Cheap Auto Insurance in Wyoming
Auto Insurance Requirements in Wyoming
If you’re planning to register a vehicle in Wyoming you’ll need to prove to the state that you have the financial resources to pay for any claims made against you is the result of an auto accident. In the insurance industry this is known as “establishing proof of financial responsibility.” To meet the requirements in Wyoming drivers have four options:
• secure a bond with a state licensed surety company
• security real estate bond with at least two entities owning real property in Wyoming
• deposit $25,000 in cash or securities with the state treasurer
• purchase liability insurance
Wyoming Minimum Liability Insurance
Most Wyoming drivers will meet legal requirements simply by purchasing a cheap auto insurance policy. As in any other state, the cheapest car insurance in Wyoming is a policy that offers nothing more than the minimum required liability amounts. Those amounts are known by industry professionals as 25/50/20.
The number 25 represents $25,000 of bodily injury or death coverage as applied to a single individual. For multiple victims of an accident, the number 50 represents a combined total of $50,000 to pay for bodily injury and/or death. Lastly, the number 10 represents $10,000 worth of coverage as applied to property damage. Notice that coverage for your injuries or damage to your car is not included here. You’ll need extra coverage to pay for those things.
For your own injuries you will depend on your health insurance plan to cover the expenses. If you’re worried you don’t have enough health insurance, you can purchase additional PIP (personal injury protection) coverage on your auto policy. For damage to your car you’ll need to buy collision and comprehensive coverage.
Providing Proof of Insurance
When you purchase a new policy your insurance company will enter your data into a system both they and the Department of Motor Vehicles have access to. Wyoming uses that database to locate uninsured drivers so the law can be enforced. In addition to the electronic reporting your insurance company will also send you an insurance identification card you need to carry in your vehicle all times. That card is to be produced when a police officer pulls you over or when you’re involved in an accident.
If you can’t produce your insurance ID card or state documentation proving you’ve elected one of the other options, you’ll be given a ticket. You’ll then have seven days to prove to the state that you indeed have proper coverage in force. The same can be said if a random computer check indicates you may not be insured.
If it turns out you really are not covered, penalties could be very severe. You’ll start with an automatic fine ranging between $250 and $750. Furthermore, you could be sentenced to a six-month jail term if a court determines the circumstances warrant. Subsequent offenses will increase the fines and jail time. Rest assured that cheap car insurance will be out of the question under these circumstances.