Hi,
I just bought my first car at age 30. It's a used car that cost 7800 and so far I always got away with driving other people's cars or I just didn't need one while living in the city. I also only received my first US driving license last month, never had a car in the US before nor auto insurance. I do, however, have a European driving license for the past 12 years which they asked me about in the online form. Similarly, for my wife, she is just about to do her US driving test and has had her UK driving license for the past 8 years - she is a few years older than me.
So, I checked with Geico regarding insurance options for a California resident. Online, I was quoted $240 for six months for $100K/$300K bodily liability coverage and $50K property damage, I declined everything else, that is no comprehensive etc.
This did not sound too bad, so I phoned them up and asked if they could increase the liability coverage. The highest limits they offer is $300K/$300K for liability and $100K for property damage which would increase the six month premium to $654!
Why don't do they do higher limits? I work in the tech industry with a very stellar salary and don't want to pay the rest of my life for one mistake in a serious accident because my insurance company wouldn't offer me a higher limit.
Also, why is my quote so high? I read of people paying 60-70% less for comparable coverage from Geico that is something like $240 for $300K/$300K liability and $100K property damage. Is this because I was never insured, just got my driving license, or what?
Could you recommend any other insurance companies which are worth phoning in my case?
I am not sure which way to go from here as I don't want to compromise on my coverage but also don't want to completely pay over the odds. Any advice is appreciated!
Michael
