Best and Cheapest Homeowners Insurance in Arkansas as Rated by Customers in 2022
You may never want to think about the chance that you may experience damage to your home and need to file a homeowners insurance claim. There are many things that may lead to you needing to file a claim, but having the right Arkansas home insurance company can put your mind at ease that if something were to happen, it would be handled.
To help you be more confident in your homeowners insurance company, we have reviews and rankings for hundreds of homeowners insurance companies so you can evaluate and compare the best Arkansas home insurance companies. In the table above, you can sort through every homeowners insurance company ranked on Clearsurance. Next to each insurer you’ll find the company’s rating, which is based exclusively on the reviews and ratings provided by customers. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the best Arkansas homeowners insurance rankings.
If you’re looking for additional information on one of the best homeowners insurance companies in Arkansas, you can visit the company’s profile page where you’ll learn about the company, additional coverage and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company.
On this page:
- Best homeowners insurance rates in Arkansas for a $200K dwelling
- Best homeowners insurance rates in Arkansas for a $400K dwelling
- Arkansas property crime statistics
- Arkansas disaster statistics
Even though home insurance may be optional, you should still consider it when owning a home. Homeowners in Arkansas may be prone to natural disasters because of its proximity to the Gulf of Mexico, and "Tornado Alley". The state experiences at least 20 tornadoes as well as hurricanes each year which means your home is likely to endure damage at some point. Typical homeowners insurance policies in Arkansas cover: windstorms, hail, light
The table below shows the average homeowners insurance rates in Arkansas for a $200K dwelling among the five largest home insurance companies in the state. Of these companies, Farm Bureau Mutual Insurance Company of Arkansas offers the cheapest home insurance rates in Arkansas on average.
|Company||Average rates for $200K dwelling|
|Farm Bureau Mutual Insurance Co. of Arkansas||$1,400|
|Shelter Mutual Insurance Company||$1,622|
|State Farm Insurance Company||$1,854|
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Arkansas will differ. Rate data is provided by Quadrant Information Services.
In the table below, you can compare the average homeowners insurance rates in Arkansas for the five largest companies in the state. Of these companies, Farm Bureau Mutual Insurance Company of Arkansas offers the cheapest home insurance rates for a $400K dwelling.
|Company||Average rates for $200K dwelling|
|Farm Bureau Mutual Insurance Co. of Arkansas||$2,215|
|Shelter Mutual Insurance Company||$3,017|
|State Farm Insurance Company||$2,930|
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Arkansas will differ. Rate data is provided by Quadrant Information Services.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Arkansas compare to other states around the country? The FBI published the following statistics on crime in Arkansas for 2016:
- Property crime - 97,673
- Burglary - 23,771
- Larceny theft - 66,747
All three statistics for Arkansas, when compared to the national average rate per 100,000 inhabitants, rank higher than the national average.
Weather-related incidents are typically among the costliest homeowners insurance claims. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here’s a look at the Arkansas federally declared disasters since 1953:
- Severe storm - 29
- Flood - 17
- Tornado - 15
- Severe ice storm - 6
- Hurricane - 2
- Snow - 1
How are homeowners insurance rates calculated in Arkansas?
Ever wonder why you pay what you do for your home insurance in Arkansas? Some things may be obvious, like the age of your home. But other factors that contribute to the price of homeowners insurance may not be as obvious. Here’s a list of some of the things homeowners insurance companies consider when quoting you a rate:
- The level of coverage required
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in Arkansas
- The condition of your home
- The age of your home
- The proximity of your home to a fire station
- Your previous claims record
- The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
Arkansas average cost of home insurance is expensive compared to states like Delaware and New Hampshire, due to the frequency of natural disasters. The most common causes of a homeowners insurance claim in Arkansas are: earthquakes, hail damage, wind damage, theft or vandalism of a property.
How does Clearsurance rate and rank the best homeowners insurance companies in Arkansas?
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Homeowners Insurance Guide
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best Arkansas homeowners insurance companies. But beyond just picking a company, it’s crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy?
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!
Frequently Asked Questions
What is the cheapest homeowners insurance in Arkansas?
The cost of homeowners insurance in Arkansas depends on a variety of factors including the value of your home, where you live (ZIP code), your deductible and the type of discounts you can get.
How to get homeowners insurance in Arkansas?
The first step of getting a homeowners insurance is to find out how much your home is worth, because you won't be able to get an online quote from insurance companies without that information. So if you purchased a home, it's likely that it was appraised at that time, so from that point you can receive a quote from an insurance provider.