Wish you could get a refund on an overpriced auto insurance policy? It's quite common and there are many Cheyenne drivers thinking the same thing.
It's shocking but the vast majority of consumers have purchased from the same company for over three years, and approximately 40% of consumers have never compared rates to find affordable insurance. Drivers in Cheyenne can cut their rates by nearly $200 a year, but they don't know the actual amount they would save if they switched to a more affordable policy. Due to the abundance of auto insurance companies to choose from, it's difficult to locate the best insurance company.
Finding cheaper Cheyenne car insurance rates is actually quite simple. All you need to do is spend a little time comparing free Cheyenne car insurance quotes from some recommended companies.
It's so fast and easy to compare rate quotes online that it takes the place of having to call or drive to each insurance agency near you. The internet can eliminate the need for a local agent unless you want the professional abilities of a licensed agent. It is possible to get the lowest quotes online but buy from a local insurance agent.
The following companies have been selected to offer comparison quotes in Cheyenne, WY. If multiple companies are listed, it's a good idea that you visit as many as you can to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|3 I Sport 4-Dr Sedan||$190||$360||$484||$28||$144||$1,206||$101|
|3 I SV 4-Dr Sedan||$238||$458||$376||$22||$112||$1,206||$101|
|3 I Touring 4-Dr Sedan||$148||$338||$404||$24||$122||$1,036||$86|
|3 S Sport 4-Dr Hatchback||$268||$544||$336||$20||$100||$1,268||$106|
|3 S Sport 4-Dr Sedan||$218||$434||$376||$22||$112||$1,162||$97|
|3 S Grand Touring 4-Dr Hatchback||$284||$506||$370||$22||$110||$1,292||$108|
|3 S Grand Touring 4-Dr Sedan||$188||$338||$366||$22||$110||$1,024||$85|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Wyoming minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Premium amounts do not factor in vehicle location which can increase or decrease insurance rates noticeably.
Responsible drivers pay cheaper car insurance rates
The example below demonstrates how speeding tickets and accident claims drive up Mazda 3 insurance costs for different insured age categories. The premiums are based on a single female driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
Difference between liability only and full coverage rates
The illustration below examines Mazda 3 yearly insurance costs when comparing full coverage to state minimum liability only. The information is based on no claims, a clean driving record, $500 deductibles, single female driver, and no additional discounts are factored in.
Should you be buying full coverage?
There isn't a written rule to stop buying full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let's pretend your Mazda 3 claim settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,000 after the policy deductible has been paid. If it's costing in excess of $700 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are a few cases where only buying liability is not recommended. If you haven't satisfied your loan, you have to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.
It may be expensive, but it's not optional
Despite the potentially high cost of Mazda 3 insurance, paying for car insurance is required in Wyoming but also provides important benefits.
First, most states have minimum liability requirements which means it is punishable by state law to not carry a specific level of liability insurance if you drive a vehicle. In Wyoming these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
Second, if you have a loan on your 3, it's guaranteed your bank will force you to have insurance to protect their interest in the vehicle. If coverage lapses or is canceled, the bank may buy a policy for your Mazda at a more expensive rate and require you to pay for the much more expensive policy.
Third, insurance safeguards both your Mazda 3 and your assets. Insurance will pay for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, will also pay for a defense attorney if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your 3 definitely exceed the price paid, particularly for liability claims. But the average driver in Wyoming is currently overpaying as much as $865 each year so compare quotes from several companies every year to ensure rates are competitive.
Insurance Price Influencing Factors
Part of the auto insurance buying process is learning some of the elements that go into determining auto insurance rates. If you know what controls the rates you pay, this allows you to make good choices that could help you find lower premium levels.
Theft deterrents save - Choosing to buy a car with a theft deterrent system can help lower your premiums. Theft deterrent systems such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help stop your car from being stolen.
Stressful job may mean higher premiums - Did you know your occupation can influence how much you pay for auto insurance? Careers like military personnel, air traffic controllers, and medical professionals have higher premium rates attributed to high stress and lots of time spent at work. Conversely, careers such as actors, athletes and performers have the lowest average rates.
Always have auto insurance - Driving without insurance coverage in place is illegal and as a result your rates will increase for letting your insurance coverage expire. And not only will your rates increase, the inability to provide proof of insurance might get you fines or a revoked license. You may then have to provide proof of insurance in the form of an SR-22 filing with the Wyoming motor vehicle department to get your license reinstated.
How old are your drivers? - Older insureds are more cautious drivers, statistically cause fewer accidents, and get fewer tickets.Drivers with little experience are statistically shown to be careless and easily distracted when driving with friends so they pay higher auto insurance rates.
Don't buy add-on coverages you don't use - There are many extra bells and whistles that you can get tricked into buying if you don't pay attention. Add-on coverages like roadside assistance, accident forgiveness, and extra equipment coverage could be just wasting money. They may sound like good ideas when talking to your agent, but if you don't need them get rid of them and save.
Mazda 3 claim probability - Companies analyze historical claim data to help calculate a profitable premium rate. Models that are shown to have higher loss trends will have higher premium rates. The table below illustrates the insurance loss data used by companies for Mazda 3 vehicles.
For each policy coverage, the statistical loss for all vehicles, as a total average, is a value of 100. Percentage values below 100 represent a good loss history, while percentage numbers above 100 point to more frequent losses or larger claims.
