My car insurance was just raised 200 dollars. 200 dollars in 6 months. I am going to look around but I am thinking that the reason they are going up so much is because a lot of parts come from Canada and the tariffs are increasing them.
Economists, researchers and analysts have warned that President Donald Trump’s sweeping trade policy of tacking steep tariffs on most goods that come into America will deliver a taxing blow to consumers via higher prices.
Trump seems thrilled with the revenue that the government is bringing in with the tariffs, which in his own idiosyncratic way he may see as ‘his money’. I really don’t know if he understands that the citizens he represents will be footing the bill eventually. And his economic advisors are not serving him well.
I’m expecting the same when my renewal comes. Same with house insurance. Tariffs are a tax. And the 0BBBA is expected to blow up nattty debt, so US $ is dropping. That is a double whammy, weaker dollar so imports cost more, tariffs so imports cost more.
Don’t see how this cannot be inflationary, but what do I know,lol.
My house insurance went down by about the same amount. I thought that was weird because the house insurance has been steadily climbing for 4 years but went down this year.
Where do you live? Insurance rates tend to be location specific.
DB2
I live in a rural town in Nevada that does not have any flood, fire, Hurricane, or Tornado problems. Although I do live close to Vegas which could be a problem. But I rarely go into Vegas.
The OBBBA will definitely blow up natty debt. Weakening the dollar may be exactly what the geniuses in charge want.
Is the dollar's drop a sign of America's financial decline? : NPR.
Welp, I feel sorta helpless. The only thing I can do is blow up some Natty Dub - Happy Friday!
From 2023…
Nevada has one of the fastest-rising vehicle insurance rates in the nation, and experts blame a array of causes.
DB2
That all should be mitigated by where you live in Nevada. The only one that could have a factor that most of the rest of the country does not, would be the number of people coming to Nevada.
How much did your auto insurance go up this year?
My car insurance went up $200 but I added a second car to the policy. When I sell my first car the policy will drop by about $150. The new more expensive car will take the policy only up $50.
USAA is the best insurer in the country, but not everyone see it my way. Not everyone discloses why they dont. For instance if you total a vehicle your insurance can sky rocket. Most people will not query their carrier for how long their rates will be much higher. Other insurers poach people who do not want the higher new rates. If you do not query USAA for how long your rates will be higher and you move to a different insurer without querying, you’d be a fool. USAA only keeps rates after a major accident higher for about 3 years. GEICO about 10 years.
I am with Geico and they give my wife and I a 100 dollars off for not having any accidents.
Andy,
I’ll give you another one. I have $46 addon to my USAA policy on the replacement cost adding 20% to the payout if my car is totaled.
People do not know, you do not get a full replacement cost payout from insurers.
adding for me Geico is more expensive and always has been.
I realize that and is why I only have liability on my vehicle. It is a 2008 with 90,000 miles so I can cover it out of pocket if I need a new vehicle. My wifes car is a 2018 toyota rav 4 with 35000 miles with full coverage.
The last time I check in my area it was the cheapest but that was 10 years ago, I need to check again and see what it is. Geico stopped insuring homes and dropped that insurance so that could be another reason for my increase.
Can you get USAA? Worth checking with them if you can. They are pretty much a non profit.
Car repair costs have been skyrocketing long before tariffs. At least from the Covid era.
Insurance companies are quick to total a car and sell it for scrap rather than pay for repairs. Even a minor scrape often starts at $3k and up.
It’s easy to total any vehicle worth less than $15k. EV parts are hard to get. Car will be in shop for a long time. Rising labor costs. Fewer willing to do the work. Training more difficult and lots more like computer repair.
The industry seems headed to throw it away and buy new. Insurance industry is merely following the trend.
Yes I can, When I check I will include them.
That is true but the Tariffs are not helping the situation. A 30% increase in 6 months is a jolt.
Ahh that makes me feel better. I guess a 30% increase in insurance really isn’t that bad after all. Oh hang on I do not see insurance on that list.
