When it comes to finding the best car insurance in Arkansas, it’s essential to do your research and compare different options. To make this process easier for you, the MarketWatch Guides team conducted extensive research to determine the top five car insurance companies for Arkansas drivers. In this article, we will delve into the findings of our research, detailing each company’s coverage offerings, reputation, and overall customer experience. Additionally, we will explore the average annual car insurance rates in Arkansas, breaking down costs by carrier, age bracket, and city.
Key Takeaways:
Based on our research, State Farm emerges as the top choice for Arkansas drivers due to its range of coverage options, affordable rates, and solid reputation.
The average cost of full-coverage car insurance in Arkansas is $2,038 per year, slightly higher than the national average of $2,008 per year.
Arkansas mandates drivers to carry a minimum of $25,000 in bodily injury per person, $50,000 in bodily injury per accident, and $25,000 in property damage liability coverage.
Why You Can Trust The MarketWatch Guides Team:
The MarketWatch Guides Team is dedicated to providing reliable information to help you make informed decisions about insuring your vehicle. Our comprehensive rating system evaluates auto insurance providers based on various factors to determine the best companies. After 800 hours of research and analysis, we have compiled an overall rating for each provider, with the top-scoring insurers making it to our list.
What Is the Best Car Insurance in Arkansas?
The best car insurance companies for Arkansas drivers, according to our research, are State Farm, USAA, Auto-Owners Insurance, Southern Farm Bureau, and Shelter Insurance. These companies offer a range of coverage options, reliable protection, and strong financial backing for Arkansas drivers.
Compare Arkansas Auto Insurance:
To compare Arkansas auto insurance companies, we assessed carriers based on industry standing, availability, coverage, cost and discounts, and customer experience. Our research resulted in a ranking of the top five companies in Arkansas based on these criteria.
Best Car Insurance Companies in Arkansas:
1. State Farm: Best Customer Experience
– J.D. Power rating: 833/1,000
– AM Best financial strength rating: A++
– BBB rating: C-
Pros:
– A++ financial strength rating from AM Best
– Good discount opportunities for students and young drivers
– Usage-based insurance (UBI) discount
Coverage:
State Farm offers six standard coverages for auto insurance, along with additional options like emergency road service coverage, rental car reimbursement, rideshare driver coverage, and travel expenses coverage.
Reputation:
With a long history in the insurance industry, State Farm has a solid reputation for providing reliable coverage. While it has a low BBB rating, it holds an A++ rating from AM Best and scored 833 out of 1,000 in the J.D. Power Auto Insurance Study.
2. USAA: Best for Military Members
– J.D. Power rating: 890/1,000
– AM Best financial strength rating: A++
– BBB rating: Not Rated
Pros:
– High performance on J.D. Power customer surveys
Coverage:
USAA offers insurance exclusively to active duty and retired military members and their families, with standard coverages and optional ones like car replacement assistance, rental reimbursement, rideshare gap protection coverage, roadside assistance, and SafePilot UBI program.
Reputation:
USAA has a strong financial strength rating from AM Best and a high customer service reputation. It scored 890 out of 1,000 in the J.D. Power Auto Insurance Study.
3. Auto-Owners Insurance: Best for Young Drivers
– J.D. Power rating: 829/1,000
– AM Best financial strength rating: A++
– BBB rating: A+
Pros:
– A range of insurance products
– Excellent financial health
Coverage:
Auto-Owners Insurance offers standard coverages and optional ones like additional expense, diminished value, loan/lease gap, rental auto gap, and road trouble service.
Reputation:
With a long history in the industry, Auto-Owners Insurance has excellent ratings from AM Best and the BBB. It ranked fourth in the J.D. Power Auto Insurance Study.
4. Southern Farm Bureau: Best Local Service
– J.D. Power rating: Not Rated
– AM Best financial strength rating: A
– BBB rating: A+
Pros:
– Local agents and personalized service
– Offers a deductible rewards program, DriveDown
Cons:
– Lower AM Best financial rating than other insurers
– No online quoting platform
Coverage:
Southern Farm Bureau offers standard coverages in Arkansas, along with optional ones like rental car coverage, roadside assistance, and towing. They also have a usage-based insurance program called DriveDown.
