For the state of Wyoming it is mandatory for all drivers own the proper liability insurance policy, minimum coverage required is of:

• $25,000 per one person to cover for injuries,
• $50,000 to pay for all occupants expenses, and
• $20,000 to pay for any damage caused to property.

Other ways to establish financial responsibility are to do a $25,000 deposit with the state treasure, or with a secure bond from a surety authorized company for this state.

It is required for drivers to carry with them proof of insurance at all times; insurance company will provide you with an Insurance ID card. Also the state might cross reference between your ID card and the list of insured vehicles in the state. Term to proof ownership of insurance is of 7 days.

Failure to comply with this requirement can represent fee payments from $250-$750 for first time offenders up to $500-$1500 for second time offenders. These fees may also come with prison time.

Liability insurance will pay for injuries and damage you may cause to other parties involved in the accident, with the right amount of coverage you can protect your assets from any financial complication that can derive from the event. However, Liability will not pay for your injuries or your property, this is why there are additional types of coverage available to compliment and widen the reach of your protection.

Insurance companies commonly suggest complimenting your liability insurance with Uninsured / Underinsured Motorist, Collision and Comprehensive. In some states PIP (Personal Injury Protection) can be added and might be considered as mandatory too.

Underinsured / Underinsured Motorist, this type of coverage is intended to provide you with aid in the event of an accident in which, you are not held responsible, but the driver whose fault was it, either has too little liability coverage (under insured) or has no liability insurance at all (uninsured). It will also cover you when the driver fleas the scene, leaving you in a "hit and run" situation.

Comprehensive coverage is used when the accident is caused by other than a moving vehicle. For example, a branch falling off a tree lands on your vehicle. Other type of accidents that comprehensive will cover are those caused by nature, like floods or wildfires. It will even pay for any reparations your vehicle may need after having an accident with wildlife crossing a road.

As stated on its name, collision coverage will pay for any physical damage resulting from a collision. It won't matter if the collision is with another moving vehicle or a non moving object, like a tree or a wall. It will provide even if you make your car flip over or run it into a ditch on the side of the road. It is highly recommended since a vehicle is exposed from the moment it is out of the garage.

Keep always in mind that Comprehensive and Collision coverage will never, under any circumstances, pay for any medical or legal expenses derived from the accident.