Car insurance rates are falling - but not everywhere

"Average rates are up big time in some places, including New Jersey (+20%) and Washington, D.C. (+18%)."

""Insurers' margins are now high enough to absorb tariff-driven costs without raising prices," Insurify said. "Now, many insurers are cutting rates to attract and retain new customers.""

"Average full-coverage premiums will rise 1% this year, the report predicted - though U.S. tariff policy poses a "potential wrinkle" in such forecasting."

Average auto insurance rates increased sharply in some regions, notably New Jersey (+20%) and Washington, D.C. (+18%). Insurers' margins are now high enough to absorb tariff-driven cost increases without needing to raise prices. Many insurers are cutting rates to attract and retain new customers, generating downward pressure on prices. Forecasts indicate average full-coverage premiums will rise about 1% this year. U.S. tariff policy introduces uncertainty that could alter this projection if tariffs increase costs beyond current margin absorption. Regional variation remains significant, so local premiums may diverge markedly from the modest national average change.

Read at Axios