Although home insurance is sometimes optional, it is something you should strongly consider. Arkansas residents are no strangers to natural catastrophes. Arkansas is close to the Gulf of Mexico, “Tornado Alley”, and can experience hurricanes and tornadoes every year. This can lead to costly claims and damages.
For this reason, the average premiums for homeowners insurance in Arkansas are above average. Arkansas homeowners insurance costs $2,142 annually for $250,000 of dwelling coverage. Although it may seem high, you might be able beat the average by selecting the best Arkansas homeowners insurance companies.
Arkansas’s best home insurance companies
You should compare the available options if you’re looking for Arkansas’ best homeowners insurance providers. Research is a great way to find the right home insurance at the best rate. Information provided by J.D. Based on the J.D. Power 2020 U.S. Property Claims Satisfaction Study, and our own methodology including 2021 rates from Quadrant Information Service, we chose four companies to be the best. We considered costs, coverage options, and professional ratings.
Auto-Owners
Auto-owners Insurance, one of the oldest state insurance providers, is among the most popular. It is available in 26 states and has nearly three million policyholders. Auto-Owners provides more than home insurance. Auto-Owners also offers life and car insurance, which makes it simple for policyholders bundle and save.
USAA
USAA is an excellent choice for homeowners insurance in Arkansas. USAA policies are designed to meet the needs of military life. Homeowners can feel confident that their home will be protected against any covered losses. USAA provides policyholders with a unique range of financial services, including banking capabilities, investment guidance, and insurance products. It consistently scores high in the J.D. USAA is technically ineligible due to its limited availability.
Farmers Insurance
Farmers are experts in large policy limits. This could be the right option for you if you own a substantial home that is rising in value. Farmers offers financial, auto, life, business and motorcycle insurances. Farmers has local branches throughout Arkansas with locally-knowledgeable agents ready to help.
Allstate
Allstate homeowners insurance is an affordable option for anyone looking for affordable coverage. This company offers many discounts. Bundling coverages can save customers up to 25% Allstate offers discounts on things such as hailproof roofs for homes, which are ideal for Arkansas’ extreme weather. Allstate offers insurance for auto, renters and motorcycles, as well as life, roadside, identity, and condo policies.
What is the cost of homeowners insurance in Arkansas
The average cost of homeowners insurance in Arkansas is $2,142 a year for $250,000 in dwelling coverage; this is above the national average of $1,312, likely due to the frequency of natural disasters that lead to insurance claims. Arkansas rates are higher than those in New Hampshire and Delaware, for instance, which have less national disasters. In Delaware, the average annual rate for 250k coverage is $680 and $724 in New Hampshire.
Arkansas home insurance
Every state is unique, so homeowners should look at each state individually when searching for the best homeowners coverage. Here are some common losses in Arkansas as well as additional coverages that you might want to consider.
Arkansas loss common causes
There are many reasons someone might file a Arkansas home insurance claim. It is important to ensure that your insurance company can adequately resolve any common claims in your state.
These are the most common reasons homeowners file claims in Arkansas
- EarthquakesArkansas is vulnerable to earthquakes because of its geographyNähe zur New Madrid seismic zone. You will not be covered for earthquakes by your homeowners insurance policy.
- Hail damage– Often associated with thunderstormsHurricaneActivity
- Wind damageArkansas is often hit by damaging winds from thunderstorms or hurricanes.
- Theft/or burglaryArkansas is statisticallyabove average in crime ratesProperty crime is committed by 1,000 people.
Arkansas offers a variety of home insurance options
It doesn’t have to be difficult to find the right Arkansas home insurance policy. These are the most popular types of insurance coverage recommended by Arkansas state factors.
- Hazard insurance:This coverage covers damage from natural disasters. This coverage includes dwelling coverage. It protects your home’s structure, such as the roof and walls, from damage caused by natural disasters like heavy rain or wind. Flood and earthquake coverage cannot be purchased automatically.
- Flood insuranceFlood damage is not covered by homeowners. Many end up paying the full cost out-of-pocket. Flood insurance can help reduce the chance of flooding-related losses.
- Scheduled personal propertyYou may not get the full value of items that have a total value exceeding $500. This includes fine jewelry and electronics. Scheduled personal property is a cost-effective option that adds high-value items to your policy. This will help you to repair or replace valuables.
Other coverage options are also available for your specific needs. For example, you can get optional coverage for structures not attached to your house, such as sheds, farm buildings, or fences. Additional coverage options include additional living expenses insurance, which will pay for your expenses while your home is being rebuilt.
Questions frequently asked
Which Arkansas insurance policy is the most affordable?
The cheapest homeowners insurance in Arkansas depends on a number of factors unique to you including the value of your home, where you live, your deductible and what type of discounts you can get.
What are the steps to get Arkansas homeowners insurance?
Finding out how much your Arkansas home is worth is the first step in getting Arkansas home insurance. Without this information, you won’t have the ability to get an insurance quote online. Your house likely had its value appraised when you bought it. You can then get an online quote from your insurance provider. You can also use the Department of Insurance Arkansas as a reference guide for any questions you have that are particular to the state.
What information do I need in order to get a quote on homeowners insurance?
Each insurance company will require different information to provide you with an accurate quote. Many companies will require personal information such as your date of birth and social security number. Contact information, marital status, current coverage, information about you job, details about any other residents living in your home.
