How To Find The Most Affordable Car Insurance in Wyoming

Fran
Lucy Lazarony
November 3, 2020

In Wyoming, the average car insurance premium costs $1,338 per year, which is 6 percent less than the national average. Being below average is a good thing here but there are ways to bring that car insurance premium even lower. We will get to those tips later on. But first we will take a closer look at car insurance in Wyoming.

State Minimum Liability Requirements

If you ever cause a car accident, liability insurance pays for other people’s injuries and property damage, up to your liability limit. Each state has minimum liability requirements for the drivers in their state.

In Wyoming, the minimum liability requirements are $25,000 bodily injury liability coverage per person, $50,000 bodily injury liability coverage per accident and $20,000 property damage liability coverage per accident.

This minimum coverage costs $369 per year.

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Uninsured Motorist Coverage

Uninsured motorist coverage helps pay for damages caused by a driver who doesn’t have insurance. In Wyoming, drivers are required to carry uninsured motorist coverage of $25,000 bodily injury per person and $50,000 bodily injury per accident.

Wyoming Is an At-Fault State

When it comes to insurance, Wyoming is an at-fault state. This means Wyoming drivers are responsible for any damage they cause to another vehicle. An insurance adjuster decides who is at fault in an accident.

A More Robust Policy Costs More

In Wyoming, a more robust policy with collision insurance, comprehensive insurance and $1,000 deductibles costs around $1,102 per year.

Collision insurance is coverage that helps to repair or replace your car if it is damaged in an accident with another vehicle or object such as a tree or a fence. Comprehensive insurance covers events that aren’t covered by collision coverage. These events include theft, fire and vandalism and damages from weather such as a tornado, a hurricane, a windstorm and a hailstorm.

If you have a loan on your car, a lender may require you to carry both collision insurance and comprehensive insurance.

A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Both collision insurance and comprehensive insurance require deductibles.

Choosing a high deductible is one way to save money on your car insurance premium.

Cheapest and Most Expensive Cities

In Wyoming, the city with the cheapest car insurance is Rawlins. The city with the most expensive car insurance is Gillette. Founded on the Union Pacific railroad line, Rawlins was named after Union General John Aaron Rawlins. Gillette is known as the “Energy Capital of the Nation.”

How To Save Money on Car Insurance

Ready for those tips on saving money on car insurance? Here they are. Use as many as you can to lower your auto insurance premiums.

Be a Married Motorist. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married motorists pay less for auto insurance than singles. In Wyoming, married motorists save around $26 per year on car insurance.

Maintain Excellent Credit. Insurance companies use consumer credit data when assigning risk pools and setting insurance rates. Drivers with excellent credit get the best auto insurance rates. Drivers with no credit or bad credit pay much more for their auto insurance. In Wyoming, a driver with excellent credit saves about $707 per year on car insurance, compared to a driver with bad credit. Need to boost your credit? Get all past due accounts current, pay down debt and avoid taking on new debt. Get in the habit of paying your credit bills on-time. This will help you to build up a positive payment history, which is good for your credit score.

Be a Safe and Responsible Driver. If you are a safe and responsible driver and you follow the rules of the road, you will save money on your car insurance. In Wyoming, drivers without a recent moving violation save 24 percent on their car insurance. But break a few rules and premiums head up in a hurry. Premiums increase 38 percent after a DUI, 27 percent after an at-fault accident and 24 percent after a speeding ticket. What does that mean in dollars and cents? In Wyoming, a first, minor, at-fault accident costs $508 per year. And a DUI will raise yearly car insurance premiums by around $845 for a first offense. So be a safe driver and follow the rules of the road and save money. If you have been a good driver be sure to let your car insurance company know that you’d like a good driver discount. You’ve earned it with your good driving behavior out on the road.

Bundle Up. Bundle your auto insurance policy with another insurance policy such as a homeowners policy and save money.

Pay Less Often. Rather than paying monthly auto insurance bills, pay the entire annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

Use a Multi-Car Discount. Insure more than one car with the same auto insurance company and save money with a multi-car discount.

Drop Coverages with Older Cars. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision coverage and comprehensive coverage any longer.

Check Memberships for Discounts. Members of some professional organizations and affiliates get discounts on car insurance. So review your memberships and see if they offer discounts on car insurance.

Check Anti-Theft Features. Having certain anti-theft and safety features will lower your car insurance premiums. So check your car’s features with your insurance company to see if they warrant a discount.

Age Makes a Difference. Drivers who are younger than 25 and older than 65 have more serious accidents and pay more for car insurance. Drivers of the ages in-between pay less.

Be a Female Driver. Women make fewer accident claims than men and get rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Keep Mileage Low. If you are a commuter that racks up the miles, you will pay more for your car insurance. If you are a low-mileage driver, you will pay less for car insurance. So drive less and pay less for your car insurance.

Maintain Coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your auto insurance coverage and save money.

Opt for a High Deductible. As mentioned earlier, choosing a high deductible will lower your auto insurance premium. Just be sure to put the deductible amount in a small emergency fund. This way the money will be there should you need to file an insurance claim.

Buy a Home. Statistics show that people who own homes drive more safely. So let your insurance company know that you own your home and enjoy the savings on your auto insurance premium.

Choose Safety. If your neighborhood has high accident claims and auto theft, you will pay more for your auto insurance. If your neighborhood has low accident claims and low crime, you will pay less for car insurance. So choose a safe neighborhood and save money on your car insurance.

Reach out for Discounts. The good driver discount already has been mentioned. There are discounts for veterans and students as well. Reach out for any that apply.

Shop Around. One of the best ways to save money on car insurance is to shop around. You will want to get insurance quotes from several different insurance companies. SmartFinancial makes it easy to do. Just input the type of insurance that you are looking for and a zip code to get started. Next, answer a few, quick questions and you will be comparing auto insurance rates in Wyoming in no time.

SmartFinancial has access to more than 200 insurance companies so you are bound to find the insurance coverage and price that you want. So shop smart for car insurance and drive safely along the roadways of Wyoming.

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