Wyoming Car Insurance Laws
Financial responsibility is important for vehicle owners in the Equality State because it ensures that drivers can pay for injuries or property damaged caused in an at-fault accident. To ensure that resident motorists remain responsible, drivers must first be able to prove that they are adequately insured by a company licensed to sell coverage within the state. Although many drivers are capable of purchasing a bond, or making a Certificate of Deposit of money or securities to the State Treasurer in the amount of $25,000, most residents simply choose to purchase an automobile protection plan. However, when a motorist buys the policy must include liability coverage with specific limits.
All Wyoming auto insurance policies purchased within the state must include bodily injury liability with a minimum limit of $25,000 for a single person involved in an accident, $50,000 for bodily injury or death of two people or more in a single accident, and $20,000 for property damage liability. Drivers should know that these values only represent the minimum amount of coverage needed to legally drive, and that motorists are encouraged to consider not only improving upon these limits, but also obtaining additional coverage in order to pay for damages to one’s own person or automobile. By purchasing a more comprehensive policy a resident may be better prepared for more severe accidents.
In an effort to decrease the number of uninsured motorists within WY, an estimated 10% of drivers according to the Insurance Research Council, law enforcement officers are permitted to request that a motorist provide proof of insurance at any time. If a driver is unable to display evidence of being properly insured, the offending motorist typically has seven days to do so or face a fine of up to $750, a prison sentence of up to six months, or both. Such convictions are also likely to appear on one’s driving record, which may lead a motorist to be classified as a high risk driver and potentially experience steeper coverage costs as a result.
To examine one’s driving record residents are encouraged to contact the Wyoming Department of Transportation. Viewing these documents can help a motorist to spot possible mistakes and make corrections before attempting to locate coverage providers. Oftentimes, incidences listed on a driver’s record can have a big impact on premium prices. Events such as being at-fault for an accident, being convicted of a moving violation, or getting caught without an adequate amount of coverage are likely to remain on a motorist’s record for a period of three years and may have an adverse effect on rates.