Cheap Car Insurance

Cheaper Rates Today in WY

Car Insurance in Wyoming

  • Compare cheap car insurance quotes in WY.
  • Get the cheapest car insurance from top companies like Allstate, Progressive, and more!
  • Save hundreds a year on your Wyoming car insurance.

Cheap Car Insurance

Cheaper Rates Today in WY

Car Insurance in Wyoming

  • Compare cheap car insurance quotes in WY.
  • Get the cheapest car insurance from top companies like Allstate, Progressive, and more!
  • Save hundreds a year on your Wyoming car insurance.

Cheap Car Insurance Companies In Wyoming

The average semiannual cost of car insurance in the state of Wyoming is $780.42. An insured premiums are influenced by more variables than purely their place of residence. Car insurance underwriters calculate auto insurance rates after assessing a range of criteria such as the policyholder’s age, driving record, marital status, and credit rating. We examined typical car insurance costs in Wyoming across each of the predominant rating factors. We aim to provide consumers insight to identify a car insurance policy that meets their needs and budget.

CompanySemi Annual Permium
State Farm$618.50

*Data Methodology – Updated 2/29/2024

The Wyoming car insurance rates are based on a 35-year-old male with the most popular car (Honda Accord) living in WY. The Quote is for full coverage with comprehensive at $500 deductible and collision at $500 deductible.

Wyoming Minimum Liability Coverage

Wyoming state law requires vehicle owners to carry a minimum amount of auto insurance coverage. This minimum liability coverage helps protect you financially in the event of an accident for which you are at fault. The Wyoming minimum liability requirements are:

  • Bodily Injury Liability: $25,000 per person, $50,000 per accident. This covers injuries and damages to other people in an accident you cause, up to the specified limits.
  • Property Damage Liability: $15,000. This covers damage to other people’s vehicles and property in an accident you cause, up to $15,000.

In addition to the minimum liability insurance, Wyoming law recommends drivers carry:

  • Uninsured/Underinsured Motorist Coverage: This optional coverage helps pay for injuries and damages if you are in an accident caused by a driver who does not have enough insurance or no insurance at all.
  • Collision Coverage: This optional coverage pays to repair or replace your own vehicle if you are in an accident, regardless of fault.
  • Comprehensive Coverage: This optional coverage pays to repair or replace your own vehicle for events other than collisions, such as theft, vandalism, fire, or falling objects.

Penalties for Driving Without Insurance in Wyoming

In the state of Wyoming, driving without the required minimum car insurance is illegal and punishable by fines and other penalties. If you are caught driving without insurance in Wyoming, you will likely face the following penalties:

  • A fine of up to $750 for the first offense and up to $1,000 for subsequent offenses within a year.
  • A suspension of your driver’s license for up to 6 months for the first offense and up to 1 year for subsequent offenses within a 3-year period.
  • Impoundment or immobilization of your vehicle for up to 30 days. You will need to provide proof of insurance before you can get your vehicle back.
  • A mandatory SR-22 filing, which requires you to purchase high-risk car insurance for 3 years. This type of insurance is typically more expensive.
  • Possible jail time of up to 6 months for aggravated circumstances, such as causing an accident without insurance.

Auto Insurance Rates in Wyoming

Wyoming drivers typically pay some of the lowest auto insurance rates in the country. There are a few key factors that contribute to the state’s relatively inexpensive premiums.

First, Wyoming has a small population with a low population density, meaning there are fewer drivers on the road and a lower risk of accidents. The state also has an extensive highway system that allows for more spread out driving, which reduces congestion and collision risk.

Second, Wyoming has a lower prevalence of auto theft compared to many other states. Fewer claims for stolen vehicles help keep premium costs down.

Third, Wyoming has an active community of volunteer emergency responders who assist with medical and rescue services following accidents. This reduces the burden on professional emergency services and insurance claim costs.

Finally, Wyoming has relatively mild weather conditions with little snow and ice accumulation. While snowstorms do occur periodically, they tend to be less severe and long-lasting than in other northern states. This means fewer weather-related accidents that could factor into insurance rates.

