Wyoming Commercial Auto Insurance: Quotes From $25/mo

Did you know that Wyoming car crashes affected over 27,000 people in 2021? Car accidents represent a unique risk to your business because they are common enough that many companies must deal with them. 

Commercial auto insurance Wyoming will protect your business against inevitable costs from car accidents. This article will examine what commercial auto insurance covers and explore topics you want to know about, like recommended companies, requirements, and common questions.

What is the Purpose of Commercial Auto Insurance?

Commercial auto insurance protects your business against liability claims and damage to property and vehicles. As the name implies, commercial auto insurance applies to business uses of your vehicle. This differs from personal auto insurance because personal policies will not typically cover work activities.

With commercial auto insurance, your business can insure vehicles that they use to transport clients, materials, tools, and equipment during business. Commercial auto insurance can cover employees who use your business-own vehicles for work-related errands or other activities. A commercial auto policy can cover a single vehicle or a fleet of vehicles.


Why is a Commercial Auto Insurance Policy Important for My Wyoming Business?

Commercial auto insurance is vital because Wyoming has insurance requirements for automobiles driven on the road. To comply with state laws, you must purchase commercial auto insurance when using your work vehicles.

Commercial auto insurance is essential for a healthy business. People can sue you if you cause financial harm to someone or their property. Depending on the extent of the damage, you can be sued for tens of thousands of dollars. The cost to hire a lawyer and appear in court is also costly.


Accident Statistics in Wyoming

Below is a chart of the auto accident statistics in Wyoming, which speaks to how important it is to make sure your business is protected. This data comes from the Wyoming Department of Transportation.

Wyoming Population Total Crashes Total People Involved Total Vehicles Involved Total People Injured Commercial Motor Vehicle crashes
579,483 13,885 27,367 21,170 3,374 1,597

The most common cause of critical vehicle crashes on the road in Wyoming is lane departures/ being run off the road.


What Affects the Cost of My Commercial Auto Insurance?

The cost of business vehicle insurance will vary for different reasons. Some of those reasons include:

  • The risk level of the business’s industry

  • Your claim insurance claim history

  • The driving history of your employees

  • How many vehicles you need insured

  • The types of vehicles insured

  • The value of your business vehicles

  • Any deductible you have

  • The coverage limits of your policy

What are the Penalties for Not Carrying Auto Insurance for My Business Vehicles?

The state of Wyoming can impose harsh penalties for businesses that do not carry proper insurance for their vehicles. These penalties can include the following:

  • A $750 fine

  • Suspension of your vehicle’s registration

  • A suspension of your driving license

  • Up to six months in jail

These penalties will apply to subsequent offenses as well. You may pay up to a $1,500  fine for another offense and forfeit your license plates.

Compare Cheap Commercial Auto Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Components of Commercial Auto Insurance

Your commercial auto insurance policy will have a variety of different aspects that they will cover. Not every part of a commercial auto insurance policy is mandatory. You may enhance your coverage based on your business needs with add-ons. Below are the common categories for Wyoming commercial auto insurance policies.


Collision

Collision coverage will protect your business vehicles during road accidents. You will receive a payout when your vehicle suffers damage from colliding with another object on the road. This policy does not just cover multiple vehicle accidents. You can also get coverage for some types of single-vehicle accidents. Collision will cover instances where you strike another vehicle and road objects like signs and streetlights. You can also get coverage for your car overturning due to road conditions.


Comprehensive

Your comprehensive coverage is the other form of physical protection. This policy will cover damaging events resulting from causes other than road collisions. Some examples of events covered include:

  • Fire

  • Theft

  • Water

  • Vandalism

  • Falling objects

Auto Liability

Auto liability is the primary liability protection for your business vehicle. It will help pay for the costs of property damage and bodily injuries your business vehicle causes to others. The policy applies in the case of damage to private persons and businesses. This policy will also cover damage to government-owned property like buildings, street lights, traffic lights, and road signs.


