To cover your motorcycle from accidents, fire, theft and damages caused by weather events, you need motorcycle insurance. Getting personal injury coverage on your insurance can further cover you for your injuries if you are in an accident while riding your motorcycle. MoneyGeek analyzed the cheapest motorcycle insurance in Wyoming and the average rates quoted for different coverage levels. We also considered affordability, customer service and financial security of companies to determine which of them offers the best motorcycle insurance in Wyoming. If you’re looking for a motorcycle insurance policy in Wyoming and want to compare the companies and rates they offer, our research and analysis can help.
Motorcycle Insurance in Wyoming: The Cheapest Quotes and Best Companies
The Cheapest Motorcycle Insurance in Wyoming
The cheapest motorcycle insurance in Wyoming may not be the best option as it might only come with the minimum liability-only coverage required by Wyoming state law. A liability-only coverage plan will be cheaper because it does not cover your injuries or damages caused to your motorcycle if you’re at fault for the accident. It will only cover injuries and property damage to others involved in an accident. Taking that into consideration, a comprehensive and collision coverage policy could be better since it offers riders more protection.
MoneyGeek compared insurance rates and found the cheapest motorcycle insurance provider in Wyoming by using the profile of a low-risk rider with a 50/100/25 liability-only policy and a good driving record.
Cheapest Liability-Only Motorcycle Insurance Quotes in Wyoming
The following insurance companies offer the lowest average rates for liability-only coverage:
- Markel: $63 per year
- Progressive: $75 per year
GEICO offers the most expensive liability-only motorcycle insurance package. It charges $99 on average for a comparable policy, which is 36.4% more than Markel.
Average Annual Premium for Liability Coverage
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- CompanyAnnual Premium
Cheapest Full Coverage Motorcycle Insurance Quotes in Wyoming
A full-coverage policy, which includes comprehensive and collision coverage, offers the best protection for a motorcycle rider in Wyoming. The policy covers the costs of injuries caused in the collision, regardless of whether the motorcycle collided with a structure or a vehicle. A full-coverage policy also protects your bike against vandalism, natural disasters, theft and fire.
If you're still paying off your motorcycle loan, a full coverage policy is preferred to a liability-only policy with limited coverage. MoneyGeek analyzed the profile of a good rider with 50/100/25 coverage and a $500 deductible for a full coverage policy to find the cheapest motorcycle insurance companies in Wyoming.
The following companies offer the cheapest rates on average:
- Progressive: $139 per year
- Dairyland: $152 per year
Nationwide, which was the most costly for a full coverage policy, quoted an average annual cost of $552. This rate is 74.8% higher than Progressive's quote.
Average Annual Premium for Comprehensive and Collision
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- CompanyAnnual Premium
What Is the Average Motorcycle Insurance Cost in Wyoming?
Multiple factors affect motorcycle insurance rates in Wyoming. A few of them include coverage levels, motorcycle type, riding record, age and years of riding experience. After analyzing prices from various providers, MoneyGeek estimated the average cost of motorcycle insurance in Wyoming for full coverage and liability-only policies.
In Wyoming, a full-coverage policy will cost you an average of $247 per year or around $21 per month. This is $117 or 32% less than the national annual average.
A liability-only motorcycle insurance policy in Wyoming costs an average of $88 per year or $7 per month, which is $53 less than the national average of $141. Keep in mind, however, that a liability-only policy does not cover the motorcycle or any physical injuries incurred in an accident.
To calculate the cheapest insurance rates in Wyoming, MoneyGeek used a motorcycle insurance policy of $50,000/$100,000 bodily injury liability coverage and $25,000 property damage coverage. The full coverage policy considered had a $500 deductible.
Car Insurance Costs by Coverage Type
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- Policy TypeAverage 12-Month Cost in WyomingAverage 12-Month National CostVariance
- Full Coverage$247$364-$117
- Liability Only$88$141-$53
The Best Motorcycle Insurance Companies in Wyoming
MoneyGeek used a custom rating system to evaluate different insurance firms in Wyoming and determine the best motorcycle insurers with a strong balance of affordability and efficiency. The companies were analyzed based on insurance quotes for Wyoming, product offerings and selections, customer service, affordability and financial stability. More information about the scoring criteria can be found in our methodology. According to the calculations, the best motorcycle insurance carrier in Wyoming is Progressive.
- Offers a mobile app
- Discounted deductible for every claim-free year
- A wide range of add-on coverages and discounts
- Discounts aren’t the same for all states
- Coverage options may vary by state
- Some policies come with restrictions
Progressive is the best motorcycle insurance provider in Wyoming, according to MoneyGeek, with a score of 93 out of 100. A full-coverage policy from the insurer costs Wyoming riders an average of $139 per year, while a liability-only policy costs an average of $75 per year. Progressive offers excellent coverage options on your motorcycle insurance policy. Depending on the components of your bike, Progressive motorcycle insurance automatically covers custom and original equipment manufacturer (OEM) parts. The company also offers a complete replacement cost for your bike that does not consider depreciation value. This means that they will compensate you enough to restore your motorcycle to its pre-accident condition or better. Progressive will not increase the renewal premiums if you have been a customer for at least four years and have been an accident-free rider in the previous three years, giving policyholders a chance to save on their premiums.
