Affordable premiums and a variety of natural disasters coverage, such as tornadoes and hail, make Metropolitan Insurance our choice for top Homeowners Insurance in Arkansas. However, Encompass, Republic Underwriters, Auto-owners Insurance, and Allstate also deserve your attention.
What’s so great about these companies? And is there anything else you need to know about insuring your home in Arkansas? We talk about that and more below.
The 5 Best Homeowners Insurance Companies in Arkansas
|Metropolitan Insurance||Encompass||Republic Underwriters Insurance Co.||Auto-Owners Insurance||Allstate|
|AM Best Financial Strength Rating||A+||A+||A-||A++||A+|
|J.D. Power Overall Customer Satisfaction Score (Relevant region)||2/5||NA||NA||4/5||3/5|
|Online Quote Tool||✓||X||X||✓||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Arkansas
Though a variety of factors will affect your premium (such as home size, age, discounts, and location), the average cost for insurance in Arkansas is $1,373. This is more than the national average of $1,211, according to the Insurance Information Institute.
Arkansas is currently the 13th most expensive state for homeowners insurance.
Home Insurance Add-ons That Will Further Protect You
Arkansas is a dynamic place to live. Though the paramount of comfort and beauty, it does have a tendency to be rocked by natural disasters every few years. Not only is it subject to hurricanes because of its proximity to the Gulf of Mexico, but it also is affected by tornadoes, flooding, and the occasional earthquake.
You will definitely want to get flood insurance to protect your home. However, regardless of what provider you choose, you will need to purchase flood insurance through the National Flood Insurance Program.
In addition to flood insurance, whichever provider you choose should also offer the following types of coverage options:
- Tornado damage caused by wind
- Hurricane damage caused by wind
Earthquake coverage is a good idea, too and your agent should be able to give you more information about how to get this kind of protection.
Helpful Resources for Arkansas Homeowners
An important resource for Arkansans is the Arkansas Insurance Department. Here you will find important insurance updates, as well as how-to guides that may be beneficial to you as you hunt for the perfect provider.
To get homeowners insurance in Arkansas, you can do everything you need to do online and over the phone. It is unnecessary to go to an insurance provider’s brick-and-mortar shop to discuss a policy unless that is how you personally prefer to do business.
Just keep in mind that if you are about to close on the purchase of a home, you will be unable to finalize the transaction with your lender until you have insured the home. So you can’t take too much time rate shopping and talking to insurers one-on-one.
If you already have insurance but want to switch providers, you have the freedom to do so. All you need to do is contact your old provider and tell them what date you would like your last day of service to be (after you have found a new provider, of course). Then you will need to contact your lender and escrow account and inform them of the switch. The most important thing is that your lender does not see any gaps in coverage.
To determine the best home insurance companies in Arkansas, we first started with the largest providers in the state, and then further evaluated each company based on average premiums, available discounts, S&P ratings, as well as AM Best and J.D. Power grades. For any insurance company to be a viable option for homeowners, they must be financially sound and have solid customer feedback. Companies that have a low AM Best rating, are more likely to dispute claims, which often then leads to a lower J.D. Power rating.
Best Arkansas Homeowners Insurance Companies
- Identity theft protection for no additional cost
- Multiple packages to choose from so you only pay forwhat you need
- Policyholders need to call or email to file a claim
Metropolitan Insurance offers a wide range of homeowners insurance packages. This helps members save month to month because they’re not paying for unnecessary protection.
A downside to Metropolitan Insurance is that it’s lacking a robust online infrastructure. To file a claim, you need to either speak directly with an agent or email the company. The plus side to this is that you are always interacting with someone that knows about your situation. The downside is the whole process could be tedious for some people that prefer to do the convenience of doing the claims online.
- Bundle with auto insurance
- Multiple coverage add-on options
- Some past customers have had policy misconceptions
You can save money with Encompass if you bundle your auto insurance with your homeowners insurance. It also has a variety of coverage add-ons you can take advantage of to make your policy exactly what you need it to be.
Encompass has great reviews from multiple sources. If you zoom in on complaints online, a few customers have expressed some confusion and anger over what their policy covered. Encompass has good online resources for its customers, and someone is always available to answer your questions over the phone.
Republic Underwriters Insurance Company
- Multiple discounts for policyholders
- Bundle with auto insurance
- Online presence could be stronger
Republic offers multiple discounts for homeowners, which should help many people get their premiums down. You can also bundle it with an auto insurance policy to save even more.
Though Republic has a strong customer service department, it needs to beef up its online applications. If you’re looking for a company that has a variety of online resources for its policyholders, you may want to consider looking elsewhere.
- Wide variety of discounts for members
- Won multiple awards
- A variety of coverage options
- Policy changes must be run through a local agent
Auto-Owners scores so well with its policyholders that it has actually won awards for its claims services, and like many insurance companies, it offers multiple ways for its members to save on their premiums. It also has a slew of coverage options to choose from.
About the only con for Auto-Owners that it could be easier to make changes to your policy. At the moment, if you want to add or remove something, you need to speak with a local agent. That said, it has exceptional customer service, according to J.D. Power.
- Many coverage options
- Multiple discounts
- More expensive than many providers
Allstate truly does have an impressive amount of coverage options, as well as ways to save on your premium. If taken full advantage of, you really could save a good amount of money on your monthly bill.
The downside is that those discounts are needed. Though Allstate isn’t the most expensive insurance carrier on the market, it is not considered cheap either..
The Cheapest Homeowner Insurance Companies In Arkansas
|Homeowner Insurance Companies||Average Annual Premium|
|Republic Underwriters Insurance Company||$1,506|
|Garrison Prop. & Cas. Ins. Co.||$1,533|
|Farm Bureau Mut. Ins. Co||$1,721|
|Shelter Mutual Insurance Co.||$2,048|
|Average Across Credit Rating Tiers||$1,632|
Homeowner Insurance by Age of Home
|Age of Home||Average Annual Premium|
|Average Across Ages||$2,383|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary.
Top 3 Cheapest Homeowner Insurance Companies in Arkansas
- Metropolitan Insurance – $1,204
- USAA – $1,329
- Encompass – $1,483
Top 3 Most Expensive Homeowner Insurance Companies in Arkansas
- Farm Bureau Mut. Ins. Co. – $1,721
- Shelter Mutual Ins. Co – $2,048
- State Farm – $2,231
The cheapest insurance provider in Arkansas is currently Metropolitan Insurance, whereas the most expensive is State Farm. However, keep mind this is based on averages, and does not necessarily represent any quote you would receive. To get a personalized quote, you will need to contact the insurance companies directly.
Homeowners Insurance FAQ
No, it is not legally required. However, if you buy your house with a mortgage, your lender most likely will require you to get homeowners insurance.
Currently, the cheapest homeowners insurance provider in Arkansas is Metropolitan Insurance.
The cheapest providers in Arkansas as of this writing are Metropolitan Insurance, USAA, Encompass, and Republic Underwriters Ins. Co.