Cheapest car insurance in Wyoming for 2021
As of 2019, there were about 424,000 licensed drivers in the sparsely-populated state of Wyoming. The state had 14,885 total traffic accidents in the same year, causing 3,488 injuries and 147 fatalities. Finding cheap car insurance in Wyoming is more important than simply fitting your premium into your monthly budget. Car insurance can help to protect your finances from the repercussions of an at-fault accident.
Wyoming drivers pay an average of $271 annually for minimum coverage and $1,495 annually for full coverage, which is lower than the national average annual premiums of $565 and $1,674 respectively. Bankrate’s insurance editorial team has researched the cheapest car insurance in Wyoming to help you find coverage that fits your needs and budget.
The cheapest car insurance in Wyoming
Like in most states, car insurance is required in Wyoming. However, even though auto insurance is a required expense, there are ways to find cheap coverage.
Bankrate’s insurance editorial team partnered with Quadrant Information Services to obtain up-to-date premium information from the major insurance carriers by market share in Wyoming. We then analyzed the data to see what companies tend to offer the cheapest average rates.
If you are shopping for the cheapest auto insurance in Wyoming, the following companies might be a good place to start:
|Car insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
Geico’s full coverage premium is the highest on our list, but its minimum coverage is the lowest. Although most insurance professionals advise against purchasing minimum coverage limits, you may still want to get a quote from Geico. The company offers plenty of discounts that might help you keep your premium low, so you can purchase more coverage.
You might be able to save money on your car insurance by being a good driver, being a smart student, having a safe vehicle, being a federal employee, being an active duty military service member, going on emergency deployment and taking a defensive driving course. Geico also offers a robust mobile app, if you like to handle your policy digitally.
Learn more: Geico Insurance review
If you are looking for cheap full coverage, you may want to get a quote from State Farm. Not only is State Farm the largest insurance carrier in Wyoming, with 21% of the market share, but the company has agencies across the state, allowing you the ability to handle your insurance needs in person. State Farm also offers banking services, which may be appealing if you like to have your financial products in one place.
If you are looking to save money, State Farm offers two safe driver discount programs, Drive Safe & Save and Steer Clear. There are also discounts for being accident-free, being a good student, being a student away at school, bundling policies, taking a driver training course and having a safe vehicle.
Learn more: State Farm Insurance review
If you are looking for a company that offers a wide range of optional coverages to customize your policy, you might want to consider Farmers. The company’s average full coverage premium is lower than Wyoming’s average. Farmers has plenty of optional coverages to choose from, including accident forgiveness, new car replacement, spare parts coverage and customized equipment coverage.
Although Farmers does not advertise many discounts on its website, you may be able to save by being a safe driver, insuring multiple policies and enrolling in the company’s telematics program, Signal. Signal is a smartphone app that tracks your driving habits. You could earn a discount based on how safely you drive.
Learn more: Farmers Insurance review
Although both Allstate’s minimum and full coverage average premiums are higher than Wyoming’s average, you might still want to get a quote. The higher average premium may be driven by customers who choose to add any number of Allstate’s optional coverages to their policies. You could choose to add sound system coverage, ridesharing coverage, rental reimbursement coverage or roadside assistance coverage, among others.
Allstate also offers several discounts that might help you keep your premium down. You could save with the company’s telematics program, Drivewise. You may also see a reduction on your premium for insuring a new car, paying in full or having a vehicle with certain safety features.
Learn more: Allstate Insurance review
Minimum coverage requirements for Wyoming drivers
Car insurance is legally required in Wyoming. To drive legally in the state, you must purchase at least the following minimum coverages:
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $20,000 property damage
Drivers who opt for minimum coverage insurance generally pay some of the lowest premiums. However, insurance professionals usually recommend that drivers purchase coverage beyond the lowest limits. If you cause an accident and the damages and injuries exceed your policy limits, you will be responsible for the difference out of pocket.
Minimum coverage does not include any coverage for damage to your own vehicle. For that, you will need to add comprehensive and collision coverages. Adding those coverages constitutes a full coverage policy. If you have a loan or lease on your vehicles, 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.
How to get cheap car insurance in Wyoming
Drivers who are looking for the cheapest car insurance in Wyoming may want to start by finding an affordable provider. However, there are several other ways that drivers can get a low insurance rate, including:
- Get multiple quotes: One of the most effective ways to find the cheapest car insurance company for you is to compare multiple quotes for the type and amount of coverage you need.
- Raise your credit score: Insurance companies use your credit score to help determine your annual premium. Typically, the higher your credit score is, the less your car insurance costs.
- Increase your deductibles: If you have comprehensive and collision coverages on your policy, you have a deductible for each. Increasing one or both of your deductibles may lower your premium. However, if you file a claim for damage to your vehicle, you will need to pay your deductible, so be sure to choose a level that you can reasonably afford.
- Look for discounts: Most car insurance companies offer discounts that can help drivers save money on their insurance policy. Look for providers that have multiple discounts you can qualify for, which may equal greater savings.
If you are not sure what companies, coverages, discounts or policy features that you should consider, talking to a licensed agent might be helpful.
Frequently asked questions
What is the best car insurance in Wyoming?
The best car insurance company in Wyoming is different for every driver. Some drivers are looking for the lowest rate and others are looking for the best customer service or specific coverage options. Wyoming drivers may want to shop around and compare providers to see which company meets their needs and budget.
What is the average cost of car insurance in the U.S.?
The average cost of car insurance in the United States is $1,674per year for full coverage and $565 per year for minimum coverage. In Wyoming, the average driver pays $1,495 annually for full coverage and $271 annually for minimum coverage. Drivers in Wyoming pay less on average for insurance than drivers elsewhere in America. This might be because Wyoming is a relatively sparsely populated state. Fewer cars and drivers on the roads might mean a lower likelihood of getting into an accident.
What factors impact your car insurance rate?
There are a number of factors that impact your car insurance rate. Some of the most notable ones are your ZIP code, age, credit score and your driving record. The type of vehicle you drive, its age, how often and far you drive, the coverages you choose, the deductibles you select (if you choose full coverage) and the discounts you qualify for can also impact your premium.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 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 coverages that meet each state’s requirements. Our base profile drivers own a 2019 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.