When she bought a new car last July, we found it cheapest to both be insured with GEICO. We were quoted $711 for every 6 months for both our cars, and added her to my policy (one policy, two cars, two drivers). This past December, my insurance went up to $946. I just received my most recent bill for the next 6 months, and its is $1019. This is 43+% increase within first year.
I followed up with GEICO if this was normal rate hikes or if perhaps my quote was for a different amount of coverage. Their response was:
Thankfully, there is a competition and switching costs with insurance is low. So I will shop around. But want to know if others have seen similar increases in premiums in the first year, especially with GEICO[From GEICO]
An increase in the number of serious accidents, as well as increasing costs associated with injury payments and auto repairs across the state, has led us to adjust premiums.
My wife and I have not filed any claims, have had any accidents or received any tickets. We reside in California if that matters.
Suggestions for other insurance companies to consider or sites to purchase insurance from are welcomed.