Drew Dixon
With President Donald Trump floating increased auto tariffs, the impact on Floridians could be costly.
Insurify, an auto insurance comparison and advisory company, completed a recent study on the impact from auto tariffs. The analysis concluded that Sunshine State vehicle owners will see the fourth-highest increase in auto insurance prices in the country if the tariffs are increased.
Floridians will likely see an average annual surge of $126 for auto insurance per policy. And Florida is among seven states that the Insurify study found would have overall average annual auto insurance costs exceeding $3,000.
Maryland would see the highest tariff impact, with a $163 increase in insurance costs. That’s followed by New York at $152 and South Carolina at $135. Delaware follows Florida in fifth, with a projected annual hike of $123.
The Insurify study found every state will see hikes to some degree by the trade fees.
“Meanwhile, Insurify projects that the average annual cost of car insurance could rise to $2,527 by the end of 2025, based on the latest tariff updates,” the study said.
The main reason auto insurance prices will increase is because tariffs are going to raise the price of vehicles. If the tariffs are enacted, the Insurify analysis said the average sales price of a new car could rise an average of some 15% for the 100 best-selling new cars this year. That would translate into a 6% rise in insurance costs.
“Insurers are bracing for more expensive claims as tariffs raise costs for auto parts,” said Mallory Mooney, Director of Sales and Service at Insurify. “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 tariffs would likely jack up prices for all new vehicles sold this year both foreign and domestic. Insurify said the makes most impacted would be Buick, Hyundai, Kia, BMW, Mazda and Lexus, with price increases ranging from 17% to 22% on those makes.
