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Best homeowners insurance companies in  Arkansas for 2024

Updated May 01, 2024
Bankrate’s analysis shows that USAA, Travelers, State Farm, Encompass and Auto-Owners are some of the best home insurance companies in Arkansas.
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Compare the best homeowners insurance companies in Arkansas

Although your rate may vary from this, the average home insurance cost in Arkansas for $300,000 in dwelling coverage is $3,056 per year. Using rate data from Quadrant Information Services, we compared average rates from top companies with the state average. Looking at companies with competitive rates, we further narrowed our list by analyzing coverage options, discounts, digital tools, scores from the 2023 J.D. Power Home Insurance Study and AM Best financial strength ratings.

Insurance company J.D. Power Average monthly premium Average annual premium
881
/1,000
$168
$2,020
834
/1,000
$319
$3,825
829
/1,000
$226
$2,708
790
/1,000
N/A
N/A
Not rated
$263
$3,154
*Premiums are for $300K in dwelling coverage **USAA not officially ranked by J.D. Power due to eligibility restrictions

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Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Bankrate's trusted insurance industry expertise

Read our full methodology

The home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

The top 5 home insurance companies in Arkansas

Best for military-focused coverage options

USAA

4.7

Rating: 4.7 stars out of 5

Avg. premium for $300K dwelling

$168/mo

Avg. premium for $300K dwelling

$2,020/yr

Customer satisfaction

881/1,000

Best for unique endorsement options

Auto-Owners

4.6

Rating: 4.6 stars out of 5

Avg. premium for $300K dwelling

$319/mo

Avg. premium for $300K dwelling

$3,825/yr

Customer satisfaction

834/1,000

Best for local agents

State Farm

4.2

Rating: 4.2 stars out of 5

Avg. premium for $300K dwelling

$226/mo

Avg. premium for $300K dwelling

$2,708/yr

Customer satisfaction

829/1,000

Best for low average rates

Travelers

4.1

Rating: 4.1 stars out of 5

Avg. premium for $300K dwelling

Not available

Avg. premium for $300K dwelling

Not available

Customer satisfaction

790/1,000

Best for convenient coverage packages

Encompass

3.7

Rating: 3.7 stars out of 5

Avg. premium for $300K dwelling

$263/mo

Avg. premium for $300K dwelling

$3,154/yr

Customer satisfaction

Not rated

Additional Arkansas home insurance companies to consider

Arkansas Farm Bureau

Arkansas Farm Bureau

Who this may be best for

Homeowners who prefer working with local and experience agents

Farm Bureau has policy coverage that is tailored to each state and local agents to help with policy selection. They may be a good option for Arkansas homeowners who prefer working with agents who have experience with the perils of the South Central region. You may want to consider Arkansas Farm Bureau as an option due to their various discounts and bundling options.

To learn more, read Bankrate’s Farm Bureau insurance review.

Farmers

Farmers

Who this may be best for

Homeowners who need coverage beyond a standard policy

Farmers present policyholders with a wide variety of options with its Farmers Flex Personal Home Policies. These optional endorsements may make Famers a good option for homeowners who need coverage beyond what a standard home policy offers.

To learn more, read Bankrate’s Farmers home insurance review.

How Bankrate chose the best home insurance companies in Arkansas

Bankrate's insurance editorial team looked closely at Arkansas homeowners insurance companies to determine who was writing the best policies in the state. Multiple factors, including average cost, customer service ratings and breadth of coverage options were taken into account. Each company was then assigned a Bankrate Score ranging from 0-5. The higher that score, the more likely the company was to land on our list of best Arkansas homeowners insurance list.

Cheapest home insurance companies in Arkansas

Finding cheap home insurance companies in Arkansas can be challenging, especially due to the recent increase in extreme weather and the rising cost of building materials. Evaluating your coverage needs and shopping rates and options with other carriers may be a good way to find a rate that is easier on your budget. We compiled a list of the best cheapest home insurance companies in Arkansas using average rate data from Quadrant Information Services.

