Alyssa Lane
Car insurance rates in Wyoming are determined by several factors, including age, gender, marital status, credit and driving history, and location. The average cost of car insurance in Wyoming is $1,341 per year, which is well below the national average. However, rates can vary significantly depending on individual circumstances. For example, a 16-year-old driver in Wyoming can expect to pay around $5,573 per year, while a driver in their 50s may only pay $1,155. Additionally, drivers with a clean record can access cheaper policies, with American National offering rates as low as $132 per year. On the other hand, a single speeding ticket can increase premiums by almost $400 annually, and a DUI can raise costs by an average of $845. Location also plays a role, with differences in parts and repair costs, weather events, population density, and crime statistics affecting rates by ZIP code.
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What You'll Learn
Car insurance rates for young drivers
Car insurance rates in Wyoming are affected by factors such as a driver's age, gender, marital status, credit and driving history. Generally, auto insurance is more expensive for young drivers as car insurers view inexperienced motorists as riskier to cover. The average cost of car insurance in Wyoming is $1,338 per year, 6.2% less than the national average. However, for a 16-year-old motorist, car insurance costs $5,573 per year, while for a driver in their 50s, the cost is $1,155 per year.
For young drivers in Wyoming, the best way to save money on car insurance is by sharing a policy with their parents or an older relative. A shared policy typically costs much less than two standalone policies, and you can qualify for a multi-car discount. Geico has the most affordable quotes for young drivers in Wyoming, with an average rate of $37 per month, while the state average is $62 per month. Geico's rate of $59 per month for liability-only coverage is $34 per month cheaper than the average across the state. An 18-year-old can expect to pay around $73 for a minimum-liability policy after a ticket or $65 per month after a crash. State Farm also offers affordable rates, averaging $22 per month.
Drivers with poor credit in Wyoming should consider insurers with the lowest average rates for minimum coverage, such as American National, which offers the cheapest rates in the state at $132 per year on average for a 35-year-old driver with a clean driving record. For drivers with a recent speeding ticket, accident, or DUI in Wyoming, several companies offer the lowest average rates for minimum coverage. For example, State Farm has the cheapest full coverage for drivers with an accident on their record, at $108 per month, $45 less than the Wyoming average.
It is important to note that each insurance company calculates rates differently, so it is recommended to get multiple quotes to ensure the best deal. Comparing car insurance rates can save older drivers money, and drivers in their 30s and 40s can get lower rates by shopping around and taking advantage of discounts. Additionally, married motorists in Wyoming save $26 each year on auto insurance policies, and drivers with excellent credit histories can save up to $707 annually in premiums compared to those with poor credit.
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Full coverage insurance
The average cost of full-coverage car insurance in Wyoming varies depending on the source. Bankrate and Value Penguin place the average monthly cost at $147 and $124, respectively. NerdWallet, meanwhile, estimates the average annual cost to be $1,108, which equates to roughly $92 per month.
The cost of full-coverage insurance in Wyoming is influenced by a number of factors, including age, gender, marital status, credit and driving history, as well as the vehicle's age, make and model. For example, drivers in their 20s tend to pay higher rates than those in their 30s, while drivers with DUIs typically see their insurance rates nearly double. In addition, drivers with excellent credit scores can save $707 per year compared to those with poor credit.
According to Value Penguin, State Farm offers the cheapest full-coverage insurance in Wyoming, at around $100 per month. State Farm also provides the cheapest quotes for drivers with a speeding ticket or an accident on their record, at $108 and $116 per month, respectively. For drivers with a DUI, State Farm again offers the best rates, at $189 per month. However, CarInsurance.com claims that American National Finance provides the cheapest full-coverage insurance in the state, at $69 per month.
To find the best rates, drivers are advised to shop around and compare quotes from multiple insurers. This is especially important in Wyoming, where insurance rates can vary depending on the city and ZIP code. By comparing prices, drivers can save up to 53% per year on their car insurance policy.
