Analysis: Wyoming motorists pay lowest auto insurance premiums

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Published Saturday, February 13, 2021
by The Center Square

(The Center Square) - With an average annual premium of $274, Wyoming motorists pay the lowest car insurance rates in the country.

That's according to a new analysis by Wallethub, which compared premiums across the U.S. based on certain criteria.

"WalletHub compared full coverage rates for policies that include collision and comprehensive coverage with a $500 deductible, $100,000 in bodily injury liability coverage per person (up to $300,000 per accident), $50,000 of property damage liability coverage per accident, $100,000 in uninsured motorist bodily injury coverage per person (up to $300,000 per accident), and $50,000 in uninsured motorist property damage coverage per accident," the consumer finance website said of its analysis. "We used a 45-year-old, single man with a clean driving record and good credit as the policyholder for these sample quotes."

Wyoming's average premium bettered the next closest state by more than $50 annually. South Dakota and Iowa drivers fitting Wallethub's criteria pay an annual premium of $326 annually, good for a tie for second.

At the other end of the spectrum, Michigan drivers pay the highest average premium, at $1,908 annually. New York drivers pay the second most at $1,828 annually.

Wallethub notes that insurance companies use a number of factors to determine premium costs, including age of the driver, driving record, credit, and the number of miles driven annually.

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