Carrier Monthly premium for $300k coverage Annual premium for $300k coverage Savings vs state avg. for $300k coverage
$168
$2,020
- $1,036
$205
$2,459
- $597
$226
$2,708
- $348
$232
$2,780
- $276
$263
$3,154
+ $98

How to get cheap Arkansas home insurance

If you're looking for the cheapest home insurance, there are steps you may be able to take to keep your home insurance cost down:

  1. Shop around and compare rates: Don't assume that the first quote you receive is the lowest possible price. It can be worth the extra time it takes to get multiple home insurance quotes because you may find a lower price from another carrier. Usually, it's simple and free to get a quote, and many insurers let you do so in minutes on their website.
  2. Improve your credit score: Your credit history is one of the factors that Arkansas insurers can use to determine your rate. Because actuarial data shows that homeowners with excellent credit tend to file fewer claims, they may receive a preferential rate.
  3. Maintain your roof: An old or damaged roof could potentially be the cause of a costly insurance claim. To avoid that, insurers will often reduce your rate if you have a newer roof, especially if you build it with storm-resistant materials. You could check with your insurer about roof-related savings opportunities.

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Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Best home insurance discounts in Arkansas

The best home insurance companies offer at least a handful of discounts for potential policy savings. Some common ones you might find include:

You may earn a discount if you incorporate smart home technology, such as smart thermostats and gas and water shutoff sensors, into your home.
Buying more than one insurance policy from a carrier may earn you a discount. The most common bundle is home and auto insurance.
Insurers may reward new or updated roofs with a discount.
Safety features like smoke alarms, burglar alarms and sprinkler systems may earn you a discount on your home insurance.

How to save on home insurance policy renewals in Arkansas

Most homeowners receive their policy renewals about 45 days before the renewal date. This is the perfect time to review your policy coverage, premium and discounts to ensure you are still happy with your selections and make adjustments if needed. If finding a cheaper policy is your main concern, here are a few ideas that may help you reduce your insurance cost:

  • Limit your claims: Submitting a claim usually increases your premium, and too many small claims in a short period may make your home seem "too risky" to insure in the future. Aim to use your home insurance only when the cost to repair your home is more than what you can reasonably afford.
  • Keep up with home maintenance: When homes fall into disrepair, they may not meet underwriting guidelines, which can cause companies to limit your coverage options or for claims to be denied. Keeping your home and roof in good condition can also reduce the likelihood of experiencing a loss.
  • Mitigate your risks: Arkansas has experienced an increase in tornadoes over the past few years. Awareness of your area's natural hazards and mitigating your risks can help you save money and protect your home. Safety measures, like installing hurricane shutters, may even help you earn a mitigation discount.
  • Inquire about discounts: If your renewal premium is more costly than ideal, speak with your insurance agents about discount opportunities. Bundling home insurance with your auto may be a way to save money without sacrificing coverage.
  • Shop your policy early: You can compare rates and change insurance providers at any time; you don’t have to wait until your renewal. Many insurance providers offer an early bird discount for shoppers who buy a policy days or weeks before the coverage is in effect.

How much is home insurance in Arkansas?

The average cost of homeowners insurance in Arkansas is $3,056 per year for $300,000 in dwelling coverage, which is 42 percent more than the national average of $2,153 for the same amount of dwelling coverage. Arkansas’ higher average premium may be partly due to the frequency of natural disasters that lead to insurance claims. Rates in this part of the country may vary greatly depending on factors such as the risk of tornado damage. This can be seen by looking at the average rates for neighboring states. Oklahoma homeowners pay an average of $4,493 for $300,000 in dwelling coverage, while Mississippi's average rate is lower at $2,820.

Arkansas homeowners insurance rates by city

Arkansas home insurance premiums can fluctuate by city and even within ZIP codes. Risk factors can vary significantly between crime rates, weather patterns, home rebuilding costs, and other rating factors directly impacting home insurance costs. To better understand the average Arkansas home insurance cost on a city level, take a look at the city-specific data below.

