The Cheapest Car Insurance in Wyoming (November 2023)
Compare Rates and Save on Car Insurance
By, Content Director
By, Finance Writer & Licensed Insurance Agent
GEICO offers Wyoming's cheapest minimum coverage car insurance. MoneyGeek also found that Farmers and State Farm provide the cheapest rates for certain types of drivers in the state.
MoneyGeek ranked the best auto insurance companies in Wyoming based on how they balance quality and affordability.
Table of Contents
Cheapest Minimum Liability Car Insurance in Wyoming (November 2023)
According to MoneyGeek's research, the most affordable car insurance providers in Wyoming for minimum coverage are, on average:
- GEICO: $176 per year
- State Farm: $209 per year
The most expensive minimum coverage insurance in Wyoming is offered by Allstate, costing around $408 per year.
The minimum insurance requirements in Wyoming are limited to property damage liability (PDL) and bodily injury liability (BIL).
A minimum coverage insurance does not cover your own car. It only pays for damage or injuries you cause to others and their property. A full coverage policy, sometimes referred to as comprehensive and collision insurance, extends coverage to your vehicle.
Compare Auto Insurance Rates
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Cheapest Full Coverage Car Insurance in Wyoming (November 2023)
On average, the following insurers in Wyoming have the cheapest quotes for full coverage insurance:
- State Farm: $745 per year
- Farmers: $813 per year
Wyoming's highest yearly rate for full coverage is around $1,035 with GEICO.
When you upgrade your policy to include comprehensive and collision coverage, your annual premium goes up. For example, GEICO, which provides the cheapest minimum coverage, costs up to $859 more for full coverage than for minimum insurance.
Remember that you are better protected financially with full coverage insurance. It covers damages from on-road crashes and off-road incidents.
The amount of coverage you need will impact your premiums. The sample policy from MoneyGeek comprises the following limits:
- $100,000 in bodily injury liability per person
- $300,000 in bodily injury liability per accident
- $100,000 in property damage liability per accident
By choosing lower liability limits, higher deductibles or giving up comprehensive and collision coverage, drivers in Wyoming can save money on their premiums. However, this could leave you with insufficient coverage if you are in an accident.
How to Compare Cheap Wyoming Car Insurance Quotes Online
Several companies provide online auto insurance quotes, which often take up to 15 minutes and frequently necessitate the disclosure of personal information. Researching multiple insurance providers might also consume considerable time since you have to repeat the process with each insurer.
Use MoneyGeek's auto insurance calculator to receive a quick estimate of your car insurance prices in Wyoming without having to submit your information to multiple insurers. You can get started by selecting your age, gender and driving record. Then, you can use the information you receive as a starting point to find the cheapest car insurance for your profile.
Auto Insurance Calculator
See how the Average Annual Auto Insurance Rates vary with the options chosen.
Cheapest Car Insurance in Wyoming by Age (November 2023)
Age is one of the biggest factors affecting car insurance rates in Wyoming. MoneyGeek found that Allstate, Farmers and State Farm offer the cheapest options on average, depending on what age group you and your family belong to.
Cheapest Car Insurance in Wyoming for Teens and Their Families (November 2023)
On average, the following insurers in Wyoming are the most affordable for parents adding their teenagers to their car insurance policy:
- Allstate: $1,604 per year for male teens and $1,420 per year for female teens
- GEICO: $2,274 per year for male teens and $1,790 per year for female teens
State Farm charges the most for adding a teen to a parent's insurance. On average, it costs $2,228 per year to add a female teen and $2,994 per year to add a male teen.
Car insurance rates for teens significantly decrease as they age. In Wisconsin, GEICO ($1,091) offers the cheapest car insurance rates for 19-year-old males.
In general, it's cheaper for a teenager to be added to their parent's policy as opposed to getting their own policy. For example, in Wyoming, a 16-year-old male will pay an average of $3,858 for their own policy vs. $2,355 to be added to their parent's coverage. This is a difference of $1,503 annually.
