The best, cheapest car insurance in Wyoming

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Best car insurance company in Wyoming

Drivers in Wyoming pay an average of $1,758 a year or $146 a month for car insurance coverage which makes it the 31^st most expensive state in the country.

Even though car insurance is pretty expensive in Wyoming, it’s possible to find affordable coverage with top insurers such as State Farm, Farmers, GEICO, and other insurers.

State Farm is our choice for the best car insurance in Wyoming. It finished first in our rankings with 4.53 out of 5 stars and an average premium of $1,521 a year, or $127 a month, which is $237 less than the state average.

Farmers was second with a score of 3.85 stars followed by GEICO with 3.68 stars.

The best car insurance companies in Wyoming

How we picked the top auto insurance companies

When choosing the top car insurance companies in the state, we not only looked at the average cost of coverage but also J.D. Power customer satisfaction scores, AM Best financial strength ratings and National Association of Insurance Commissioners (NAIC) complaint rankings. National averages were used where state/regional data was not available.

For each of the four metrics, we gave companies in each state from 1 to 5 (5 being the best) based on how they performed in each category. Those components were then given the following weights to arrive at an overall star rating.

• Premiums: 25%
• JD Power: 30%
• AM Best: 25%
• NAIC: 20%

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Cheapest car insurance in Wyoming

State Farm is the cheapest option for car insurance in Wyoming.

Insurers consider a wide variety of factors when setting a premium including your driving record, credit score, age and marital status as well the vehicle. Where you live also affects rates.

“States that have a higher rate of severe weather that damages cars or helps cause accidents will typically have higher rates,” says Chong Gao, director of product management R&D at Mercury Insurance. “Florida, for example, is prone to extreme weather like hurricanes and its car insurance costs are consequently much higher.”

Insurance companies crunch all this data with proprietary algorithms, which can result in dramatic differences in premium quotes.

The numbers highlight these differences. Allstate is the most expensive insurer in Wyoming with an average premium of $2,831 a year.

On the other hand, as mentioned above, the average premium for State Farm policyholders in Wyoming is $1,521 a year. Farmers had the second cheapest coverage in Wyoming at $1,623 and GEICO rounded out the top three cheapest at $2,514.

Below is a list of the cheapest full-coverage car insurance rates in Wyoming for a 40-year-old driver of a 2023 Honda Accord LX.

Cheapest full-coverage insurance in Wyoming

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Full coverage car insurance in Wyoming

As noted, the rates above are for full coverage car insurance. Full coverage car insurance adds collision and comprehensive to your liability insurance coverage, so your vehicle is repaired or replaced after an incident.

Full coverage insurance includes collision and comprehensive which will pay to repair your vehicle. Collision covers damage caused by a collision with another vehicle or object while comprehensive repairs damage done by perils such as fire, theft, flooding, vandalism, and more.

Learn more about liability, collision and comprehensive coverage.

Shopping for car insurance in Wyoming

Shopping around for coverage is a great way to make sure you are getting the best rates on your auto insurance. Experts often tell consumers to shop for insurance yearly. But that doesn’t necessarily mean you should be looking to switch.

“I recommend that people stay with the same insurance company, as they tend to get a better rate when they have been with the same carrier for more than 12 months. The more tenure you have with a carrier, the more potential there is to earn benefits,” says Tim Bottini, a Country Financial insurance agent based in St. Louis. “The carrier can also review your claims history and provide information about applicable discounts.”

But make sure you are comparing like coverage levels and deductibles.

“It is extremely important to make sure you start off with an apples-to-apples comparison,” Bottini says. “However, if a person has low limits, say 25/50/25 – limit per person/per occurrence/limit for property damage – I am going to recommend and quote at least 50/100/100. Depending on their age, income and profession, I would quote higher limits to protect their net worth and earnings potential.”

Bottini also says people can save money on their car insurance by keeping their credit score up, following the speed limit and placing both home and auto insurance with the same carrier.

Cheapest car insurance in Wyoming by age

Insurance companies consider your age when setting a premium and teens and young adults pay more for coverage as statistics show that young drivers, because they are inexperienced, have more accidents and claims.

Regardless of your age, in Wyoming, State Farm is the most affordable coverage with an average rate of $1,521 a year.

As teens transition into young adults and get more experience under their belt rates start to drop. By their mid to late-20s – assuming they keep their record clean – driver rates should stabilize and then stay stable until the driver moves into their 70s when rates will start climbing again.

Cheapest car insurance for senior drivers in Wyoming

Seniors in the state pay more for coverage than all other driver groups, except for teens. State Farm is the most affordable option for seniors with a yearly premium of $1,370 or $114 a month. Farmers was the second cheapest at $1,704 and GEICO rounded out the top three at $2,770.

