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Best car insurance in Arkansas for 2023
When shopping for car insurance, Arkansas residents may want to understand the state-specific factors that could affect their coverage needs and how much they pay. The average cost of car insurance in Arkansas is $1,914 per year for full coverage, according to Bankrate’s 2021 study of quoted annual premiums.
Finding the best car insurance in Arkansas can require some research, but Bankrate’s team of insurance editors has done some of the work for you. We have reviewed the largest car insurance providers in Arkansas by market share through several lenses to help you find the coverage that fits your needs and budget.
Best car insurance companies in Arkansas
As we searched for the best auto insurance in Arkansas, we analyzed each company’s average premiums, which we obtained from Quadrant Information Services. We also took coverages, discounts, policy features and financial stability scores into consideration.
To simplify this information, we assigned each company a Bankrate Score. The scores are on a scale from 0.0 to 5.0. The closer to 5.0 a company’s Bankrate Score is, the more highly that company ranked in each of the scoring categories.
If you are looking for the best car insurance in Arkansas, you might want to start by getting quotes from the following companies:
|Car insurance company||Bankrate Score||Average annual full coverage premium||J.D. Power customer satisfaction score (Southeast region)|
*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions
Discover the best carrier for you
USAA frequently receives some of the highest scores from J.D. Power, although the carrier is not eligible for official ranking because it only sells coverage to active or retired military and their immediate family members. If you qualify, you may find a cheap car insurance policy with USAA; the company has the lowest average premium on our list. You might also save with military-focused discounts, like savings for garaging your vehicle on a military base or storing your vehicle if you are deployed.
Learn more: USAA Insurance review
Auto Owners may not be as well known as some of the other providers on our list — it is a regional carrier only available in 26 states — but the company boasts an impressive customer satisfaction score from J.D. Power as well as numerous coverage options that might allow you to customize your policy. You might be able to add new car replacement coverage, gap coverage and diminished value coverage. Although its average premium is a bit higher than Arkansas’ average, Auto-Owner also offers plenty of discounts.
Learn more: Auto-Owners Insurance review
If you like to handle your insurance digitally, Geico might be a good option. The company received the highest score in the J.D. Power 2021 U.S. Insurance Digital Experience Study in the Service category, meaning a majority of its clients are likely satisfied with the company’s digital service experience. Within Geico’s mobile app, you can file claims, call for roadside assistance, view ID cards and initial policy changes.
Learn more: Geico Insurance review
If you are looking for the cheapest car insurance in Arkansas but do not qualify for USAA, you might want to get a quote from State Farm. Along with above-average customer satisfaction scores, State Farm also offers excellent mobile tools to help you manage your policy. The company sells its coverage through a nationwide network of over 19,000 agents, so if you prefer to handle your insurance in person, State Farm could be a good choice.
Learn more: State Farm Insurance review
Allstate’s premium is the highest on our list, but the company offers a unique way of rewarding safe driving that might appeal to drivers. If you sign up for either one of Allstate’s driving programs, Drivewise or Milewise, you might save money on your auto insurance and earn points for safe driving. If you complete 10 trips with no hard brakes or rapid accelerations, for example, you earn 200 points. Points can be redeemed for gift cards, magazine subscriptions, sweepstakes, merchandise and more.
Learn more: Allstate Insurance review
Average cost of car insurance in Arkansas
The average cost of car insurance in Arkansas is $1,914 per year for full coverage. This is quite a bit higher than the national average annual cost of full coverage, which is $1,674. This could be due to the incidence of serious accidents in the state, including a high number of fatal accidents.
|Average annual premium for minimum coverage in Arkansas||Average annual premium for full coverage in Arkansas|
State minimum insurance requirements in Arkansas
Like most states, Arkansas requires drivers to purchase at least minimum levels of certain car insurance coverages. To drive legally in Arkansas, you must carry at least the following car insurance coverages and limits:
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $25,000 property damage to others
When you purchase insurance, companies are also legally required to offer you uninsured motorist coverage and personal injury protection (PIP) coverage, although you can decline these in writing.
Buying minimum car insurance limits often means you will pay some of the lowest rates. However, you also leave yourself open to more financial hardship if you are in an accident. If you cause an accident and damage someone’s vehicle, property or cause injuries, you will be responsible for paying any bills that exceed your insurance limits. Most insurance professionals recommend purchasing higher liability limits if you can afford to.
Minimum coverage also does not provide any coverage for damage to your own vehicle. For that, you need full coverage, which adds comprehensive and collision. Financial institutions generally require you to carry full coverage if you have a loan or lease on your vehicle.
How to get the best car insurance
There are many car insurance companies that offer coverage in Arkansas, and finding the company that is right for your needs can take some research. These are some things to consider before you choose a provider:
- Evaluate your needs: Understanding what you need from your insurance is an important first step. Households with teen drivers, for example, likely have different needs than households with retired drivers or drivers who work from home. Knowing what coverages, discounts and features are important to you can help you narrow down which companies to request quotes from.
- Consider state factors: In addition to your state’s minimum limits, there are other geographic factors that could impact your choice of coverage. For example, Arkansas is no stranger to tornadoes, with 41 reported twisters in 2020 alone. You might want to consider adding comprehensive coverage, which provides coverage for damage caused by weather events. It is also estimated that 19% of drivers in Arkansas are uninsured, making it one of the worst in the nation for uninsured drivers. It might be worth considering uninsured motorist coverage.
Car insurance discounts in Arkansas
Car insurance in Arkansas is not always the cheapest, but there are ways to save. Taking advantage of auto insurance discounts is one of the quickest and easiest ways to lower your premium. Although available discounts vary by company, some common discounts in Arkansas are:
- Multi-policy: Most companies that sell both home and auto insurance offer a multi-policy discount, which you qualify for by purchasing both types of policies through the same company. You will typically see a discount on both of your policies.
- Student discounts: Insuring teen drivers is not cheap, but discounts can go a long way toward keeping your premium within your budget. Savings opportunities often include good student discounts, discounts for students at college without a car and driver education discounts.
- Billing discounts: The way you pay your car insurance bill might provide ways to save. Paying in full, opting for automatic withdrawals and going paperless for your billing statements are common billing discounts.
- Driving program discounts: Many companies offer safe driving programs that monitor your driving habits with a plug-in device or a mobile app. If you are a safe driver, you might earn a discount on your car insurance.
Most insurance companies list their discounts online, but because discounts can vary by state, talking with a licensed agent is often the best way to identify ways to save.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Bankrate Scores primarily reflect a weighted rank of industry standard ratings for financial strength (AM Best, S&P, Moody’s) and customer experience (J.D. Power, NAIC), in addition to average quoted rates from Quadrant Information Services. The J.D. Power studies utilized include the 2020 Auto Insurance Study and the 2020 Auto Claims Study. Our Bankrate editorial team’s extensive research and analysis provided a secondary assessment of each insurer’s online and mobile resources and policy management options, which also contributed to overall ratings.