Auto insurance. Wyoming.

   Wyoming law allows a law enforcement officer the right to request proof of insurance at any time. You do not have to be involved in an accident before you may be requested to provide proof of insurance. If the operator cannot show written proof of financial responsibility, the driver shall have seven (7) days to produce such proof. Any person who is convicted of violating this mandate may be fined not more than seven hundred fifty dollars ($750), imprisoned for not more than six (6) months, or both. Beginning January 1, 1993, no motor vehicle shall be registered unless the applicant verifies the motor vehicle is covered by a motor vehicle liability policy in full force and effect in the amounts of 25/50/20 or a bond on file with the Department of Transportation in amounts provided by Wyoming Statute 31-9-102(a)(xi).

Shopping for Auto Insurance

   You may purchase automobile insurance through agents and brokers, and sometimes through the mail.
   Agents and Brokers. Most people apply for auto insurance through an agent or broker. An agent may represent one company or many companies, while a broker represents you, the applicant.
   Choose your agent or broker carefully. One who is an established business person in your community with a good reputation is a wise choice.
   After selecting an agent or broker, do not hesitate to bring him or her your insurance problems and questions. Agents and brokers earn a commission on your business and should do more than just sell you a policy. They should advise you, answer your questions, and assist you with your insurance claims.
   Mail Order. This insurance is solicited through the mail. The prospective buyer mails the completed application directly to the company. Since the company usually does not have an agent in your home town, you probably will not receive the benefits of an agent's advice about your insurance problems and questions.
   Shop Around. How much you pay for insurance largely depends upon what kind of risk you are. Most companies will consider your driving records for the 36 months prior to your application in determining whether you qualify for their policies. Check all the information on your application for accuracy, and ask your agent or broker to go over all the facts concerning your driving record with you. A mistake may cost you money.
   Some companies write insurance for drivers with clear records, others write insurance for poorer drivers. Generally, the better your record, the lower your premium; however, other factors also affect your premium amount.
   The Wyoming Automobile Insurance Plan (sometimes called assigned risk) assures the availability of coverage for everyone. Under this plan, companies write policies for persons who are not insurable through the regular channels. The qualifications for the plan are: evidence that you have been declined or refused through the regular channels; full and honest completion of the application; a current driver's license; payment of premium; and satisfactory arrangements for payments owed on any previous auto insurance. For more information, any agent licensed to sell automobile insurance can assist you in preparation of the necessary application forms and advise you of the program.

   The Right Price. Although rates and premiums vary considerably among companies, they are set in similar ways. The more often accidents happen and the worse they are, the higher your premiums will be. Premiums must pay for accident claims, as well as for running the company and providing services. Office space, correspondence, salaries, legal fees, and customer service are included in your rates - along with payment of claims. And like any other business, beyond these overhead costs must be a profit.
   Information insurance companies gather from many sources shows that some types of drivers are more likely than others to have accidents. Factors that companies consider in deciding how much you should pay include your driving record, your age, the year and model of your car, whether you life in an urban or rural area, how many miles you drive, and whether the vehicle is used mostly for business or pleasure driving. How much coverage you buy affects what you pay, of course, but by careful shopping, you can save money.

How To Hold Premiums Down

1. MAINTAIN A GOOD DRIVING RECORD.
2. Compare the premiums of various companies which offer the type of coverage you want.
3. Check insurance costs before buying a new car. The type of car you drive affects your rates. Not every company will insure a high performance automobile, and those that do set high premiums. In general, insurance companies have had much higher losses on sporty cars than on family cars - four door sedans, wagons, or economy cars.
4. Consider increasing your collision and comprehensive deductibles. Insurance should be used to pay for large losses you cannot handle on your own. Many financial analysts recommend that deductibles should equal one week's salary.
5. If you own two or more cars and place all your auto insurance with one company, you are often eligible for a discount under a multi-car plan.
6. Several premium payment options are usually available, but paying your premium in one lump sum avoids the finance charges required by an extended payment plan.
7. If a driver leaves your household, or if you sell a car, notify your insurance company because it will probably lower your premium.
8. If you have had an accident in which you were at fault or several claims within the last three years, keep your present policy. You may not be eligible for coverage with another company. The major hazard in going to another company is that company's right to cancel your policy within the first 60 days of coverage.