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Minimum coverage insurance
In Wyoming, drivers must carry a minimum of $25,000 per person and $50,000 per accident in bodily injury liability coverage, as well as $20,000 in property damage liability coverage. Liability-only coverage is usually the cheapest option, but it's important to note that this type of insurance only covers the cost of damage to another person's property or injuries they sustain as a result of an accident that is your fault. It does not cover any damage to your own vehicle or any injuries you may sustain.
The cost of car insurance in Wyoming depends on various factors, including age, gender, marital status, credit score, and driving history. For example, young drivers typically pay higher insurance rates than older drivers, but they can save money by remaining listed on their parents' insurance policy. Additionally, drivers with poor credit scores or recent accidents on their records will generally pay higher insurance rates.
If you're looking for the cheapest minimum coverage insurance in Wyoming, GEICO is a good option, offering minimum liability coverage for $45 per month or $539 per year on average. State Farm also offers competitive rates, with minimum coverage starting at $61 per month or $733 per year. It's worth noting that these rates are for 25-year-old drivers, and actual premiums will vary based on age.
To find the best rate for your specific situation, it's recommended to compare quotes from multiple insurance companies. By shopping around and considering your coverage needs, you can ensure you're getting the most affordable and suitable insurance policy for your needs.
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Insurance rates for drivers with poor credit
The cost of car insurance in Wyoming is determined by a variety of factors, including a driver's age, gender, marital status, credit score, and driving history. While Wyoming's average insurance rates are below the national average, drivers with poor credit may face higher costs. Poor credit can lead to a significant increase in insurance rates compared to those with good credit.
Drivers with poor credit seeking minimum coverage in Wyoming can consider the following insurers with the lowest average rates:
American National, with an average rate of $379/year
Drivers with a recent accident or speeding ticket can also expect higher insurance rates. A DUI is considered one of the most severe incidents, causing insurance rates to nearly double. In Wyoming, a first minor at-fault incident will increase insurance premiums by an extra $508 per year, while a DUI will raise annual insurance costs by an average of $845.
Young drivers in Wyoming often face high insurance rates, especially if they are not listed on their parent's policy. However, drivers in their 40s tend to have better insurance rates than younger drivers, and drivers in their 50s enjoy the lowest rates based on age.
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Cheapest car insurance companies in Wyoming
The average cost of car insurance in Wyoming is $1,338 per year, 6.2% less than the national average. However, car insurance rates are affected by factors other than geography. For example, a driver's age, gender, marital status, credit and driving history can all influence the cost of insurance. Generally, auto insurance is more expensive for younger drivers, with teens paying around $5,573 per year in Wyoming, compared to $1,155 for drivers in their 50s. Married motorists in Wyoming save $26 per year on auto insurance, though this is lower than the national average saving of $76. Drivers with excellent credit can save $707 per year compared to those with poor credit.
The cheapest full coverage car insurance in Wyoming is from American National, at $936 per year on average, according to NerdWallet. The average cost of full coverage in Wyoming is $1,108 per year. The average cost of minimum coverage in Wyoming is $191 per year, though American National offers rates as low as $132 per year for a 35-year-old driver with a clean record.
For drivers with a recent accident, State Farm offers the cheapest full coverage, at around $116 per month. State Farm also has the cheapest full coverage for drivers with a speeding ticket, at $108 per month. For drivers with poor credit, Geico has the best quotes, at $141 per month for full coverage.
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Frequently asked questions
The average cost of car insurance in Wyoming is $1,341 per year, which is $115 per month.
The cost of car insurance in Wyoming is influenced by factors such as age, gender, marital status, credit score, and driving history.
The cheapest car insurance option in Wyoming is offered by Geico, with an average rate of $18 per month.
State Farm offers the best combination of affordable rates and great customer service in Wyoming. Their rates average $22 per month.
Drivers with a clean record typically pay less for insurance than those with speeding tickets or other infractions. A DUI in Wyoming will increase insurance costs by an average of $845 per year.
