WYOMING Auto Insurance

A Brief Insight to the Auto Insurance Rules and Coverage in Wyoming

Wyoming auto insurance coverage is among the most affordable in the country. Wyoming is considered a tort state, which means that drivers are financially responsible for any damage and injury they cause during an auto accident. Most drivers purchase liability insurance to fulfill this responsibility. The minimum uninsured motorist coverage is $25,000 for bodily injury coverage per person and $50,000 per accident. Under this coverage, protection is afforded to you, family members, or guest passengers for injuries caused by a hit and run driver or a driver who does not have auto insurance.

The state's liability minimums are 25/50/20

Minimum Coverage: : Wyoming auto insurance laws require liability coverage of 25/50/20. (That's $25,000 per person for injuries you cause to the other party, up to $50,000 for all, and $20,000 for damage you cause to the other party's property.)

However, these are only minimums, and higher levels of coverage are strongly recommended, especially if you have assets to protect. After all, accidents can get very expensive, especially if injury is involved.

Wyoming auto insurance law set these mandatory coverages as a matter of social policy, mainly to improve the chances that a person who causes an accident has enough insurance to pay for the damage caused. On the other hand, some consider these limits insufficient protection for most people.

You are required by law to have certain minimum level of coverage:

Medical payments, PIP, and no-fault coverageMedical payments (MedPay) coverage will pay for your and your passengers' medical expenses after an accident. Personal injury protection (PIP) and broader "no-fault" coverages are expanded forms of medical payments protection that may be required in your state. Some states have optional PIP or no-fault coverage. Expanded features include payments for lost wages and childcare.

For some coverage, you can buy higher limits than the minimum required. Your insurance producer or company representative can provide complete details.

Wyoming Auto Insurance Law

Wyoming has a financial responsibility law. It is designed to make sure that any motorist licensed to drive in Wyoming has insurance or enough money to pay for losses that may result from an auto accident. Your car insurance coverage in Wyoming must provide a minimum of $25,000 for injury liability for one person in an accident, $50,000 for all injuries in an accident, and $20,000 for property damage in an accident. Wyoming auto insurance laws also require that drivers purchase uninsured and underinsured motorist coverage. These policies will help pay the cost of your expenses should you be in an accident with a driver with inadequate liability insurance.

An operator's policy of liability insurance must insure the person named as insured against loss from the liability imposed upon him by Wyoming auto insurance law for damages arising out of the use by him of any motor vehicle not owned by him, within the same territorial limits and subject to the same limits of liability required for an owner's policy. Wyoming auto insurance companies will also offer optional coverages such as medical payments, collision, comprehensive; uninsured and underinsured motorist's bodily injury coverage.

The purpose of this law is to keep drivers off the highway if they cannot bear the cost of injuries or damage that they cause.

Mandatory Requirements:

Auto insurance is a legal requirement in most states and Wyoming is not an exception. State laws typically say that as a driver, you either must have insurance, or be able to provide evidence that you have the financial resources to pay a judgment against you, if you are responsible for causing damage or injury to another person/property. An insurance policy is the easiest way to document that you can pay damages if you must. You also need auto insurance to protect yourself financially.

In accordance with Wyoming auto insurance law, other acceptable documents to prove insurance include:

How Auto Insurance Rate Are Determined in Wyoming

For better or for worse, the price of Wyoming auto insurance is decided by the behavior of the state's drivers as a whole. Wyoming auto insurance companies take the cost of insuring Wyoming drivers (this includes what they pay out for injury and damage, legal and administrative fees, and the cost of prosecuting insurance fraud) and divide it up among the drivers.

But the cost isn't spread around evenly. Instead, Wyoming car insurance providers calculate how much a certain "category" of driver costs them, and decide premiums based on that. The "category" you're in is decided by your driving record, your age, where you live, and the kind of car you drive, among other things.

Of course, not all Wyoming auto insurance providers use the same categories and calculations, so the same set of characteristics (yours!) will be seen very differently by different insurance companies. And they'll quote you different rates. What this means for you, as a Wyoming driver, is that you need to shop around. It's the fastest easiest way to save on a Wyoming auto insurance policy.

Enjoying the freedom and mobility your vehicle provides is part and parcel of the American dream. Our job is to help you protect that dream.