How Much Does Auto Insurance Cost for 16 Year Olds in Wyoming?

We always joke that when we write about car insurance, the word “cheap” should never be used anywhere to describe car insurance rates. The fact is, cheap car insurance for 16 year olds can be extremely hard to find. But don’t let that discourage you, because we are going to show you some ways you can quote and buy insurance that won’t break your budget.

The safety and performance level of the vehicle requiring insurance is a large factor when comparing quotes for low-priced car insurance for 16 year olds. Vehicles with limited top-end speed, a great safety record, or a positive history of liability claims will cost less to insure than high performance models. The next tables illustrates insurance rates for some of the most cost-effective vehicles to insure.

Cost estimates assume single male driver age 16, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wyoming minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in specific Wyoming garaging location which can lower or raise premiums considerably.

Prices above based on single male driver age 16, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wyoming minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in specific location information which can increase or decrease premium rates significantly.

Premium data assumes single male driver age 16, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wyoming minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in vehicle location which can change prices noticeably.

Deciding which companies quote the cheapest insurance rates for 16 year olds will require a little more work in order to find the lowest price.

Each company uses their own method to set policy rates, so we need to take a look at the overall cheapest insurance companies in Wyoming. We do need to point out that Wyoming insurance rates are impacted by many factors that can increase your annual premium. Turning one year older, marrying your spouse, or getting a reckless driving citation can trigger rate changes resulting in some rates now being more affordable than the competition.

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USAA generally has some of the cheapest car insurance rates in Wyoming at around $643 annually. Safeco, The Hartford, National Farmers Union, and GEICO would also be considered some of the lowest-priced Wyoming auto insurance companies.

As shown above, if you currently buy coverage from Safeco and switched to USAA, you might realize a yearly savings of in the vicinity of $265. Wyoming drivers with The Hartford might save as much as $291 a year, and National Farmers Union policyholders might lower prices by $327 a year.

To compare your rates to other Wyoming insurance companies, click here to get a free quote or quote rates from the companies below.

Understand that those policy rates are averaged for all types of drivers and the different vehicles they drive and do not take into consideration a price surcharge for 16 year olds. So the auto insurance company that can offer the best rates for your situation may not even be shown in the list of companies shown earlier. That illustrates why you need to quote rates from many companies using your own personal information and vehicle type.

For new drivers, one of the largest considerations that influence rate quotes is where you keep your car. More populated areas like Newcastle, Worland, and Laramie tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents benefit from having to pay less for coverage.

The illustration below lists the highest-priced places in Wyoming for 16 year olds in which to purchase auto insurance.

Premium amounts are approximated as the specific Wyoming residence address can change coverage prices greatly.

Comparison of full coverage and liability-only policies

Finding cheap car insurance for 16 year olds in Wyoming is important to the majority of people, and one easy way to lower the cost of insurance is to only buy liability insurance. The illustration below shows the difference between insurance costs when comparing full coverage to liability only. The information is based on no claims, a clean driving record, $100 deductibles, single status, and no discounts are factored in.

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If we average all the age groups together, physical damage insurance costs an additional $2,749 per year over and above liability only. At some point, almost every driver questions if physical damage coverage is worth the money. There is no written rule of when to stop paying for comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than about 10% of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your vehicle’s settlement value is $5,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,500 after paying the physical damage deductible. If you are paying in excess of $450 annually for physical damage coverage, then you may want to consider only buying liability coverage.

Does Allstate, State Farm, Geico, or Progressive have the cheapest car insurance?

When it comes to buying auto insurance for new drivers, four of the larger companies to compare rates for are Allstate, State Farm, Geico, and Progressive. The following table breaks down pricing and service ratings, plus some optional coverages that you can purchase from each one.

Who has the cheapest insurance quotes for new drivers?

Drivers have a lot of different ways to find cheap insurance in Wyoming, but the most preferred are through an exlusive agent like Auto-Owners or State Farm, an independent insurance agent, or from a direct company like Geico. All three ways are similar, but it’s important to point out the distinctions in how they provide price quotes.

Independent agents have contracts with multiple insurance companies and can get rate quotes from all of them. Independent agents have the option to get prices from more than one company, which can give you better odds of saving money. If your agent finds better pricing, your policy can be easily switched to a new company which prevents you from having to switch agents.

A captive or exclusive agent is able to place business with a single insurance company, examples being a State Farm or Allstate agent. These agents are unable to provide multiple price quotes, so you need to shop around if the rates are high.

Buying direct means you skip either of the other two types of agents and instead buy buying direct from a company like Geico or Progressive. Shopping direct may be good for drivers who do not need high levels of coverage and have a good understanding of what insurance covers.

So which of the methods works best to buy cheap car insurance for 16 year olds in Wyoming? One answer would be buying from a direct car insurance company results in the best prices since there is no middleman, but that is generally not the case. An argument could also be made that buying insurance from an independent agent guarantees the lowest rates since they have access to many companies, but that is not accurate either. And occasionally, exclusive agents have price quotes well below independent agents AND direct companies.

Since insurance prices are based on many different factors, the only real way to get the cheapest rates is to get quotes and compare. Set aside the time to get quotes from all three types to give yourself enough choices. To see some of the cheapest online companies available, click here to view.

How to find cheap car insurance for 16 year olds in Wyoming

It is possible to find better rates, and here are some of the better penny-pinching solutions that can help Wyoming drivers quote more affordable coverage.

• Save money by insuring older vehicles for liability only
• Do not get tickets
• Bundle home or renters insurance to earn a discount on car insurance
• Drive safe vehicles
• Prevent price hikes by avoiding at-fault accidents
• Avoid filing excessive claims
• Compare rate quotes frequently

The last suggestion is highly critical, as we discussed in the article above. Prices charged by car insurance companies go up and down frequently, so don’t be hesitant to buy from a different company if you can find a cheaper rate.

Staying with the same company for years is fine, but it’s not a great idea if it’s costing you money that could be used for better things. In less than five minutes you could compare rates to find cheaper car insurance for 16 year olds.