How Much Is Car Insurance in Wyoming? (2023 Averages)
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The average cost of car insurance depends on your background and policy coverage. On average, a full coverage policy in Wyoming costs $851 per year, and drivers buying minimum coverage pay an average of $303 annually. If you have a violation on your record, a full coverage auto policy costs around $1,115 per year, while adding a young driver increases the average cost to $2,085 annually.
The car insurance company you buy a policy from also significantly impacts your policy rate. For example, a State Farm full coverage policy costs around $726 annually. But if you buy the same policy from Farmers, you pay roughly $939 per year.
The Average Cost of Car Insurance in Wyoming
MoneyGeek considered the most vital factors that influence policy rates to determine the average car insurance costs in Wyoming. The main factor affecting your average car insurance costs is age.
Click on the link to find out more about average costs for a given driver profile.
Average Costs of Car Insurance in Wyoming
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- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$851$71
- Drivers Buying Minimum Coverage$303$25
- Adding a Young Driver$2,085$174
- Drivers With a Violation$1,115$93
- Drivers With Poor Credit$1,368$114
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Why Are Car Insurance Rates Cheap in Wyoming?
MoneyGeek’s report shows that Wyoming is the 12th cheapest state for car insurance rates in the country due to low highway traffic density, low rate of uninsured motorists, low rate of vehicle theft and less prone to natural disasters.
When most motorists are insured, traffic is light, vehicle theft is minimal and a state is less likely to experience natural disasters, these factors all contribute to lower insurance rates because the risk factor is less significant.
Average Cost of Car Insurance in Wyoming: Full Coverage vs. Minimum Coverage
According to MoneyGeek’s methodology, the average annual policy meeting state minimum is $303 and a full coverage policy annual cost is $851. In Wyoming, the average driver pays a difference in average car insurance cost of $548 between the two policies.
Wyoming car insurance rates differ greatly depending on the coverage option you buy. Although full coverage costs more, adding a comprehensive and collision insurance policy can be great financial protection after an accident.
Average Cost of Car Insurance in Wyoming by Coverage Level
Drivers looking for the cheapest car insurance can choose a state minimum policy in Wyoming.
But, given its low limits, you can increase your liability coverage to 50/100/50 or 100/300/100, for example, providing more protection. These numbers refer to your Wyoming auto policy liability coverage limits. For example, a 50/100/50 policy includes:
- $50,000 in bodily injury liability per person
- $100,000 in bodily injury liability per accident
- $50,000 in property damage liability per accident
In a full coverage policy, you get comprehensive and collision insurance to cover damage to your vehicle with liability.
Average Cost of Car Insurance in Wyoming By Company
The insurance company you choose can have a significant impact on your car insurance rates in Wyoming. Wyoming's cheapest full coverage insurance option is State Farm, while GEICO is the cheapest carrier for minimum coverage.
While USAA is another affordable option for both policies and has the cheapest liability-only car insurance plan, it's only available for military families.
The company with the most expensive full coverage in Wyoming is MetLife. The most expensive option for minimum coverage is Allstate.
Average Annual Costs of Car Insurance in Wyoming - By Company
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- CompanyMinimum CoverageFull Coverage
- $180$506
- $246$726
- $206$822
- $407$827
- $370$939
How Much Is Car Insurance in Wyoming by Age?
A driver’s age is vital when determining the average car insurance costs in Wyoming. MoneyGeek’s study shows that young drivers pay more premiums as insurers consider them inexperienced motorists. Thus, they are riskier to cover.
The average cost difference between adding a 16-year-old driver to a parent’s policy and a 40-year-old buying a policy is $1,234 per year.
If you’re a new driver in Wyoming, you’ll purchase your cover at a similar rate to the teenagers. The reason being, first-time drivers are treated the same as young drivers. However, you can save more money on insurance by adding to your parent’s plan as a young driver.
Average Costs of Full Coverage Car Insurance in Wyoming - By Age
How Does Driving History Affect Car Insurance Costs in Wyoming?
Motorists in Wyoming with violations like traffic tickets or DUI citations on their driving record face higher car insurance than drivers with a clean record. However, you can shop around for cheap full coverage cars insurance quotes in Wyoming.
MoneyGeek's research shows an average car insurance cost difference of $264 per year between a safe driver and one with a speeding ticket. The greater the driving violation, the higher your rates will be.
Average Costs of Full Coverage Car Insurance in Wyoming - By Driving History
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- Driving ViolationAnnual Premium
- Safe Driver$851
- Speeding Ticket$1,115
- At-Fault Accident$1,138
- DUI$1,642
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Credit Scores and the Cost of Car Insurance in Wyoming
MoneyGeek establishes that drivers with excellent credit scores usually pay less than those with good credit. According to MoneyGeek’s data, the difference between the two drivers is roughly $123 per year.
Drivers with poor credit generally pay an average of $523 more per year than drivers with good credit.
You can save on car insurance with a good credit score. While a poor credit score will attract different rates on your premiums, you can still find cheap coverage options in Wyoming.
Average Costs of Full Coverage Car Insurance in Wyoming - By Credit Score
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- Credit ScoreAnnual Premium
- Excellent$713
- Good$845
- Fair$980
- Below Fair$1,144
- Poor$1,368
How Much Is Car Insurance in Your City?
MoneyGeek analysis on car insurance rates in Wyoming is from Cheyenne. Auto insurance rates can vary widely from state to state.
In Wyoming, Cheyenne has the cheapest car insurance rates at $851.
Densely populated cities and cities prone to accidents and natural disasters tend to have higher car insurance rates.
Average Costs of Full Coverage Car Insurance in Wyoming - By City
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- CityAnnual Premium
- $851
Frequently Asked Questions About Wyoming Car Insurance Rates
For more information on average car insurance costs in Wyoming, read the answers to frequently asked questions below.
About Mark Fitzpatrick
sources
- United States Census. "2020 Wyoming Population Census." Accessed September 1, 2021.