Auto Insurance Loss Data for Mazda 3 Models
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Mazda 3 Hatchback||91||80||96||81||73||86|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Cheyenne car insurance discounts
Car insurance is not cheap, but discounts can save money and there are some available that you may not even be aware of. Certain discounts will be triggered automatically at the time of purchase, but a few need to be specifically requested prior to getting the savings.
- Student Discount for Driver Training - Make teen driver coverage more affordable by requiring them to successfully complete driver's ed class in school or through a local driver safety program.
- Accident-Free Discounts - Cheyenne drivers who stay claim-free can save substantially when compared with frequent claim filers.
- Pay Upfront and Save - If paying your policy premium upfront rather than paying in monthly installments you can actually save on your bill.
- Theft Deterrent - Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and that can save you a little bit as well.
- Discounts for Government Workers - Employees or retirees of the government could cut as much as 10% off but check with your company.
- New Vehicle Savings - Buying a new car model can save you some money compared to insuring an older model.
- Defensive Driving Course - Successfully completing a course that instructs on driving safety is a good idea and can lower rates if your company offers it.
- Accident Forgiveness - This one is not really a discount per se, but companies like State Farm and Allstate will turn a blind eye to one accident before they charge you more for coverage so long as you are claim-free prior to being involved in the accident.
- Discount for Passive Restraints - Factory options such as air bags and/or automatic seat belt systems can qualify for discounts as much as 30%.
It's important to understand that most credits do not apply to the whole policy. A few only apply to individual premiums such as comp or med pay. So even though you would think having all the discounts means you get insurance for free, companies don't profit that way.
A few companies that may offer quotes with some of the above discounts are:
When getting free Cheyenne car insurance quotes, it's a good idea to every company how many discounts you can get. Some credits may not apply in Cheyenne.
When do I need an agent's advice?
When it comes to buying the right insurance coverage, there is no "best" method to buy coverage. Your financial needs are unique.
These are some specific questions might point out if your insurance needs would benefit from an agent's advice.
- When should I remove my kid from my policy?
- How much liability do I need to cover my assets?
- Is a driver training discount available?
- Are rock chip repairs covered?
- How high should deductibles be on a Mazda 3?
- Does every company file a SR-22 automatically?
If you can't answer these questions but a few of them apply, you might consider talking to an insurance agent. If you don't have a local agent, complete this form. It only takes a few minutes and you can get the answers you need.
Local insurance agents
Certain consumers still like to buy from a licensed agent and there is nothing wrong with that. Professional agents can answer important questions and help file insurance claims. A good thing about comparing car insurance online is that you can obtain the lowest rates and still buy from a local agent.
To find an agent, once you fill out this short form, your insurance coverage information is instantly submitted to insurance agents in Cheyenne who want to provide quotes to get your business. You won't even need to contact any insurance agencies since rate quotes are delivered immediately to you. If for some reason you want to get a price quote from a specific car insurance provider, you just need to jump over to their website to submit a rate quote request.
Choosing an provider is decision based upon more than just a cheap quote. These are some questions your agent should answer.
- Do you work with a CSR or direct with the agent?
- Will a damage claim use OEM or aftermarket replacement parts?
- How many companies do they write for?
- Does the agent recommend any additional coverage?
- Does the company allow you to choose your own collision repair facility?
- How much can you save by raising your physical damage deductibles?
If you prefer to buy car insurance from an insurance agent, it helps to know the two different agency structures that you can select. Car insurance agents are classified as either independent or exclusive depending on the company they work for. Both provide car insurance policies, but it is a good idea to know why they differ because it can impact which type of agent you select.
These type of agents can only quote rates from one company like State Farm, Allstate, or Farmers Insurance. These agents are unable to shop your coverage around so always compare other rates. Exclusive insurance agents are usually quite knowledgeable on their company's products which helps overcome the inability to quote other rates.
Listed below is a short list of exclusive agencies in Cheyenne that are able to give price quotes.
Independent Agents (or Brokers)
Independent agents are normally appointed by many insurers so they have the ability to put coverage with a variety of different insurance companies and find the cheapest rate. If they find a lower price, your agent can just switch to a different company and you don't have to switch agencies. If you are comparing car insurance prices, it's a good idea to include rate quotes from a couple of independent agencies so that you can do a thorough price comparison.
Shown below is a list of independent insurance agencies in Cheyenne that are able to give price quote information.
4012 Laramie St - Cheyenne, WY 82001 - (307) 635-6500 - View Map
Cheaper car insurance is a realistic goal
Drivers switch companies for a number of reasons such as lack of trust in their agent, extreme rates for teen drivers, an unsatisfactory settlement offer and being labeled a high risk driver. Regardless of your reason, finding a great new company is less work than it seems.
In this article, we covered many tips how you can find affordable Mazda 3 insurance in Cheyenne. The key thing to remember is the more you quote Cheyenne car insurance, the better your comparison will be. Drivers may even discover the lowest auto insurance rates come from a smaller regional carrier.
When trying to cut insurance costs, make sure you don't reduce coverage to reduce premium. There are a lot of situations where someone sacrificed comprehensive coverage or liability limits only to discover later that the small savings ended up costing them much more. The ultimate goal is to buy the best coverage you can find at the best possible price, not the least amount of coverage.
More detailed car insurance information is located at these sites:
- Determining Your Vehicle's Value and Repair Cost (Insurance Information Institute)
- Who Has Affordable Wyoming Auto Insurance Rates for Single Moms? (FAQ)
- How Much is Wyoming Auto Insurance for a Nissan Versa? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Your Car has been Stolen: Now What? (Allstate)