It is very interesting to have a look at the figures here. Costs of owning a vehicle are very high when you take gas prices, taxes, repair expenses and premiums into account. Car insurance rates in Wyoming are one of the most expensive in the USA as well. Even more interesting result is that it has the most auto ownership with 1.2 cars per head (1,200 cars per capita).
Despite the hefty overheads, the residents must love or need them because they are at the top of automobile ownership chart. The Equality State is the least populated and the second least densely occupied in the US. 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 private automobiles.
Another striking data is that living costs are average compared to the rest of the country. This is further impressive considering the contribution of vehicle running expenses to overall index. Most of the other necessities must be reasonably priced to compensate for it. Perhaps properties aren’t as prime here that reduces mortgage and rent payments, which usually takes away large chunks of incomes elsewhere.
Vehicle Insurance Prices in Wyoming
When the economy is good people spend money on luxury cars and want to protected them properly. This doesn’t seem to happen in here. Full coverage average is one of the most expensive in the country at $1,421 when median automobile insurance cost is only $640 (US average $841). These figures suggest that large number of motorists appear to buy basic liability policies. The more popular a certain type of product is the cheaper it gets. If the liability only is more popular it may mean that people have older or more economical automobiles. Still, you shouldn’t drop coverage to reduce costs. Instead you should start with asking how much protection do I need? Then, you should concentrate efforts on finding affordable premium for it by shopping around for the lowest quotes.
Again, densely populated areas would benefit from competition. The more people there are to sell policies the more aggressive companies and agents get to corner the market. They need to price goods and services competitively if they want to increase the take up that drives prices down. Premiums may be less competitive in places where there isn’t enough motorists to make it worthwhile to fight over. That would explain why there is a negative correlation here, in which rates go up as the level of coverage is increased. In most cases, the opposite would be true.
Wyoming Liability 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.
There must be a way of reducing rates 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 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 one company to come up with the goods. Most people take this reliance seriously and they don’t shop around themselves. They leave everything to intermediaries and this type of behavior may cost them dearly when the brokers aren’t doing enough to deliver value.
However, you don’t necessarily need them to find affordable quotes. There are so many advantages of searching on the Internet in comparison with a broker. First of all, you can play around with coverage or deductible to see how it will change costs. This is not the case with the agents, as you are likely to anger them if you keep changing requirements. Secondly, you are not pressured into buying anything in a hurry since it is easier to walk away from a laptop than walking away from a pushy salesperson.
Don’t just take their words for it and confirm if you are really getting the best deal. This is extra important when you are paying high premiums. Even a 10% saving may mean a lot of dollars for you. So, you may not have the luxury of auto renewing a policy without searching alternatives.
Cheap Car Insurance Companies in Wyoming
When you know who offers the best rates in the region it becomes much easier to find affordable coverage. That is why we like to let you know that the automobile insurers below are some of the cheapest in this state and therefore they should perhaps be given the first chance to quote.
- State Farm, $813
- GEICO, $856
- SAFECO, $927
Another one you might want to check is Grange. You can save aver $400 if you manage to find the most competitive one instead of the most expensive here. Finding the cheapest carriers is probably one of the most effective ways of lowering premiums. There are at least 20 ways of saving money but nothing as straightforward as shopping around and everyone can benefit from it regardless of credit score, driving history or experience.
This place keeps 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 median figure 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 price range is so incredibly tight that it doesn’t really make much of a difference to worry or be happy about.
Probably the real price difference would be between a good driver who gets most of the large discounts and a bad one who gets penalized each time for his record. If you are one of the latter type you can still check our tips to get economical car insurance for bad driving record. No matter how worse it is there is usually a solution. So, keep checking and why not start here.