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Wyoming Car Insurance Rules and Regulations

All around the country, individual states have their own auto insurance laws on the books governing minimum requirements for coverage in each state. In the state of Wyoming, auto insurance is mandatory, with specific provisions in place for minimum levels of coverage we all must carry as motorists in state. These are, of course, only minimums and most insurance industry experts strongly recommend higher limits as well as additional areas of coverage in some cases. What follows is a rundown of the basic auto insurance requirements for drivers in the state of Wyoming, as well as some brief information on optional areas of protection that drivers can also include in their policies.

Required Coverage for WY Drivers

As mentioned previously, auto insurance in Wyoming is mandated by state law. Auto owners and drivers are expected to carry personal auto insurance policies protecting them in certain situations out on the road. Although there are several major areas of coverage available to drivers in the state, WY motorists are only required by law to purchase auto liability insurance. Liability insurance is a critical asset to have because if you run into an accident situation where you are held responsible, things can get very costly very quickly. The rise in the costs of both medical care and auto purchases and repairs have each contributed to an overall rise in liability expenses on a per accident basis, making quality insurance even more important as time goes by.

For state drivers, auto liability protection comes in the form of split limit liability policies. These policies are subdivided into three sections, each of which deals with a specific loss type and the financial expense of dealing with that loss. The three parts of a Wyoming split liability auto insurance plan are bodily injury per victim, bodily injury per accident, and property damage per accident. The state mandates at least a 25/50/20 policy for its motorists, with each number expressing in thousands of dollars the minimum acceptable amounts of coverage drivers can carry for each of these three parts of a liability auto plan. The minimum for bodily injury is $25,000 for a single victim and $50,000 per accident for multiple victims; and the limit for personal property damage is $20,000 per accident [1].

These minimums are often not sufficient to cover all of the costs associated with responding to liability claims in the wake of an auto accident. For this reason, industry experts recommend much higher limits for insured drivers in Wyoming and all across the country. But any decision to increase coverage beyond the minimum is up to the individual driver. The extra protection must be weighed against the higher premium cost. Achieving a balance between cost and coverage is a key.

Additional Policy Options for Motorists

Aside from auto liability coverage, drivers in Wyoming have many options on additional elements they can bring into their policies if they so choose. Uninsured and underinsured motorist protection are often recommended by agents because they provide the coverage claimants would otherwise recover in liability claims against uninsured drivers or motorists whose insurance was inadequate to meet all costs handed down in these cases. This protection just helps to make sure your losses are covered in these accidents without you having to pay for them out of pocket or go to court in civil case with unpredictable results to try to recover monies.

Medical payments coverage (MPC) pays for reasonable expenses incurred by the driver or passengers in an accident regardless of fault in the collision. Different companies may offer slightly different variants of this protection with different specific guidelines or coverage amounts. Check into the necessity of MPC if you already have health insurance. There may be some overlap to these two policies, depending on what is covered and excluded from your health plan.

Comprehensive and collision are very popular optional choices. Sometimes drivers are compelled to carry collision and comprehensive, like when they have an auto loan or are driving a lease vehicle. Generally financial institutions with a monetary stake in a vehicle want it insured against property loss as long as their investment in the vehicle still has not been fully repaid.

Save Your Family from Losses

Drivers who have the financial capacity to carry more than the requisite level of Wyoming auto insurance protection are certainly urged to do so. For just a relatively small additional investment, you can increase your protection and save your family from substantial uncompensated losses in the event of an accident or other claim event. Auto owners in Wyoming should take the time to get online and check out the market for car insurance. Looking around for some competing quotes can lead to some big savings off of your premium.

[1] Retrieved 2010-05-01.



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