On average, car insurance rates for male teens tend to be significantly more expensive than for female teens. This rate difference is not as notable when drivers reach their 20s and beyond.
Families who want to save money on car insurance might be able to get discounts for teenage drivers. Except for GEICO, which does not provide a distant student discount, all of the Wyoming insurers we reviewed offer discounts to students with high grades or who are studying away from home.
Cheapest Car Insurance in Wyoming for Young Adults (November 2023)
On average, the following companies provide the most affordable car insurance for young drivers in Wyoming:
- Farmers: $870 per year
- State Farm: $932 per year
GEICO provides the most costly insurance for young people, with an average yearly premium of $1,220.
Wyoming’s 25-year-old drivers spend roughly $57 more annually on car insurance with Farmers than do middle-aged drivers.
Cheapest Car Insurance in Wyoming for Seniors (November 2023)
On average, the following insurance companies provide the most affordable rates for the state’s senior drivers:
- State Farm: $647 per year
- Farmers: $789 per year
GEICO's insurance is the most expensive in the state for seniors, costing around $1,105 a year.
Senior drivers in Wyoming pay an average of $98 less yearly for State Farm auto insurance than do drivers in their 40s and 50s. However, rates generally increase when drivers reach their 70s and 80.
Seniors might be able to take advantage of car insurance discounts from certain insurers. Among the insurers MoneyGeek evaluated, Allstate, GEICO and Farmers offer senior discounts. Premiums are determined in part by insurers' assessment of the policyholder's age, making it important to shop around for the most affordable policy.
Cheapest Car Insurance for Higher Risk Drivers (November 2023)
Insurance rates may rise for motorists with many traffic violations. Wyoming drivers with tickets, at-fault accidents or DUIs on their records may get the best rates from State Farm.
State Farm is also the cheapest insurer for sports car drivers, while it is Farmers for those with poor credit.
Cheapest after a ticket: State Farm ($808 per year)
Cheapest after an accident: State Farm ($871 per year)
Cheapest after a DUI: State Farm ($808 per year)
Cheapest for poor credit: Farmers ($974 per year)
Cheapest for sports cars: State Farm ($938 per year)
Cheapest Car Insurance in Wyoming After a Ticket
On average, the following insurers offer full coverage policies at the most competitive prices for Wyoming drivers who incur a speeding ticket:
- State Farm: $808 per year
- Farmers: $878 per year
GEICO is the most expensive provider, costing about $2,059 annually.
In Wyoming, receiving a speeding ticket can result in an average increase of $321 in insurance costs.
Cheapest Car Insurance in Wyoming After an Accident
For Wyoming drivers with an at-fault collision on their records, the following companies offer the cheapest full coverage auto insurance, on average:
- State Farm: $871 per year
- Farmers: $1,010 per year
The most expensive insurance, which is from GEICO, costs roughly $1,557 per year for drivers who have caused accidents.
According to MoneyGeek, being at fault in a car accident in Wyoming can increase your yearly premium by an average of $286.
Cheapest Car Insurance in Wyoming After a DUI
On average, the most affordable full coverage auto insurance providers in Wyoming for drivers with a DUI conviction are:
- State Farm: $808 per year
- Allstate: $1,181 per year
The highest annual rate for drivers with DUIs is approximately $2,661 from GEICO.
In Wyoming, you may anticipate an up to $758 increase in your annual premium if you have a DUI on your record.
Cheapest Car Insurance in Wyoming for Drivers With Poor Credit (November 2023)
For those with poor credit in Wyoming, the following insurers offer the most competitive rates, on average:
- Farmers: $974 per year
- State Farm: $1,248 per year
If your credit is less than perfect, GEICO will cost you around $1,422 annually and is the most expensive option.
When setting premiums, insurers take credit scores into account. Compared with someone with a credit score above 750, Wyoming residents with credit scores below 580 may spend roughly $372 more for auto insurance.