Roadside Services

This policy will cover events where your vehicle needs assistance at the side of the road. It can cover the costs of towing a disabled vehicle, changing a tire, or jumpstarting a battery.


Medical Payments

Medical payment coverage helps passengers and drivers in your business vehicles pay medical costs. The good thing about this coverage is that it pays out no matter who is ultimately at fault in the accident.


Uninsured/Underinsured Motorist

These policies will cover incidents where another motorist’s lack of insurance causes a coverage gap. For example, a motorist may not have insurance and cannot pay for damages that they cause to your business vehicle. In this case, an uninsured motorist policy will help you pay for the gap up to the policy’s limits.


Cargo Coverage

This insurance policy covers liabilities for lost or damaged cargo that your business takes responsibility for. It can cover common causes of cargo damage like fire and road collisions. Typically this coverage is meant for for-hire trucking businesses that use vehicles that include:

  • Dump trucks

  • Tractors

  • Trailers

  • Box trucks

  • Cement mixers

  • Flatbed trucks

  • Car haulers

  • Cargo vans

Gap Coverage

Gap coverage is a policy for vehicles that are financed. Your automobile insurance coverage will be based on the actual cash value of your vehicle. An insurance policy won’t cover the cost to replace the vehicle, only the actual cash value. Automobiles are subject to depreciation, meaning your vehicle will lose value over time.

This creates a situation where an accident payout may be less than you still owe on your total vehicle loan. In this case, gap coverage will help you compensate for the difference and pay off your vehicle.


Wyoming Auto Insurance Requirements

Your Wyoming auto insurance policy must meet specific requirements and coverage limits to satisfy Wyoming state laws. Insurers must provide policies that meet minimum limits and offer certain types of coverage. Below is a list of these requirements.


Auto Liability

Wyoming requires a minimum liability of 210/100/20. This is what is referred to as a split limit. Split limits detail the individual coverage amounts you need for certain types of liability. See the chart below for the coverage amount required.

Bodily injury per person $25,000
Bodily injury per accident $50,000
Property damage per accident $20,000

Keep in mind that these numbers are the minimum coverage required. Insurers will often offer higher limits for individual policies. Also, certain types of vehicles require higher limits than these. 


Cargo Insurance

Cargo insurance coverage will require common and contract motor carriers to carry $10,000 of cargo insurance. An exemption to this rule is any carriers transporting commodities that do not ordinarily require cargo insurance.

Is Personal Injury Protection Required in Wyoming?

No. Wyoming does not require personal injury protection (PIP). PIP is also sometimes called no-fault insurance. This policy covers medical expenses, funeral costs, and lost wages caused by vehicle accidents.

Personal injury protection will provide coverage no matter who is found at fault. It will help with medical expenses for you and injured passengers, even if you are not driving. If the parties named on your policy get hit by a car, they will still get coverage.


Exclusions for Commercial Auto Coverage

Commercial auto insurance will cover many instances of damage and liabilities. However, it will not cover every incident you might experience. Commons incidents that are commonly excluded include:

  • Intentional damage to your vehicle

  • Terrorism and war

  • Catastrophic weather events like tornados, hurricanes, and earthquakes

  • Pollutants that you transport

  • Racing events

  • Employee dishonesty

Can I Use a Personal Vehicle For Work-related Activities?

No. A personal vehicle will not be covered when it is used for work-related activities. By default, personal auto insurance policies will not cover using them for your business. The only exception to this rule is for commuting to and from work.

Rank and Review Insurance Companies

Help others make better decisions

Show more

Cost of Wyoming Commercial Auto Insurance

Your Wyoming commercial auto policy is $40 per month or $480 per year. Here’s a table showing the cost of a commercial auto policy from the best insurance companies. 

