Cheapest car insurance in Arkansas for 2024

Bankrate’s insurance editorial team analyzed average rate data from Quadrant Information Services for insurance carriers in Arkansas to determine the average cost of car insurance in this state and identify companies with low average rates. In addition to price, our team also considered each insurance provider’s policy offerings, availability, customer service and financial stability. If you are shopping for the cheapest car insurance in Arkansas, you may want to get quotes from the following companies:

Key takeaways

• Cheapest company for minimum coverage: USAA
• Cheapest company for full coverage: USAA
• Cheapest company for drivers with prior incidents: USAA and Geico
• Cheapest company for young drivers: Southern Farm Bureau and Shelter

Like most states, Arkansas requires drivers to carry at least the state-mandated minimum amount of liability car insurance to drive legally. Liability coverage is what pays for damages and injuries to the other driver, their passengers, their vehicle and pedestrians if you were involved in an at-fault accident. Liability-only coverage does not pay for damage done to your vehicle or the medical payments for you and your passengers. 

While it may be tempting to purchase minimum coverage to lower your premium, most insurance experts recommend higher limits if you can afford them for more financial protection. However, each policyholder's financial situation and coverage needs vary. For example, if you have a leased or financed vehicle, your lender may require you carry higher liability limits and full coverage insurance.

Minimum coverage requirements for Arkansas drivers

Arkansas requires all drivers to carry at least a minimum amount of liability car insurance before they get behind the wheel. The average cost of minimum coverage in Arkansas is $437, and in the state of Arkansas, drivers must carry at least the following amount of minimum insurance coverage:

• Bodily injury liability coverage per person: $25,000
• Bodily injury liability coverage per accident: $50,000
• Property damage liability coverage per person: $25,000

Insurance companies in Arkansas are also required to offer drivers uninsured motorist coverage, underinsured motorist coverage and personal injury protection (PIP), but drivers have the option to reject this coverage in writing.

Full coverage, which includes liability plus comprehensive and collision coverage, provides coverage for damage to your own vehicle. The average cost of full coverage car insurance in Arkansas is $1,907 per year. 

Each insurance company rates driving activity differently depending on the type of carrier they are and the risk pool they are looking to insure. A company specializing in high-risk drivers may have a better rate for a driver with a speeding ticket than one that tailors its pricing to preferred drivers.

• Cheapest car insurance for drivers with a ticket: USAA
• Cheapest car insurance for drivers with an at-fault accident: Nationwide
• Cheapest car insurance for high-risk drivers: Southern Farm Bureau

Cheapest insurance companies for drivers in Arkansas with a speeding ticket: USAA

Even a single speeding ticket can impact your car insurance premium as most carriers will see you as riskier to insure. The car insurance companies outlined below offer cheap average auto insurance in Arkansas for drivers with a speeding ticket on their record.

Cheapest car insurance for drivers in Arkansas with an at-fault accident: Nationwide

Another factor that is likely to increase your premiums is being involved in an at-fault accident, as this can be an indicator of increased risk for insurance companies. Being found at fault for more than one accident can further impact your car insurance costs, and may lead your company to place you in the high-risk category. If you've had an at-fault accident, the companies listed below offer some of the cheapest average rates for drivers with a single at-fault accident on their records in Arkansas.

Cheapest car insurance in Arkansas for high-risk drivers: Southern Farm Bureau

If your insurer has determined that you are a high-risk driver, you may have a hard time finding or keeping an affordable car insurance policy in Arkansas. High-risk drivers are typically those with multiple infractions, tickets and convictions on their record, but the most serious high-risk infraction is usually a DUI. If you have a DUI conviction on your driving record, the following companies offer some of the cheapest average rates, but there is no guarantee that these companies will extend coverage to drivers with DUIs.

Young drivers typically experience some of the highest auto insurance premiums. Driving experience is gained over time, and young drivers are usually less adept than older drivers when learning to avoid accidents, adjust for sudden weather changes and make responsible decisions. Car insurance for young adults gets cheaper as they get older, but shopping around may be especially crucial when drivers are under the age of 25.

• Cheapest car insurance for insuring a teen driver: Southern Farm Bureau
• Cheapest car insurance for teens with a ticket: USAA
• Cheapest car insurance for teens with an at-fault accident: USAA
• Cheapest car insurance for young drivers with a DUI: USAA

Cheapest Arkansas car insurance for insuring a teen driver: Southern Farm Bureau

Teens have the highest accident rate of any age group, so carriers typically charge high premiums for teen drivers. If you're insuring a teen driver, you may want to look into savings opportunities for teens, such as driver training and student discounts.

Cheapest Arkansas car insurance for teens with a ticket: USAA

According to the Centers for Disease Control (CDC), 35 percent of male drivers and 18 percent of female drivers involved in fatal crashes were speeding at the time of the incident. Speeding is dangerous, and teens are more likely to engage in speeding than any other age group. Teens with a speeding ticket on their record may find lower rates with USAA. The rates below are for 18-year-old drivers with a single speeding ticket conviction on their record.

Cheapest Arkansas car insurance for teens with an at-fault accident: USAA

New drivers tend to have more car accidents that cause more damage and injury than experienced drivers. Statistically, teen drivers are less likely to consistently wear a seatbelt and more likely to engage in distracted driving than any other age group. Teens with accidents on their records may find low rates with USAA. The rates below are for 18-year-old drivers with a single at-fault accident on their record.

Cheapest Arkansas car insurance for young drivers with a DUI:  USAA 

NHTSA reported a 14 percent increase in drunk driving-related fatalities between 2020 and 2021. The most significant percentage of drunk drivers were males between the ages of 21 and 24. Carriers typically charge high rates for drivers with DUIs, and some carriers may not extend coverage to drivers with a DUI conviction on their record. The rates below are for 21-year-old drivers with a single DUI conviction.

It is often wise to review a company's available discounts before you purchase a policy. Discounts can be easy to qualify for and may play a large role in determining your premium. Almost every insurer has a few discounts, but some offer a list of a dozen or more. Here are a few of the more common ones:

• Young driver discounts: Young drivers in school may save by maintaining a "B" average or higher. College students living at least 100 miles away from home without a car may earn a discount as well. A few insurers offer discounts for young drivers who participate in defensive driving programs or classes. 
• Safe driver discounts: Insurers are increasingly relying on telematics programs to give them real-time data on a policyholders' driving skills. These programs track your driving and adjust your premium based on your demonstrated driving habits. 
• Vehicle-based discounts: If your car has safety features such as airbags and antilock brakes or anti-theft systems or devices, you may earn a discount on your rate. 
• Loyalty and bundling discounts: You may earn a discount for bundling your homeowner or renters insurance with your auto coverage or insuring more than one car with a single company. You may also save money if you've maintained coverage with a company for several years.
• Professional organization discounts: Some carriers will extend a discount to those who are teachers, nurses or first responders; others give discounts to members of the military or veterans. You may also earn a discount depending on your employer, or if you belong to certain alumni organizations.

Bankrate utilizes Quadrant Information Services to analyze the latest rates in April 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. Rates include the most recent approved rate increases filed by insurance companies and are weighted based on the population density in each geographic region so that policyholders can see the impact rates have in their areas. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2022 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.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Teens: Rates were determined by adding a 16-year-old teen to a 40-year-old married parent’s policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy. 

Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.