Spokane, WA – Car insurance premiums are projected to rise by 4% or more by the end of 2025, according to a report from Insurify. Chase Gardner, Data Insights manager at Insurify, shared that the average American’s car insurance cost could increase from about $2,300 to $2,400 annually.
Gardner explained that while premiums have been stabilizing after steep increases due to the COVID-19 pandemic, they are expected to rise again. “Prices could rise up to as much as 7% by the end of the year,” he said. Factors like tariffs on auto parts and cars could drive these increases.
In Washington, drivers are currently paying slightly lower than the national average at just over $2,000 annually. Gardner noted Washington’s isolation from severe weather events, such as hurricanes, contributes to its lower rates. However, wildfires could impact insurance costs if they occur in urban areas, Gardner mentioned.
Residents are advised to consider potential increases in their financial planning. “It’s good to keep in mind that prices might be an extra $50 here or there,” Gardner stated. As the insurance industry continues to monitor the effects of tariffs, drivers should remain vigilant of potential cost changes.
For more information, interested readers can review Insurify’s full report on projected insurance trends.
