Cheap Wyoming Low-Income Car Insurance for Families and Individuals

Wyoming does not have a government car insurance program to help low-income families and individuals with the high cost of car insurance. MoneyGeek ranked the cheapest car insurance companies in the state to assist those drivers searching for affordable auto insurance. We found that GEICO has the cheapest insurance for low-income drivers in Wyoming.

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Last Updated: 4/19/2022
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Your income level doesn’t affect your car insurance premiums. Factors that significantly impact how much you pay are the coverage level you choose and adding a teen driver to your policy. Credit scores are also important, and MoneyGeek calculated the cheapest options for low-income individuals and families based on their credit scores.

Is There Car Insurance for Low-Income Families and Individuals in Wyoming?

There are no government car insurance programs in Wyoming to help low-income families and individuals with car insurance costs. Car insurance is mandatory by law; however, approximately 5.8% of all drivers in the state are uninsured. This is likely due to car insurance being too expensive for some low-income families and individuals to afford.

If you are looking for low-income car insurance in Wyoming, the cheapest option is a state minimum coverage policy, even though it provides the least protection. For those who drive infrequently, another option may be pay-per-mile car insurance.

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Does Wyoming Have a Government Program to Support Low-Income Drivers with Insurance?

The government does not have an assistance program in Wyoming to support low-income drivers with the cost of car insurance. So, if you need cheap car insurance, it’s best to shop around and compare quotes from multiple auto insurers. MoneyGeek broke down the cheapest car insurance companies for low-income families in Wyoming looking to save money on car insurance.

The Cheapest Wyoming Car Insurance Companies for Low-Income Drivers

When calculating insurance rates, insurers in Wyoming do not take your income into consideration. However, they do consider factors that tend to be related to income, such as your credit score and age.

The cheapest type of car insurance is a policy with minimum coverage, but it provides the least amount of protection. MoneyGeek found that GEICO has the cheapest car insurance in Wyoming for low-income drivers.

MoneyGeek analyzed the cheapest minimum car insurance in Wyoming for low-income families and individuals of different ages and with poor or good credit scores.

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The Cheapest Wyoming Car Insurance Companies for Low-Income Families

While your income doesn’t affect your car insurance premiums, your credit score does. Our sample single parent with a teen driver and poor credit score in Wyoming pays approximately $653 per year more than their counterpart with good credit. Similarly, couples with a teen driver and poor credit score pay $852 per year more than if they had a good credit score.

The cheapest car insurance companies in Wyoming for a couple with a teen driver and poor credit are:

  • GEICO: $1,473
  • State Farm: $2,010

Although USAA has the cheapest car insurance for couples with a teen driver and poor credit in Wyoming at $1,294, it is only available to members of the military and their families. This is why we didn’t include USAA in our rankings.

The cheapest car insurance companies in Wyoming for a single parent with a teen driver and poor credit are:

  • GEICO: $1,094
  • State Farm: $1,366

The cheapest provider in this instance is USAA at a yearly premium of $966. However, USAA car insurance is exclusive to members of the military and their families.

A low income does not imply a poor credit score. Check the table below to find the cheapest option according to your profile.

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  • Company
    Annual Rates
  • USAA
    $561
  • GEICO
    $635
  • State Farm
    $793
  • MetLife
    $934
  • Farmers
    $1,192
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The Cheapest Wyoming Car Insurance Companies for Low-Income Individuals

In Wyoming, car insurance rates for our sample individual driver, a 40-year old male, are approximately $210 per year more if they have poor credit rather than good credit.

The cheapest car insurance companies in Wyoming for low-income individuals with poor credit scores are:

  • GEICO: $366
  • State Farm: $437

USAA is again the cheapest in the state at $320 per year on average, but is only available to current and retired members of the military and their families.

You'll save on your premiums if you have a good credit score. For example, low-income drivers with good credit will pay an average of $212 per year for car insurance through GEICO and $253 through State Farm.

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  • Company
    Annual Rates
  • USAA
    $185
  • GEICO
    $212
  • State Farm
    $253
  • MetLife
    $293
  • Farmers
    $381

The Cheapest Wyoming Car Insurance Companies for Low-Income Students

Young student drivers don’t pay more for car insurance because they’re low-income individuals but because they lack experience driving and are at a greater risk for accidents.

The cheapest car insurance in Wyoming for student drivers is from the following companies:

  • GEICO: $875
  • State Farm: $1,044

USAA has the cheapest car insurance in Wyoming for this driver profile at $764 per year on average. However, you can only purchase car insurance from USAA if you are a member of the military.

For students and young drivers with good credit, your cost of car insurance will be significantly lower. GEICO offers car insurance to student drivers with good credit at an average of $508 per year, while you’ll pay $606 at State Farm.

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  • Company
    Annual Rates
  • USAA
    $443
  • GEICO
    $508
  • State Farm
    $606
  • MetLife
    $700
  • Farmers
    $912

The Cheapest Wyoming Car Insurance Companies for Low-Income Seniors

Senior drivers are charged slightly more for car insurance in Wyoming than their middle-aged counterparts. And as with all drivers, your credit score will directly impact how much you pay. For our sample 70-year-old senior driver, rates differ by about $215, depending on whether you have a poor credit score or a good one.

The cheapest car companies in Wyoming for a senior driver with poor credit are:

  • GEICO: $391
  • State Farm: $392

USAA just makes being the cheapest company in the state at $300 per year for this driver profile. Note that this insurer is exclusive to military members and their families.

Having a low income doesn’t automatically mean your credit is poor. If you’re a senior driver with good credit in Wyoming, car insurance through GEICO will cost you approximately $227 per year and $288 through State Farm.

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Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $192
  • GEICO
    $227
  • State Farm
    $228
  • MetLife
    $312
  • Farmers
    $396

Does Income Affect Car Insurance Rates in Wyoming?

Car insurance companies can’t use your income as a factor when determining insurance rates in Wyoming. However, other factors seemingly related to income may affect how much you pay.

For example, younger people are charged higher rates because they are considered more likely to get into an accident. They may also have lower incomes because they’re either still in school just starting their careers; however, that low-income status is not the reason for their higher premiums.

Similarly, insurers typically charge more for drivers with a history of claims. Those drivers are generally low-income individuals who may not be able to afford to pay for repairs out-of-pocket, and so make more claims.

MoneyGeek analyzed which factors most affect rates in Wyoming. The three most significant are:

  • Your age.
  • The coverage level you select.
  • Adding a teen driver to your policy.

Other essential factors are your credit score and model of the car you are insuring.

  • Factor
    How it Affects Your Rates
  • Adding a Teen Driver

    Adding a teen driver to your car insurance policy in Wyoming can make it 3.5x more expensive.

  • Coverage Levels

    Your choice of coverage level, such as opting for a full coverage policy, can increase the cost of your car insurance by 3.5x more than a state minimum coverage policy.

  • Age of Driver

    In Wyoming, rates can vary by 2.5x for young drivers compared to middle-aged drivers.

  • Credit Score

    Having a poor credit score can increase the cost of your car insurance in Wyoming by 2.1x more than with a good score.

  • Car Model

    Having the latest car model can make your car insurance in Wyoming twice as expensive.

Frequently Asked Questions About Low-Income Car Insurance in Wyoming

MoneyGeek answers a few of the most frequently asked questions about low-income car insurance in Wyoming below.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Wyoming using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple each 40 years old or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Wyoming.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.