Wyoming Boasts Cheapest Car Insurance in U.S., Per Recent Survey

Given the fact that Wyoming repeatedly tops the list when it comes to the most dangerous states in which to drive, based on data from National Highway Traffic Safety Administration, it may be surprising to learn that it’s also the state with the cheapest car insurance.

According to a Feb. 10 survey by WalletHub, Wyoming is the least expensive state for basic car insurance, with a yearly premium around $274 for the required minimum.

Wyoming tops the list for cheapest state to buy car insurance, according to a 2021 WalletHub survey (graphic courtesy WalletHub)
Wyoming tops the list for cheapest state to buy car insurance, according to a 2021 WalletHub survey (graphic courtesy WalletHub)

The survey was based on data from state’s Department of Motor Vehicles (DMV) and Quadrant Information Services. Along with assessing driver profile categories, such as age, gender and driving record among others, the survey also considered minimum, standard and full liability coverage as well as deductibles.

Wyoming’s ranking was factored according to the state’s minimum required coverage, with full coverage costing 438% more on average, per survey findings. Likewise, 16-year-old drivers in Wyoming also face much higher rates, paying an average of more than 420% for car insurance than a 55-year-old driver. Drivers with DUIs also pay a more hefty rate, per the survey, at about 76% more than a Wyoming driver with a clean record.

Women pay 5% more than men on average when it comes to car insurance (graphic courtesy WalletHub)
Women pay 5% more than men on average when it comes to car insurance (graphic courtesy WalletHub)

Other states ranking high when it comes to cheap car insurance include South Dakota, Iowa, Vermont and North Dakota, which ranked second through fifth, respectively.

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Conversely, car insurance was most expensive in New Jersey, New York, and last-place Michigan, per the survey.

Michigan comes in last in 2021 WalletHub Cheapest States to Buy Car Insurance survey.
Graphic courtesy WalletHub

Gender and marital status also factor into the price of insurance with women paying roughly 5% more in car insurance than men, while married couples pay 3% less than their single counterparts.

The survey also listed the top five cheapest car insurance agencies as USAA, Grange Insurance, Geico, Safeco and State Farm.