Seniors tend to pay more for coverage due to age. Many seniors suffer from vision and hearing issues as well as slowing reflexes. In addition, medications they may take can impact their driving. All of these factors combined lead to more accidents and claims which will result in a higher premium.

The chart below shows the average premium for senior drivers.

Average rates for seniors in Wyoming

Car insurance for young drivers in Wyoming

Young drivers (21-25) have seen their premiums drop from their teen years, but they still pay more than more experienced drivers. In Wyoming, State Farm is the cheapest option for young adults with a yearly premium of $2,555 or $213 a month.

Farmers is the next most affordable with an average rate of $3,073 followed by GEICO at $3,823.

Young drivers who maintain a clean driving record can expect their rates to drop even more as they reach their late 20s.

The table below shows the best insurers for young drivers in Wyoming:

Average rates for young drivers in Wyoming

Car insurance for teen drivers in Wyoming

Insuring a teen is always expensive; statistics show that inexperienced teen drivers get into more accidents and file more claims than more experienced drivers. In Wyoming, the best insurer for teen drivers is Farmers with an annual premium of $3,939 or $328 a month. State Farm was second most affordable at $4,336 a year or $361 monthly while GEICO was number three at $5,910.

While teens are expensive to insure, there are a few ways to save some money. Most insurers offer a good student discount so if your teen is carrying a B average or above you should ask for a discount. Putting them in an older vehicle will also lower your insurance costs.

The chart below shows average premiums for teens.

Average rates for teens in Wyoming

Average cost of car insurance in Wyoming

In Wyoming, the average premium is $1,758, which makes Wyoming the 31^st most expensive state for coverage.

All states have large metropolitan areas, which will always push up the cost of insurance as more vehicles on the road lead to more accidents and claims. A high crime rate will also impact rates.

“If a state has a higher rate of car insurance claims associated with vandalism or car theft, prices are usually higher because car insurance companies view insuring these cars as a higher risk for them,” says Chong Gao, director of product management R&D at Mercury Insurance.

The chart below is the average rate in each state for a 40-year-old driver of a 2023 Honda Accord LX.

Average rates for a 40-year-old in Idaho

Which Wyoming ZIP codes are the most expensive for car insurance?

Insurers consider the ZIP code where your car is parked when setting a premium. High crime rates or frequent severe weather will result in a higher premium.

According to our analysis, the following ZIP codes are the most expensive in Wyoming for car insurance. Teton Village tops the charts at $1,825 a year.

Here are the most expensive ZIP codes in Wyoming for car insurance:

Most expensive ZIP codes in Wyoming

Which Wyoming ZIP codes are the cheapest for car insurance?

The cheapest ZIP codes for car insurance in Wyoming tend to be in rural areas where there are fewer people and cars which leads to lower accident and claim rates. Cheyenne has the most affordable ZIP code in Wyoming with an annual premium of $1,676.

Least expensive ZIP codes in Wyoming

Cheapest car insurance for high-risk drivers in Wyoming

Drivers with a speeding ticket, DUI or at-fault accident on their record are often considered high-risk drivers and end up paying more for coverage. The increase can range from reasonable for a speeding ticket to a big leap in costs for a DUI.

The data showed that a speeding ticket will result in a 33% increase, pushing the average rate to $2,343. Speeding tickets will typically impact your premium for at least three years.

An at-fault accident will raise your rates by 42% to an average of $2,496. A DUI will result in the biggest increase, sending your premium up 133% to an average of $4,114.

The table below shows the average increase for drivers with an incident on their record:

How much rates increase in Wyoming after a traffic incident

Minimum car insurance requirements in Wyoming

Most states require drivers to carry a minimum amount of liability car insurance, and Wyoming is no exception. Drivers are required to carry 25/50/20 in liability coverage, which translates into:

• $25k for injury/death per person
• $50k for injury/death per accident
• $20k for damage to property

But state-required minimums are rarely enough coverage in a serious accident. If you cause an accident and the damages exceed your coverage levels, you will need to cover the damages out of pocket.

The most common required coverages are $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident and $25,000 property damage.

Experts typically recommend carrying 100/300/100 as a minimum liability coverage level.

What our expert says

Q: How does a state’s population affect car insurance rates?

Chong GaoDirector of product management R&D at Mercury Insurance.

“States with a higher population density have more cars on the road and thus more accidents and claims, increasing insurance rates. A more rural state like Iowa will have significantly lower average yearly car insurance costs compared to a highly metropolitan state like Wyoming.”

Mark Vallet

Contributing Researcher

 

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Mark Vallet is a Denver-based insurance expert and journalist with 18 years of experience covering the car insurance industry. He specializes in breaking down complex insurance topics into clear, expert-backed insights that help drivers make smarter insurance coverage decisions.

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