Auto Insurance in Arkansas
Arkansas’ auto insurance rates are on the low side — on average $1,455 per year, compared to the nationwide average of $1,669. That said, how much you’ll pay can vary a lot depending on your car, your coverage, and your address. Use our tool to find your best rates:
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Arkansas has a diverse geography that includes lowlands and highlands. It’s southern location contributes to the states warm summers. Temperatures often dip low enough during the winter to create snow and ice storms. Arkansas is also located in Tornado Alley. High winds, tornadoes, and thunderstorms can cause property damage during the spring and summer months.
Arkansas Minimum Liability
The minimum liability coverage required by Arkansas is $15,000 for bodily injury and $50,000 per accident. This falls short of the recommended minimum coverage of $50,000 for bodily injury and $100,000 per accident. This level of coverage is also known as 50/100 coverage.
Ideally, 100/300 is the level of liability coverage most drivers should look for when shopping for auto insurance. In 2013, the average auto liability claim for property damage was $3,231 and the average auto liability claim for bodily injury was $15,443. Given that these are averages, half of all automotive accidents included damages that were higher than this – some are much higher. The difference between your liability coverage and the damages caused by an accident will come right out of your pocket.
The best strategy for buying car insurance is to collect several quotes from different insurance companies. Since each one will treat your driver profile differently, you can sometimes find a hidden gem of a rate. The key is to be thorough and get several quotes to ensure you get the most coverage for the cheapest rate.
Cheapest Car Insurance in Arkansas
- $1,187State Farm
- $1,319Southern Farm Bureau
These companies are good options for anyone who just wants to save money on car insurance. By choosing one of these companies, you will save some money every month. Unfortunately, companies that offer cheap policies may not give you strong customer services. If customer service is not a priority, then one of these affordable policies may be the right choice for you.
Ease of claims reimbursement is one of the things you may give up when buying policies from the cheapest car insurance companies. Some people also find that dealing with low-cost national companies is less intimate than dealing with local companies.
Most Popular Companies by Marketshare
- State Farm
- Southern Farm Bureau
These auto insurance companies are the most popular options for residents of Arkansas. Popularity, however, does not necessarily mean that a company offers affordable prices on the coverage options you need. Some companies become popular by spending more money on advertising. It says very little about price and quality of service. Get quotes from several auto insurance companies to make sure you choose an option with the services, coverage, and prices that appeal to you.
Choosing the Best Car Insurance in Arkansas
When you’re looking for the best auto insurance company in Arkansas, a number of factors go into finding the right company. What you’re looking for is a car insurance company you would be willing to spend the rest of your life with. They must have excellent customer service, fair premiums, extensive coverage options, a reasonable claims process, and great discounts.
Top-rated car insurance companies also have a solid financial standing. Knowing the company will be around when you need to file a claim is important. Additionally, having real agents, not just automated systems, can make it easier for policyholders to settle claims.
Where is car insurance most affordable?
Little Rock stands out as the most expensive city for auto insurance in Arkansas.
Premiums in Fort Smith, which has the cheapest auto insurance rates in the state, are often $200 lower than those in Little Rock.
The difference between Little Rock and North Little Rock is not only their location along the banks of the Arkansas River, but also their average auto insurance rates. Living north of the river can add up to significant savings. However, people that live in the northwestern and northeastern parts of the state pay even lower premiums than those in the Little Rock metropolitan area.
Fayetteville Auto Insurance
With 87,000 residents, Fayetteville is the third-largest city in Arkansas and home to its largest university. Publications have called Fayetteville one of the best cities for business and one of the best cities for retirees. Fayetteville boasts the lowest average auto insurance rates in the state. Auto insurance premiums in Fayetteville are considerably cheaper than the state average. Prices are closely aligned with the national average.
Fort Smith Auto Insurance
Fort Smith was founded as a military post in the early 1800s. Since then, it has grown into a multicultural city with diverse neighborhoods, industries, and arts. While Fort Smith is the second-largest city in Arkansas, with a population of just over 87,000 people, it has the absolute lowest average insurance rates in the state. The city’s average auto insurance policy is close to the national average.
Jonesboro Auto Insurance
With 71,551 residents, Jonesboro has a relatively small population. As the home of Arkansas State University, this college town attracts students from all over the state. The area around the university has plenty of bus routes. Public transportation, however, is less reliable on the town’s outskirts. This makes it important for most people to purchase their own cars. Auto insurance premiums are practically identical to the state average. They are, however, significantly more expensive than the national average.
Little Rock Auto Insurance
The capital of Arkansas has the highest auto insurance rates of any city in the state. With 197,357 residents, it also has the state’s largest population. The county seat of Pulaski County, this city sits on the Arkansas River and is named after a small rock formation along its banks. Several corporations have headquarters in Little Rock. It is also known as the home of several colleges, including Philander Smith College and the University of Arkansas at Little Rock.
North Little Rock Auto Insurance
The north side of the Arkansas River is home to North Little Rock, formerly known as Argenta. North Little Rock has a population of just over 66,000, making it quite small in comparison to its southern neighbor. Residents of North Little Rock can expect to pay auto insurance premiums that are significantly lower than those in Little Rock. They are, however, slightly higher than the state’s average rate.
Pine Bluff Auto Insurance
During the Civil War, Union forces used Pine Bluff as a contraband camp where refugees and runaway slaves could seek protection. The town flourished, but the Great Depression created poverty that it could not overcome until the 1980s. Today, Pine Bluff has a population of 46,094 people. Auto insurance premiums in the area are slightly higher than the state average.
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