Reputation:
With over 70 years in business, Southern Farm Bureau has an A rating from AM Best and A+ rating from the BBB. While it may not have an online quoting platform, it provides personalized customer service.
5. Shelter Insurance: Best Regionally
– J.D. Power rating: 851/1,000
– AM Best financial strength rating: A
– BBB rating: A+
Pros:
– Personalized service from local agents
– Numerous coverage options
– Disability income coverage
Cons:
– No online quoting platform
Coverage:
Shelter Insurance offers basic policies and additional coverages like accidental death benefit, disability income coverage, gap insurance, loss of use coverage, new car replacement, roadside assistance, and temporary transportation coverage.
Reputation:
With a long history in the industry, Shelter Insurance has strong ratings from AM Best and the BBB. It scored 851 out of 1,000 in the J.D. Power Auto Insurance Study.
How To Find the Best Car Insurance in Arkansas:
To find the best car insurance in Arkansas, consider the following tips:
– Look for discounts offered by insurance companies.
– Sign up for a usage-based insurance program to potentially save on premiums.
– Maintain a clean driving record to qualify for discounts.
– Avoid lapses in your car insurance policy to prevent rate increases.
– Bundle your policies with the same provider for additional savings.
Check Arkansas Car Insurance Requirements:
Arkansas requires drivers to carry a minimum of $25,000 in bodily injury liability coverage per person, $50,000 in bodily injury liability coverage per accident, and $25,000 in property damage liability coverage. It’s essential to understand these requirements and choose the appropriate coverage for your needs.
Consider How Much Car Insurance Coverage You Need:
Beyond the state requirements, consider factors like lender requirements if you’re financing your vehicle, your financial situation, and the level of coverage you’re comfortable with. Determine whether you need minimum-coverage or full-coverage insurance based on your circumstances.
Shop Around:
Collect quotes from at least three insurance providers to compare coverages, discounts, and rates. Ensure you provide the same information for each quote to make accurate comparisons.
Average Cost of Car Insurance in Arkansas:
The average cost of minimum-coverage car insurance in Arkansas is $38 per month or $451 per year, while full coverage averages $170 per month or $2,038 per year. Rates may vary based on the insurance provider, age bracket, and city.
Arkansas Car Insurance Costs by Provider:
USAA offers the most affordable rates in Arkansas, with an average annual premium of $242 for minimum coverage and $1,239 for full coverage. State Farm is the next cheapest option, with an annual average of $293 for minimum coverage and $1,346 for full coverage.
Arkansas Car Insurance Costs by Age:
For drivers aged 16 to 25, Southern Farm Bureau offers the cheapest rates in Arkansas, while USAA is the most affordable option for drivers in other age brackets.
Arkansas Car Insurance Costs by City:
Car insurance rates vary by city in Arkansas, with Bella Vista offering the cheapest options and Little Rock being the most expensive city for car insurance.
Arkansas Car Insurance Discounts:
Take advantage of discounts offered by insurance companies to save money on your premiums. Common discounts include multi-policy, multi-auto, good student, distant student, safe driver, defensive driving, driver training, pay in full, automatic payments, and continuous insurance discounts.
Best Arkansas Car Insurance: The Bottom Line:
For the best car insurance in Arkansas, consider State Farm, USAA, Auto-Owners Insurance, Southern Farm Bureau, and Shelter Insurance. These companies offer reliable coverage, affordable rates, and a range of protection options for Arkansas drivers. When shopping for car insurance, compare quotes from multiple providers to find the best coverage for your needs at the best rate possible.
In conclusion, finding the best car insurance in Arkansas requires thorough research and comparison of different providers. By considering factors like coverage options, discounts, rates, and customer experience, you can make an informed decision about insuring your vehicle in the Natural State. Remember to review the minimum insurance requirements in Arkansas, assess your coverage needs, and shop around for quotes to find the best car insurance policy for you.