Tariffs could drive Oregon car insurance costs higher

Car insurance rates in Oregon could rise by more than 6% due to tariffs, a new projection finds.

Why it matters: The analysis shows one more way that Americans pay for higher tariffs.

Driving the news: The average annual cost of full-coverage car insurance in Oregon could rise by 6.11% between June and December if tariffs stay in effect, compared to 3.08% otherwise, per a new report from insurance-comparison platform Insurify.

Zoom in: In raw terms, the average yearly cost in Oregon could hit $1,893 with tariffs, compared to $1,784 without them, per the report.

Between the lines: Tariffs affect insurance rates by increasing the costs of imported parts needed for repairs.

• Inflation, accident frequency, and claims due to extreme weather also impact rates, among other factors.