What’s happening behind the scenes (and how you can keep more money in your pocket)
Many drivers expected 2025 to bring some much-needed relief from rising auto insurance rates. But while inflation is easing and used car prices are stabilizing, premiums are still staying high – or creeping higher. Why?
One surprising factor: proposed tariffs on imported vehicles and car parts.
What’s changing
New tariff proposals could drive up the cost of parts and repairs, adding an estimated $31 to $61 billion in annual claims costs for insurers. That means even small fender benders could get a lot more expensive to cover.
Insurers are watching closely – and some are already building these anticipated costs into their pricing models. That’s why your premium might stay put (or go up), even if your driving habits haven’t changed.
What you can do
While you can’t control global policy decisions, there are a few things you can do to take control of your rate:
- Ask about discounts – Good driver? Good student? Bundling home and auto? Don’t leave savings on the table.
- Review your coverage – If you’re driving an older car, you might be paying for coverage you no longer need.
- Stay claim-free – A clean record still goes a long way when it’s time to renew.
At Rize Credit Union, we’re keeping a close eye on industry trends to help you make smart, informed decisions. Whether you’re reviewing your policy or shopping for better value, we’re here to help you navigate it all – with confidence.
Did you know we offer insurance? From auto to home and more, we’ve got you covered. Let’s make sure your coverage works just as hard as you do.