Who Has the Cheapest Auto Insurance for a Company Car in Wyoming?

One of the more important factors that is used to help calculate the cost of insurance is where your home is located in Wyoming. Areas with more people or higher crime rates like Newcastle, Wheatland, and Buffalo tend to pay higher rates, whereas less populated areas generally pay lower insurance rates.

The following table displays the most costly cities in Wyoming for a company car to buy car insurance in.

Information shown are approximated as zip code location can modify premium rates significantly.

The car, truck, or SUV that needs insurance is probably the largest consideration when quoting affordable auto insurance for a company car. Vehicles with lower acceleration and performance, good safety features, or a low likelihood of liability claims will cost much less to insure than adrenaline junky models. The information below estimates insurance prices for the most affordable vehicles to buy insurance for.

Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Wyoming minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in vehicle location which can affect premium rates noticeably.

Based on these rates, you can presume that models like the Honda CR-V, Dodge Grand Caravan, Chevrolet Traverse, and Toyota Prius will definitely be a few of the cheaper vehicles to insure for your employer’s vehicle.

Choosing the right car insurance provider is hard considering how many companies there are in Wyoming. The information listed below could help you decide which auto insurance companies to look at when trying find the best insurance for a company car. These rankings are only comprised of the companies with a significant amount of written premium nationwide, so companies that have a smaller presence will not be included in this list.

Top 10 Large Car Insurance Companies in Wyoming Ranked by A.M. Best Rating

1. USAA – A++
2. State Farm – A++
3. GEICO – A++
4. Esurance – A+
5. Nationwide – A+
6. Allstate – A+
7. Progressive – A+
8. The Hartford – A+
9. The General – A-
10. AAA Insurance – A

Top 10 Large Car Insurance Companies Overall in Wyoming

1. USAA
2. American Family
3. State Farm
4. The Hartford
5. AAA Insurance
6. GEICO
7. The General
8. Progressive
9. Allstate
10. Nationwide

Cost comparison with and without full coverage

Finding the cheapest auto insurance for a company car in Wyoming is probably important to the majority of vehicle owners, and one of the best ways to find cheaper insurance is to buy only liability coverage. The chart below shows the comparison of insurance prices when comparing full coverage to liability only. The data assumes a clean driving record, no claims, $500 deductibles, single status, and no other discounts are factored in.

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Averaged for all age groups, physical damage coverage on your policy costs an additional $2,252 per year over having just liability coverage. A very common question is when is the right time to remove full coverage. There is no clear-cut formula to delete physical damage coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

There are some situations where buying only liability insurance is not a good plan. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.

Which auto insurance company is best?

If you want reliable car insurance for your employer’s vehicle, the most popular companies are Geico, Progressive, State Farm, and Allstate. Between them, they insure almost 50% of all car insurance policies in America. They all have your normal coverages like liability, comprehensive, and collision, but each one offers slightly different coverage options that add value to each policy. The table below breaks down ratings and policy coverage options shoppers can expect to find with each one.

Cheap insurance quotes for your employer’s vehicle

Thanks to technology, there are a lot of ways to find cheap car insurance in Wyoming, but the most frequently used ways are through a captive (or exclusive) agency such as Allstate or Auto-Owners, an independent or non-exclusive agent, or from a direct company like Geico.

All three ways are similar, but car insurance buyers need to understand the differences in how they price policies.

Independent insurance agents write business for many companies and can do rate comparisons with every one. They are not locked into one company and can provide you with more rates, which may give you a better chance of finding cheaper coverage. If they quote lower rates, an independent agent can move your coverage and you stay with the same agent.

A captive or exclusive agent is able to quote prices with one company, for example State Farm and Allstate agents. These agents usually cannot provide multiple price quotes, so if their prices are high, they cannot shop around.

Choosing to buy car insurance direct means you do not use an agent and instead shop from a direct company like Geico or Progressive. Buying car insurance direct may be a decent choice people who do not have a need for a risk management assessment and have a decent understanding of what coverages they need.

Out of those three methods, which one works best to find the cheapest auto insurance for a company car in Wyoming? It would be easy to say buying direct saves the most money because you bypass the middleman, but that turns out to not be true. It would also be easy to say going through an independent agent guarantees the lowest rates because you have more choices, but again, it’s not necessarily true. In a lot of cases, exclusive agents have very competitive rates that are the cheapest in Wyoming.

Because of the variability of car insurance rates, the only true way to not overpay for car insurance is to compare, compare, and compare some more. In a perfect world, youll get price quotes from all three to get an idea of which is cheapest. For a list of companies with online discounts, click here to view.