Company Cost per Month Cost per Year Best for
Next $25 $300 Best overall; Fastest Wyoming commercial auto insurance
The Hartford $30 $360 Commercial auto customer satisfaction
CoverWallet $27 $324 Comparing quotes online 
Tivly $31 $372 Comparing quotes over the phone g
Thimble $32 $384 Getting a commercial auto insurance policy quickly
Hiscox $36 $432 Customizable commercial auto insurance

Compare Cheap Commercial Auto Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Wyoming Commercial Auto Insurance Companies

Below is a list of insurance companies that can offer competitive commercial auto policy options. Each company comes with advantages and disadvantages for your Wyoming business.


NEXT Insurance

Pros 

  • Get your online certificate instantly

  • Transparent pricing for your insurance policy

  • Offers rental reimbursement for commercial auto

Cons

  • None found

NEXT offers excellent commercial auto insurance for Wyoming businesses. These policies will save you money and get you covered quickly. NEXT has an A- rating from AM Best for its strong financial backing. This means you can trust NEXT to have your back when it comes time to file a claim.

Best for: Best overall; Fastest Wyoming commercial auto insurance

Average cost: $25 per month 

Our rating: 10/10


The Hartford Insurance

Pros

  • Better Business Bureau rating of A+

  • An experienced insurer that has local agents

  • Offers hired and non-owned auto insurance

Cons

  • Some policies are not the cheapest.

The Hartford is an insurance provider with over 200 years of industry experience. They were rated #1 in customer satisfaction by J.D. Power in 2022. This company also has an excellent score from AM Best for its financial security. Overall with The Hartford, you get a pleasant buying experience that customers highly review.

Best for: Commercial auto customer satisfaction

Average cost: $30 per month

Our rating: 10/10 


CoverWallet Insurance

Pros

  • Wide amount of coverage options

  • Lets you manage quotes without being committed to buying a policy

  • Quickly get quotes for commercial auto insurance

Cons

  • Is not an insurance provider

CoverWallet acts as your digital wallet for insurance policies. With their platform, you can access over 10 top insurance brand names that offer excellent policies to suit your business needs. They have an A+ rating from the Better Business Bureau.

Best for: Comparing quotes online 

Average cost: $27 per month 

Our rating: 10/10


Tivly Insurance

Pros

  • Solution-oriented insurance approach

  • Boasts a 4-second phone answer rate for customer service

  • Offers Gap insurance for commercial auto through partners

Cons

  • Doesn’t write the insurance policies

Tivly offers a massive digital insurance platform with over 200 providers. With Tivly, you get a wide variety of policies and insurance options that are hard to beat. The company has over 20 years of industry experience and an A rating from the Better Business Bureau. Call now to compare quotes over the phone. 

Best for: Comparing quotes over the phone 

Average cost: $31 per month 

Our rating: 10/10


Thimble Insurance

Pros

  • A fast-growing insurer that represents over $150 billion in coverage

  • Excellent mobile app to make policy management simple

  • Keeps insurance simple and accessible to inexperienced customers

Cons

  • Fewer policy options than other insurers

Thimble is an insurance broker that launched in 2016. They offer convenient ways to track your policies, like their mobile app. One of their biggest strengths is the ability to set the duration of your insurance down to the month, day, and hour. This flexible approach to insurance can be a massive benefit to your Wyoming business.

Best for: Getting a commercial auto insurance policy quickly

Average cost: $32 per month 

Our rating: 10/10 


Hiscox Insurance

Pros

  • 5% discount when bundling additional insurance policies

  • Fast claim responses

  • Coverage for owned, rented, hired, and employee vehicles.

Cons

  • Some customers report customer service wait times can be long during peak hours.

Hiscox is a multinational insurance company that operates in 14 countries. They offer a tailored insurance buying process made easier thanks to knowledgeable and passionate insurance agents. The company has an A rating from AM Best and serves over 500,000 customers.

Best for: Customizable commercial auto insurance

Average cost: $36 per month 

Our rating: 10/10 

Recent Reviews

Recent Posts


Additional Business Insurance posts