The words "low-cost" and "auto insurance" probably shouldn't be used together, specifically when you are trying to find the cheapest coverage for a school permit. Because of the high cost, let's get started by showing you some of the things that can significantly affect auto insurance rates, and come up with some ways to shave a little off your next policy.
The type of vehicle requiring insurance is a significant factor when looking for the most affordable insurance for a school permit. Vehicles with more horsepower, poor safety ratings, or a high likelihood of having liability claims will cost more to insure than more economical and safe models.
The information below shows coverage rates for a selection of the most economical automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$3,651|
|Honda Accord LX 4-Dr Sedan||$3,657|
|Honda CR-V LX 4WD||$3,651|
|Hyundai Elantra SE Touring Station Wagon||$3,928|
|Honda Odyssey LX||$4,054|
|Chevrolet Impala LS||$4,292|
|Ford Focus SE 4-Dr Sedan||$4,299|
|Ford Edge SEL AWD||$4,292|
|Toyota RAV4 Limited 2WD||$4,331|
|Toyota Camry LE||$4,341|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$4,367|
|Dodge Grand Caravan Crew||$4,376|
|Ford Explorer Eddie Bauer 4WD||$4,367|
|Toyota Corolla XLE||$4,571|
|Nissan Altima 2.5 S 4-Dr Sedan||$4,578|
|Chevrolet Silverado LS Crew Cab 4WD||$4,607|
|Jeep Grand Cherokee Limited 2WD||$4,612|
|Chevrolet Malibu LTZ||$4,607|
|Chevrolet Equinox LTZ 2WD||$4,616|
|Volkswagen Jetta SE 4-Dr Sedan||$4,607|
|Ford F-150 Lariat Crew Cab Platinum 4WD||$4,646|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$4,655|
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Price data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wyoming minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in specific Wyoming garaging location which can modify rates significantly.
Based upon these rates, you can assume that cars like the Ford Escape, Honda Accord, Honda CR-V, and Hyundai Elantra should be a few of the more affordable vehicles to insure for a learners permit. The price of auto insurance will tend to be higher just because there is more exposure for a school permit, but in general those particular vehicles will tend to have the lowest insurance rates that you'll find.
Figuring out which insurers offer the cheapest car insurance rates for a school permit in Wyoming will take a little more sweat than just quoting one company's rates.
Each company uses their own method for determining rates in each state, so let's look at the rankings for the most budget-friendly car insurance companies in Wyoming. It's a good idea to know that Wyoming car insurance rates are impacted by many things which can substantially change the price you have to pay for coverage. Getting older, getting divorced, or getting a speeding ticket may prompt premium changes that can make some companies more affordable than the competition.
Find Cheaper Auto Insurance for Students
|Rank||Company||Cost Per Year|
|4||National Farmers Union||$970|
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USAA may offer some of the best car insurance rates in Wyoming at around $624 a year. This is $496 less than the average price paid by Wyoming drivers of $1,120. Safeco, The Hartford, National Farmers Union, and GEICO would also be considered some of the cheapest Wyoming auto insurance companies.
As the rates illustrate above, if you are insured with Safeco and switched to USAA, you could earn a yearly savings of approximately $284. Drivers with The Hartford might save as much as $300 a year, and National Farmers Union policyholders might reduce rates by $346 a year.
Bear in mind that those premium estimates are averages for all types of drivers and the different vehicles they drive and do not factor in a rate increase for a school permit. So the company that fits you best may not even be in the list above. That point stresses why you need to get car insurance quotes using your own specific driver information and vehicle.
Driving violations and accidents
One of the best ways to score the most affordable car insurance premiums in Wyoming for a learners permit is to pay attention while driving and maintain a clean driving record. The chart below illustrates how traffic citations and at-fault claims drive up car insurance costs for different age groups of insureds. Data assumes a married male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
In the prior example, the average cost of car insurance in Wyoming per year with no accidents or violations is $1,701. Factor in one speeding ticket and the average cost increases to $1,960, an increase of $259 each year. Next add one accident along with the one speeding ticket and the 12-month cost of car insurance for a school permit in Wyoming goes up to an average of $2,682. That's an increase of $981, or $82 per month, just for not being more responsible behind the wheel!
Liability only or full coverage
Saving money when shopping for car insurance is probably important to most vehicle owners, and one of the best ways to lower the cost of insurance for a school permit in Wyoming is to not buy full coverage. The chart below illustrates the difference between auto insurance costs with liability coverage only compared to full coverage. The premiums are based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied.
Averaged out for all age groups, physical damage coverage costs an additional $2,053 per year more than just buying liability insurance. Many people question if buying full coverage is a good investment. There is no set rule for eliminating full coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let's say your vehicle's replacement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $10,000 after the policy deductible has been paid. If premiums are more than $1,000 a year for your policy with full coverage, then it might be time to consider dropping full coverage.
How to find budget-friendly auto insurance for a school permit
It's not impossible to find cheaper rates, and here are some thrifty ideas that can help Wyoming drivers find cheap auto insurance.
- Maintain a safe distance and avoid accidents
- Be a safe driver
- Raise deductibles to save money
- Higher credit scores can equal lower rates
- Choose a safer vehicle and pay lower rates
- Shop your coverage around for the best deal
That final tip is especially valuable, as we noted in this write-up. Auto insurance rates can change considerably in a year, so don't hesitate to change to a new company if you find a better deal. Loyalty to a specific company is fine, but it's not a good idea if that faithfulness ends up costing you big bucks every year. In just a few minutes you could compare rates to find cheaper car insurance for a school permit.