auto insurance costs nationwide if President Donald Trump’s proposed auto tariffs are implemented. According to a recent study by Insurify, an auto insurance comparison platform, Floridians could see their average annual auto insurance premiums rise by $126.
The Insurify analysis reveals that Florida will be among seven states with average annual auto insurance costs exceeding $3,000 if the tariffs take effect. Maryland is expected to face the highest increase at $163, followed by New York at $152, and South Carolina at $135. Delaware ranks fifth with a projected annual increase of $123.
The impact of the tariffs is expected to be felt across all new vehicles, both foreign and domestic. Insurify identified Buick, Hyundai, Kia, BMW, Mazda, and Lexus as the manufacturers that would be most affected, with potential price increases ranging from 17% to 22%. “Insurers are bracing for more expensive claims as tariffs raise costs for auto parts,” Mooney explained. “Tariffs could increase car insurance costs for all models, with new models facing larger increases, as more expensive cars are generally more costly to insure.”
The study also projects that the average annual cost of car insurance could reach $2,527 by the end of 2025, based on the latest tariff updates. Every state is expected to see some level of increase in auto insurance costs due to the trade fees.
As the situation develops, Floridians and vehicle owners across the country should be prepared for potential changes in their auto insurance premiums.
