Insurance is a necessity for anyone with a motor vehicle. This coverage protects you against financial loss in the event of a collision or unexpected event. The price of your insurance depends on your driving history, the type of vehicle you drive, and your location, among other factors. However, a variety of car insurance providers offer excellent rates and options no matter your situation or background. Read on to explore the best car insurance in Arkansas so you can determine which one is the greatest choice for you.
Best Car Insurance in Arkansas for Minimum Coverage
According to ValuePenguin’s study based on insurance rate data from Quadrant Information Services, the cheapest auto insurance providers in Arkansas are Farm Bureau, Geico, and State Farm. This study is based on a sample driver who is a 30-year-old man driving a 2015 Honda Civic EX with average credit. Here’s a list of the cheapest providers, with the average annual rate for each:
- Farm Bureau: $361 per year
- Geico: $380 per year
- State Farm: $410 per year
- Progressive: $617 per year
- Farmers: $711 per year
- Allstate: $733 per year
- Shelter: $765 per year
- Nationwide: $765 per year
- USAA: $266 per year
It’s important to note that while USAA provides competitive rates, the only customers eligible for these rates are veterans or military members and their families. Also, remember that these rates apply only to minimum-coverage liability insurance plans. Although this type of policy is the cheapest option for Arkansas drivers, it only covers damage you might cause to other vehicles. Unlike full-coverage insurance, liability doesn’t protect your finances if there’s damage to your own car, which might leave you responsible for significant out-of-pocket expenses.
Best Car Insurance in Arkansas for Full Coverage
Investing in a full-coverage insurance policy is a great idea for those who drive a valuable or new vehicle because these types of policies can protect your finances if damage occurs to your car. Based on the same study mentioned above, Farm Bureau is the cheapest option for Arkansas drivers. Here are the companies that provide full coverage with the average annual rates for each:
- Farm Bureau: $1,216 per year
- State Farm: $1,258 per year
- Geico: $1,451 per year
- Shelter: $1,865 per year
- Farmers: $1,961 per year
- Nationwide: $2,100 per year
- Progressive: $2,105 per year
- Allstate: $2,490 per year
- USAA: $932 per year
Keep in mind that full coverage policies pay for repairs for your vehicle if you get in a collision. They also provide support if your vehicle is stolen. These policies can be especially beneficial if your car is worth more than the average amount.
Cheapest Car Insurance Rates by Category
Various factors may increase the risk of accident and thereby affect your insurance rates. For example, if a driver has a history of incidents like citations, violations, or accidents, their insurance policy may be more expensive. The aforementioned study also assessed rates for groups with varying ages, credit scores, accident histories, and marital statuses. Here are the cheapest car insurance providers in Arkansas by category:
Teen Drivers
Teen drivers are young and inexperienced and can therefore be more likely to get into a car accident. Because of this risk, teen drivers may have more expensive insurance rates. However, as they grow older, gain experience and maintain good driving records, their insurance rates can decrease. Here are the cheapest insurance providers for teen drivers in Arkansas:
- Farm Bureau: $2,332 per year
- State Farm: $3,686 per year
- Geico: $4,254 per year
- Shelter: $4,501 per year
- Farmers: $6,454 per year
- Nationwide: $7,632 per year
- Progressive: $9,069 per year
- Allstate: $9,267 per year
- USAA: $2,349 per year
Married Drivers
Married drivers may have less expensive insurance rates. This is because insurance providers often view married couples as more financially stable and less risky. Here are the cheapest car insurance options for married couples in Arkansas:
- Farm Bureau: $1,079 per year
- State Farm: $1,258 per year
- Geico: $1,380 per year
- Shelter: $1,444 per year
- Progressive: $1,644 per year
- Farmers: $1,746 per year
- Nationwide: $1,894 per year
- Allstate: $2,382 per year
- USAA: $835 per year
Poor Credit
Your credit history may affect your insurance rates because it can be an indicator of financial responsibility. Here are the average car insurance rates for those with poor credit in Arkansas:
- Geico: $1,874 per year
- Farm Bureau: $2,063 per year
- Nationwide: $2,537 per year
- Farmers: $2,752 per year
- Shelter: $2,876 per year
- Progressive: $3,186 per year
- Allstate: $3,440 per year
- State Farm: $5,072 per year
- USAA: $1,557 per year
After a Speeding Ticket
Drivers who have received a speeding ticket may be more prone to speeding and other dangerous driving practices. This means they may be more at risk for a crash than drivers with clean records. Explore these insurance options for drivers with a speeding ticket:
- Farm Bureau: $1,313 per year
- State Farm: $1,360 per year
- Geico: $1,451 per year
- Shelter: $2,251 per year
- Nationwide: $2,533 per year
- Farmers: $2,676 per year
- Progressive: $2,690 per year
- Allstate: $2,917 per year
- USAA: $1,109 per year
After an Accident
Drivers who’ve been in an accident may be more likely to get into another accident in the future. These drivers have the following choices for cheap insurance in Arkansas:
- State Farm: $1,461 per year
- Farm Bureau: $1,564 per year
- Farmers: $2,696 per year
- Geico: $2,958 per year
- Nationwide: $3,256 per year
- Shelter: $3,346 per year
- Progressive: $3,717 per year
- Allstate: $3,725 per year
- USAA: $1,310 per year
After a DUI
Getting a violation for driving under the influence (DUI) can increase your insurance rates. That’s because insurance providers may view you as more at risk for getting into accidents. Here are the cheapest rates for drivers with a DUI in Arkansas:
- Farm Bureau: $1,446 per year
- Progressive: $2,364 per year
- Farmers: $2,608 per year
- Allstate: $3,362 per year
- Shelter: 4,137 per year
- Nationwide: $4,157 per year
- Geico: $4,324 per year
- State Farm: $4,513 per year
- USAA: $1,780 per year
The insurance rates in this article may aid you in determining what you might pay for your own auto insurance. However, remember that your own quotes may be different based on your unique history and situation. You can discuss your needs with an insurance agent to take advantage of any applicable discounts and get the best deal for your purposes.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
