Cheapest car insurance in Wyoming for 2024

Like in most states, car insurance is required in Wyoming. However, you may be pleasantly surprised to find out average annual rates are well below the national average. Here are some reference points that may help you determine if you’re paying a fair price:

But Bankrate’s insurance editorial team doesn’t stop at average. We partnered with Quadrant Information Services to obtain up-to-date premium information from major insurance carriers to see which were likely to be the cheapest car insurance companies in Wyoming. If you’re a bargain shopper, the following companies might be a good place to start.

Key takeaways

• Cheapest company for minimum coverage: Geico
• Cheapest company for full coverage: State Farm
• Cheapest company for drivers with prior incidents: State Farm
• Cheapest company for young drivers: Geico

Wyoming has the second-lowest population density in the entire country, only following Alaska. With less traffic and fewer narrow urban streets, it is statistically less likely that you’ll be involved in an accident in Wyoming. So, with infrequent insurance claim payouts to deal with, providers are actually able to offer cheap auto insurance in Wyoming for liability-only policies that satisfy the legal minimum coverage requirements.

Here’s a pricing breakdown of some of the cheapest carriers based on our analysis:

Minimum coverage requirements for Wyoming drivers

To drive legally in Wyoming, you must purchase at least the following minimum coverage:

• $25,000 bodily injury per person
• $50,000 bodily injury per accident
• $20,000 property damage liability per accident

As you can see in the chart above, those who opt for minimum coverage insurance generally pay some of the lowest premiums. And while it is statistically less likely that you’ll be involved in an accident in rural Wyoming than in downtown New York City, insurance professionals still usually recommend that drivers purchase coverage beyond the lowest acceptable limits. Because in the off-chance you cause an accident, you will be financially responsible for the damage and injuries that exceed your policy limits.

Minimum coverage also does not include any coverage for damage to your own vehicle. For that, you will need to add comprehensive and collision coverage. Adding those coverage types typically constitutes a full coverage policy. If you have a loan or lease on your vehicle, you likely have to carry full coverage per your lender’s requirements. You may also be required to carry certain liability limits in excess of the state minimum and have a cap on how high your deductible can be.

As we just finished discussing, investing in a full coverage policy can save you thousands of dollars in the event of a car accident. But this extra financial protection doesn’t have to break the bank. Based on our analysis of average annual rates from Quadrant Information Services, State Farm offers the most affordable full coverage policies in Wyoming. Check out its average rates alongside some of the other most affordable providers based on our analysis:

Wyoming drivers with prior incidents on their driving records are likely to pay more for insurance than those without tickets, accidents or DUIs. That’s because insurers view past offenders as more likely to engage in risky driving behaviors in the future and therefore more risky to insure. However, depending on the incident, some providers are more lenient than others with rate hikes.

• Cheapest car insurance for drivers with a ticket: State Farm
• Cheapest car insurance for drivers with an at-fault accident: Geico
• Cheapest car insurance for high-risk drivers: State Farm

Cheapest insurance companies for drivers in Wyoming with a speeding ticket: State Farm

Car insurance carriers typically charge higher rates for drivers who demonstrate risky driving practices, including speeding. Even a single speeding ticket may substantially raise your car insurance rates at renewal, but some carriers may raise rates more for a speeding ticket than others. The following insurers offer some of the lowest average premiums for drivers with a speeding conviction.

Cheapest car insurance for drivers in Wyoming with an at-fault accident: Geico

Like speeding tickets, accidents — especially at-fault accidents — typically result in a premium increase. Carriers usually see drivers who have been involved in an accident as riskier to insure, so they may charge higher rates to compensate for this risk. Based on Bankrate’s research, if you have an at-fault accident on your record, Geico tends to offer the cheapest price for minimum coverage. See the chart below to weigh your options.

Cheapest car insurance in Wyoming for high-risk drivers: State Farm

Although carriers may have different qualifications for drivers they classify as "high-risk," you may be designated as risky to insure if you have multiple speeding tickets, at-fault accidents or a serious infraction like a DUI. To assess rates for high-risk drivers, we looked at average premiums for drivers with a single DUI conviction. Note that some carriers may not write policies for drivers with a DUI (such as State Farm), so you may need to contact a carrier directly to inquire about its insurance options for high-risk drivers. State Farm and Allstate could be a good place to start per our analysis, but here are some other potential options.

While parents may enjoy cheap auto insurance rates in Wyoming, their children have to earn that privilege. However, even though rates may be inflated early on in one’s driving career, there are some ways to save by picking the right provider.

• Cheapest car insurance for insuring a teen driver: Geico
• Cheapest car insurance for teens with a ticket: Geico
• Cheapest car insurance for teens with an at-fault accident: Geico
• Cheapest car insurance for young drivers with a DUI: State Farm

Cheapest Wyoming car insurance for insuring a teen driver: Geico

Young drivers, who do not yet have extensive driving experience, are statistically more likely to be involved in car accidents than any other age group. As such, teen drivers pay some of the highest average car insurance rates.

Once teens age into their early 20s, they should see their rates decrease, provided they maintain a clean driving record. But in the meantime, young drivers may be able to save some money by asking their insurance provider about teen discounts or good student discounts.

Cheapest Wyoming car insurance for teens with a ticket: State Farm

Even if they were just trying to get to class on time, speeding is speeding. A teen with a speeding ticket on their driving record is likely to see quite an increase in their premium. Our research shows that State Farm and Geico could be good bets for cheap minimum coverage for teens with a ticket.

Cheapest Wyoming car insurance for teens with an at-fault accident: Geico

Teens are already considered high-risk drivers due to some of the reasons we mentioned earlier. But adding an at-fault accident to the mix only worsens a driver’s risk profile in the eyes of insurers. Per our analysis, Geico and State Farm may be worth getting quotes from to mitigate elevated rates in the wake of an accident.

Cheapest Wyoming car insurance for young drivers with a DUI: State Farm

As mentioned earlier, some companies won’t even offer coverage to drivers with a DUI. So, if you’re a young driver with a DUI conviction on your driving record, it’s safe to assume insurance will be expensive. That said, the following insurers may offer some of the cheapest rates, relatively speaking.

Most insurers offer at least a few discount opportunities, and many of them are simple to earn. Here are a few that you may find in Wyoming:

• Young driver discounts: Although among the most expensive to insure, young drivers may be eligible for discounts based on school attendance, good grades, driving courses and more.
• Safe driver discounts: Many providers offer discounts to drivers who have gone for some years (often three) without a claim or traffic violation. Some may offer such discounts based on telematics devices that monitor real-time driving behavior.
• Payment discounts: Auto insurance carriers often offer discounts in return for paying an entire year of premiums upfront or for choosing paperless billing.
• Bundling discounts: Insurance companies commonly provide discounts for bundling multiple policies together. For instance, buying your home and car insurance from the same company may give you a discount on both.
• Military discounts: Some insurers offer discounts specifically to military members and their families. Eligibility details and discount specifics will vary between providers.
• Vehicle-based discounts: Safety features such as anti-lock brakes, collision detection and avoidance, lane assistance and even anti-theft devices can net you a discount with many auto insurers.

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction. Young driver DUI rates are for 21-year-old drivers on their own policy; other young driver incident rates are for 18-year-old drivers on their own policy.

Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Teens: Rates were determined by adding a 16 year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.