- Offers Roadside assistance and trip interruption reimbursement
- Cheapest liability-only provider in Wyoming
- Offers impressive discounts
- No mobile app
- Roadside assistance isn’t available for all bikes
- No 24/7 claims support
Markel received a score of 89.64 out of 100 points to earn the ranking of the second-best motorcycle insurance company in Wyoming. While a full coverage insurance policy from Markel costs an annual average of $289, liability-only insurance will only cost you an average of $63 per year. Apart from the standard coverages, Markel offers some impressive add-on protections and great discounts. The company may lower your rates if you install safety devices and equipment, such as anti-theft alarms and anti-lock brakes. It also provides discounts to responsible riders who have had no more than one traffic violation in the past three years. Better yet, Markel gives a 25% discount on your deductible for every accident and claim-free year. You can even take advantage of a 10% discount on rates for just switching to Markel from another insurance provider.
- Rated high for product offerings and services
- Rewards experienced riders and prompt payers
- Offers medical expense coverage
- No mobile app
- Accidental forgiveness coverage starts a year after the policy start date
- Not the cheapest provider in Wyoming
Harley-Davidson was named Wyoming's third-best motorcycle insurance company, receiving 86.67 points out of a possible 100. The company's liability-only motorcycle insurance policy costs an average of $98 a year for a Wyoming rider. A full-coverage policy, on the other hand, costs around $164 per year on average. Harley-Davidson has some remarkable products and service offerings for its customers. Buying a Harley-Davidson motorcycle insurance policy entitles you to significant discounts and coverages. For example, the company provides optional equipment coverage. This covers non-standard or custom equipment used while modifying the bike. It also protects OEM parts if your bike is outfitted with genuine Harley-Davidson components. Covered members will benefit from roadside assistance coverage if their bike breaks down during a trip due to a battery failure, flat tire, insufficient gasoline or missing key. You may also be entitled to perks and discounts if you are a member of the Harley Owners Group.
How to Get a Motorcycle Insurance Quote in Wyoming
It's easy to obtain a motorcycle insurance quote online in Wyoming. You need to provide the following information (and potentially more):
- ZIP code and address in Wyoming where the bike will be located
- Your date of birth
- Vehicle make, model and manufacturing year
- Your riding record
- Insurance coverage elections (for more information on this, see below)
How Much Motorcycle Insurance Coverage Do You Need in Wyoming?
It is important to consider the state's minimum coverage requirements before purchasing a motorcycle insurance policy. Wyoming's motorcycle insurance laws and requirements have made it mandatory for all motorcycle riders to purchase a policy that covers at least the following coverages:
- $25,000 per-person bodily injury liability
- $50,000 per-accident bodily injury liability
- $20,000 property damage liability
How Much Insurance Coverage Is Required in Wyoming?
In Wyoming, all motorcycles must have a minimum liability-only coverage of 25/50/20. A policy of this kind will provide $50,000 in bodily injury coverage per accident with a $25,000 limit per person and property damage liability with a minimum limit of $20,000. If you are at fault for the accident, your insurance company will cover these claims.
Do You Need Uninsured Motorist, Underinsured Motorist or PIP Coverage in Wyoming?
According to state law, motorcycle riders in Wyoming are not required to have uninsured motorist, underinsured motorist or personal injury protection (PIP) as part of their motorcycle insurance. They only need bodily injury and property damage coverages. However, adding one or more of these coverages to your current motorcycle insurance policy will provide you with additional protection.
In Wyoming, the small cost for a large increase in coverage may be worth it. As a result, MoneyGeek suggests that riders in Wyoming choose a full coverage policy with at least 50/100/25 coverage, but preferably 100/300/100 coverage.
Frequently Asked Questions About Motorcycle Insurance in Wyoming
If you're shopping for a motorcycle insurance company in Wyoming, you must consider a number of factors. We've answered some of your most commonly asked questions, such as which company offers the cheapest insurance and how much motorcycle insurance costs in Wyoming.
To create this report, MoneyGeek collected motorcycle insurance quotes directly from insurers based on various coverage levels and driver profiles. The analysis can help you find the most affordable motorcycle insurance company in Wyoming. To find the best motorcycle insurance companies in the state, we used three criteria. These included the cost of the policy in Wyoming (60% weighting), product and service offerings (30% weighting) and AM Best's financial stability metrics (10% weighting). The most recent laws and requirements for purchasing an insurance policy were collected from the state DMVs to ensure you get the most accurate and up-to-date information.
About the Author
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- Injury Prevention. "Motor vehicle driver injury and marital status: a cohort study with prospective and retrospective driver injuries." Accessed March 9, 2021.
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- Insurance Information Institute. "Facts + Statistics: Teen drivers." Accessed March 5, 2021.
- Markel. "Motorcycle insurance discounts." Accessed May 14, 2021.
- Progressive. "Motorcycle Insurance Coverages." Accessed May 14, 2021.
- Wyoming Insurance Department. "Auto Insurance FAQ’s." Accessed May 14, 2021.