Low Cost Car Insurance Programs and Discounts in Wyoming

Car insurance rates in Wyoming are generally lower than the national average, but costs can still add up. Fortunately, there are several ways for Wyoming drivers to save money on their auto insurance coverage. Insurers offer various programs and discounts for qualifying drivers.

One option is low-mileage insurance policies. If you drive less than 7,500 miles per year, many companies offer lower rates for low-mileage drivers. You may be able to save around 10% to 20% on your premiums with these plans.

Another way to save is through good student discounts. If you maintain good grades, many insurers will offer a discount of around 15% to 25%. Some companies require a GPA of 3.0 or higher while others simply ask for a “B” average. You’ll need to provide report cards or transcripts as proof of eligibility.

Many insurers also offer discounts for drivers with multi-vehicle policies. Bundling your home and auto insurance with the same company can also provide savings. Senior citizen discounts are also common, typically starting at age 55.

Some companies provide discounts for drivers with defensive driving courses, anti-theft devices, and good credit scores. Discounts are also available for accident-free drivers, military members, and those who have been with the same insurer for multiple years.

Wyoming Car Insurance Statistics

Wyoming has a unique car insurance market shaped by the state’s low population and vast, rural geography. Here are some important Wyoming car insurance statistics:

  • Wyoming has the second-lowest population among U.S. states with just over 580,000 residents as of 2019. The sparsely populated state has large distances between communities, which means more miles driven and higher insurance costs.
  • The average annual premium for car insurance in Wyoming is $1,175, slightly higher than the U.S. average of $1,072. However, rates vary widely across the state. Rural areas tend to have higher premiums due to more miles driven and fewer insurance companies competing for business.
  • Wyoming has a relatively high number of uninsured motorists at 15.6%, compared to the national average of 11.2%. The state does not require drivers to carry minimum liability insurance limits. However, drivers caught without insurance face fines and other penalties.
  • Wyoming has a lower number of personal injury claims compared to the national average. This is likely due to the state’s low population density and rural nature, which means fewer vehicles on the road and less traffic congestion.
  • The cost of repairs and medical claims in Wyoming is slightly higher than average due to higher speed limits, longer response times for emergency services, and more severe weather conditions. These factors contribute to higher insurance rates across the state.

The 10 Largest Wyoming Car Insurance Companies

Wyoming drivers have several options when shopping for car insurance. Here are the 10 largest car insurance companies in Wyoming based on market share:

  1. State Farm – State Farm has the largest market share in Wyoming at 21.5%. It offers a wide range of insurance products and services at competitive rates.
  2. Farmers – Farmers has the second largest market share at 12.5%. It is known for providing reliable auto insurance coverage with 24/7 claims service.
  3. Progressive – Progressive ranks third in Wyoming with a market share of 11.5%. It is well known for its usage-based insurance programs and strong customer service.
  4. GEICO – GEICO has a 9.7% market share, ranking it fourth largest in Wyoming. It is recognized for offering affordable rates and convenient online services.
  5. Allstate – Allstate has a 7.5% market share in Wyoming, ranking it fifth. It offers a variety of insurance products and services backed by the Good Hands Promise.
  6. Liberty Mutual – Liberty Mutual holds a 6.5% market share, giving it the sixth largest presence in Wyoming. It provides comprehensive coverage options for drivers.
  7. Nationwide – Nationwide is the seventh largest insurer in Wyoming with 5.8% of the market. It is known for its commitment to customer service and financial stability.
  8. USAA – USAA has a 4.2% market share, ranking it eighth in Wyoming. It offers exclusive insurance options for military members, veterans and their families.
  9. AAA – AAA has a 3.5% market share in Wyoming, placing it ninth. It provides auto insurance coverage and roadside assistance for members.
  10. MetLife – MetLife rounds out the top 10 with a 2.8% market share. It is a well-known provider of life insurance and other financial products.