265/70R16 is 1.10" taller than 245/70R16, a +3.74% change in diameter. That is more than the 3% many tire shops use as a limit, so plan on recalibrating the speedometer and checking ABS and stability control.
Ground clearance changes by 0.55" (half the diameter change), and the tire needs 0.55" more room above it.
265/70R16 is 0.79" wider. On the same wheel offset about half of that, 0.39", moves toward the suspension and half toward the fender.
Both fit a 16" wheel; the sidewall is 0.55" taller on 265/70R16.
Details: 245/70R16 in inches · 265/70R16 in inches · change sizes in the calculator