Drivers with low credit scores are more likely to submit claims, causing insurers to charge them higher premiums. Wyoming permits insurance companies to factor in credit scores when determining premiums.
If your credit score improves, your insurance premiums may reduce. You can also compare rates from different insurers and take advantage of common discounts to save money.
Cheapest Car Insurance in Wyoming for Sports Cars (November 2023)
For owners of sports cars, the following insurance companies in Wyoming offer the best rates, on average:
- State Farm: $938 per year
- Allstate: $1,050 per year
The average yearly premium for GEICO is $1,323, making it the most expensive in the state for sports car owners.
Due to the higher cost of repairs and replacement parts, insurance for a sports car is often (but not always) more expensive than coverage for a regular vehicle. Sports car owners in Wyoming pay about $223 more for auto insurance than Toyota Camry LE drivers.
MoneyGeek obtained the rates above for a Ford Mustang. However, premiums can vary greatly based on the type of vehicle you drive. Insuring a sports car, an electric vehicle or a luxury vehicle can generally be expensive. That said, this might not be true in your state.
Cheapest Car Insurance in Wyoming for Military Drivers (November 2023)
Veterans and active military personnel can insure their cars with USAA and get the most affordable rate, which costs an average of $638 annually for a full coverage policy.
This company serves active and retired military personnel in every state and offers affordable, quality auto insurance policies.
- $638 per year
USAA offers discounts for safe drivers, bundling, good student and those insuring multiple cars.
Car Insurance in Wyoming: What You Need to Know
The majority of states require drivers to carry bodily injury liability and property damage liability coverage. Wyoming is no exception to this, and drivers in the state must carry certain limits for each of these coverages.
Wyoming Car Insurance Requirements
All drivers in Wyoming must carry liability insurance with minimum levels for property damage and bodily injury. Although cheaper, minimum coverage might not offer enough protection. MoneyGeek recommends the most comprehensive liability insurance policy that is affordable to you.
After most serious driving offenses, like driving without insurance, driving with a suspended license and reckless driving, you may need SR-22 insurance in Wyoming. This could eventually increase the coverage you may require.
Bodily Injury Liability
If you cause an accident and another driver is hurt as a result, your bodily injury liability insurance will cover their medical expenses. The minimum bodily injury liability coverage in Wyoming is $25,000 per person and $50,000 per accident. If the final bill for medical care is more than this amount, you will be responsible for paying the difference.
Property Damage Liability
To legally drive in Wyoming, drivers must have at least $20,000 worth of property damage liability insurance. Your liability insurance will cover up to $20,000 in property damage costs if you cause an accident that results in property damage for another person. However, you will be responsible for paying for any costs over that amount if you don’t opt for a higher level of coverage.
MoneyGeek recommends getting liability insurance with property damage coverage of $100,000 as well as bodily injury coverage of at least $300,000 per accident and $100,000 per person.
It's best to have comprehensive and collision insurance if you finance your car.
Collision insurance will cover the cost of repairing or replacing your car in the event that it sustains damage from another car or a stationary object. Comprehensive coverage will cover any off-road-related damages to your vehicle.
Comprehensive and collision insurance is a good idea if you own a luxury car, even if you didn't finance it.
Car Insurance Alternatives in Wyoming
Drivers who do not possess car insurance can consider alternatives that are available for Wyoming. Certain drivers in Wyoming have the option to self-insure.
There may be a shortage of insurance options for motorists who have racked up a string of traffic violations or DUIs. The Wyoming Automobile Insurance Program (WAIP) facilitates coverage for drivers with preexisting violations.
Furthermore, for drivers without cars, non-owner car insurance can be an option.
FAQs About Car Insurance in Wyoming
Having questions about the price and quality of one's auto insurance is not uncommon. Listed below are answers to some frequently asked questions about auto insurance in Wyoming.
About Mark Fitzpatrick
- Wyoming Department of Transportation. "Insurance Requirements." Accessed December 19, 2022.