Wyoming is very interesting state to have a look at the figures. It is one of the most expensive states to own a vehicle when you take gas prices, taxes, repair costs and premiums into account. Car insurance rates in here are one of the most expensive in the USA as well. Even more interesting result is that this state has the most car ownership. 1.2 cars are owned per head in the state (1,200 cars per capita).
The residents must love their cars a lot to face the highest costs and still remain at the top of auto ownership chart. Wyoming is the least populous and the second least densely populated of the 50 United States. This probably explains why so many people need a vehicle and quite a few have more than one. It is difficult to expect to have good public transport facilities in areas with low population. Lack of alternatives may be forcing citizens to keep their own automobiles.
Another striking data is that living costs are average in the state compared to rest of the country. This is further impressive considering the contribution of the costs of vehicle ownership to overall price index. Most of the other necessities must be fairly reasonably priced in The Equality State to compensate for expensive automobile ownership costs.
How Much Is Vehicle Insurance in Wyoming
When the economy is good in a state people spend money to buy expensive cars and want to get full coverage. This doesn’t seem to happen in there. Full coverage average is one of the most expensive in the country at $1,421 when average auto insurance cost is only $640 (US average $841). These figures suggest that large number of motorists appear to buy basic liability policies. Level of coverage chosen affects costs considerably as the above figures demonstrate. However, this doesn’t mean that you should drop coverage to reduce costs. Instead you should start with asking how much protection do I need? Then, you should concentrate your efforts on finding affordable premium for the coverage you want.
Again, densely populated areas would benefit from competition in the market. The larger the population the more companies want to take a bigger share of the market. They need to price their goods and services competitively if they want a larger share in the market that drives prices down. When you have scarcely populated states prices may be less competitive and that may be why motorists pay more here.
Wyoming Liabilities Auto Insurance Minimum Requirements
- $25,000 for bodily injury or death per person.
- $50,000 total for bodily injury or death per accident.
- $20,000 for property damage.
You can find out more on the Department of Insurance site.
There must be a way of cutting the costs down a bit, right? Shopping around for the better deals will help you get to the bottom of it. If you need help you can talk to a broker. You can find one here if you don’t already know one. You should only work with a good independent broker who would go out of his/her way to help you. When you work with an agent you are relying on the company to come up with the goods. Most people take this reliance seriously and they don’t shop around themselves. They leave everything to their brokers. You would see disadvantages of this type of behavior when your agent is not doing enough for you.
However, you don’t necessarily need a broker to find affordable quotes. There are so many advantages of checking prices on the Internet in comparison with a broker. First of all, you can play around with your coverage or deductible to see how it will change costs. If you keep changing your coverage you are likely to piss of your broker. Secondly, you are not pressured into buying anything in a hurry since it is easier to walk away from your laptop than walking away from a pushy agent.
Don’t just take their words for it and confirm if you are really getting the best price. This is extra important when your state already have one of the most expensive premiums in the country. Even a 10% saving may mean a lot of dollars for you.
Cheap Car Insurance Companies in Wyoming
When you know a few good cheap auto insurers it becomes much easier to find affordable coverage for your needs. That is why we like to let you know that the insurers below are some of the cheapest in your state.
- State Farm, $813
- GEICO, $856
- SAFECO, $927
Another insurer you might want to check is Grange. You can save aver $400 if you manage to find the most competitive insurer instead of the most expensive one here. Finding the cheapest insurer is probably one of the most effective ways of getting your premium down here. There are a few other ways of saving on auto insurance in general and you can check 20 of them in that post.
Wyoming keep surprising us in terms of vehicle insurance costs. There isn’t really a city with noticeably high or low average premiums in this state. Most of them huddle around the average comfortably. Sheridan, Green River, Rock Springs, Cheyenne and Riverton are the cheapest cities to insure cars. And Lander, Fort Washakie, Worland, Buffalo and Jackson are the most expensive cities in Wyoming to insure automobiles. However, the average price range between the most expensive and cheapest is so incredibly tight that there is no reason to worry about it when you are living in the most expensive city for car insurance or no reason to be happy with the cheapest.
Probably the real price difference would be between a good driver who gets most of the large discounts and a bad driver who get penalized each time for his record. If you are one of the latter type of driver you can still check our tips to get economical car insurance for bad driving record.