In addition to your personal rating factors, your homeowners insurance rates may vary within Arkansas based on where you live. Cities and even individual ZIP codes experience different crime rates and regional weather patterns, which may impact your premiums. Below are the five cheapest cities for homeowners insurance in Arkansas, based on average rates.

  • Cumberland: $1,804 per year — 8 percent below state average
  • Manville: $1,804 per year — 8 percent below state average
  • Lincoln: $1,805 per year — 8 percent below state average
  • Hope: $1,806 per year — 8 percent below state average
  • Woonsocket: $1,807 per year — 8 percent below state average

If you live in one of the cities below, you may pay higher-than-average rates for homeowners insurance. Based on average rates, these are the five most expensive cities for home insurance in Arkansas.

  • Block Island: $2,721 per year — 39 percent above state average
  • Ashaway: $2,676 per year — 36 percent above state average
  • Barrington: $2,599 per year — 33 percent above state average
  • Adamsville: $2,469 per year — 26 percent above state average
  • Little Compton: $2,463 per year — 26 percent above state average

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Arkansas?

HO-3 insurance policies are the most popular home insurance form type. Dwelling and other structures coverage is written on an open-peril basis, which covers every kind of peril that isn't specifically excluded from your policy. Personal property coverage, also known as contents coverage, is written on a named peril basis, meaning it is only covered from the perils listed in the policy. It is standard to have 16 named perils for personal property.

While most policy forms are standardized to provide consistency within the insurance industry, in areas prone to certain types of disasters, insurance providers can exclude or put limitations on perils to mitigate their risk. Below are a few of the most common types of damage covered by a standard HO-3 policy in Arkansas, but review your policy paperwork to learn the specifics regarding your policy.

  • Fire and lightning: Whether it is from a cooking debacle or a wildfire, damage from fire is usually covered by homeowners insurance in Arkansas.
  • Windstorms, hail and tornadoes: Since Arkansas experiences a higher amount of wind and tornado damage than other states, it is common for homeowners to have a separate wind deductible that is based on a percentage of their dwelling coverage. This will not be true of all policies. Some homeowners outside of the high-risk tornado area may have a standard flat deductible.
  • Weight of ice or snow: Arkansas gets its fair share of snow and damage from the weight of ice and snow is usually covered.

Additional home insurance coverage types in Arkansas

Even the best homeowners insurance in Arkansas may not automatically include all the coverage types you need. Endorsements are optional add-ons that may help you build a more robust policy. Common endorsements and standalone policies you might consider in Arkansas include:

  • Flood insurance: Most standard homeowners insurance policies do not include coverage for flood damage. If you live in a flood plain or in any area that is at risk of flooding, you may want to consider augmenting your coverage with a flood insurance policy. These are often underwritten by the National Flood Insurance Program (NFIP), but may be available from your regular carrier.
  • Scheduled personal property coverage: If you own items with an individual value of over $500, such as fine jewelry or electronics, you may not receive the item’s full value after a covered peril. Scheduled personal property may ensure the higher-value items’ replacement cost is accounted for in your policy.
  • Identity theft coverage: As more of our personal information lives online, identity theft is becoming more common. Identity theft coverage is designed to help cover the costs associated with restoring your identity after a breach.

Related content:

Common Arkansas home insurance problems

The overall impact of climate-induced extreme weather is Arkansas homeowner's biggest challenge. Arkansas saw 37 tornadoes in 2023 and several homeowners already experienced devastating damage from high winds in January of 2024. With Tornado Alley's eastward migration, insurance companies are reassessing their risk models to account for future catastrophic losses.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 
5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • Support 20%
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
Written by
Shannon Martin
Writer, Insurance

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Edited by Editor, Insurance
Reviewed by Expert Reviewer, CFA, CPA