Tariffs proposed by President Trump on imports from Mexico, Canada, and China are projected to raise building material costs, further driving up homeowners’ insurance premiums. “There are going to be material impacts on the price of the affordability of housing, and that means there are going to be impacts on homeowners’ insurance costs,” said Robert Hartwig, a professor at the University of South Carolina. Rising reconstruction costs—fueled by inflation, labor shortages, and disasters like the California wildfires—have already placed significant strain on insurers and homeowners alike. Additional pressures, such as increased labor demands and potential immigration crackdowns, will likely result in higher costs being passed on to policyholders, Hartwig noted. For further details, click here or access the full article through the PDF below.
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