Best and Cheapest Renters Insurance in Arkansas for 2024

The importance of renters insurance is often overlooked. While your landlord has an insurance policy to cover the building you’re renting, you’ll need a renters insurance policy in order to cover the personal belongings you bring into the apartment — your TV, furniture, and so on. Plus, liability issues also aren’t covered without a renters insurance policy.

So if you want to ensure you’re properly covered while renting, it’s important to find one of the best Arkansas renters insurance companies. But where do you start? In the table above, you can sort through all the renters insurance companies ranked on Clearsurance. The rating next to each company — the insurer’s Clearsurance score — is based exclusively on the thousands of ratings provided by customers. Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best Arkansas renters insurance rankings.

Interested in learning more about one of the companies on the list of the best renters insurance companies in Arkansas? You can visit the company’s profile page to find more information about the company and read reviews to learn from the experiences of other policyholders.

On this page:

• Arkansas renters insurance rates
• Average cost of renting in Little Rock
• Renters insurance for Arkansas college students
• Arkansas property crime statistics

Who offers the best Arkansas renters insurance rates?

Out of the most popular renters insurance companies in Arkansas, USAA, a company for military members and their families, offers the cheapest Arkansas renters insurance. For those who aren't eligible for USAA, Travelers Insurance is the next cheapest option for Arkansas renters insurance.

In Arkansas, your renters insurance not only depends on you and the value of your belongings, but also on the renters insurance company you pick. Some companies may offer renters insurance in Arkansas for a cheaper rate than others. In the table below, you can see average Arkansas renters insurance rates from some of the largest companies in the state.

*USAA is only available to former and active military members and their families.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. 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.

How much does rent cost in Little Rock?

In Little Rock, Arkansas, the average cost of rent is $773 per month. The cost of rent in Little Rock can vary based on the location and size of your apartment.

Little Rock is the capital city of Arkansas located along the Arkansas River. Luckily, the average cost of rent is fairly affordable compared to other cities across the nation. While the average cost of rent per month in Little Rock is $773, it can be cheaper than that in some areas. In fact, 67 percent of the apartments in Little Rock cost less than $700 per month to rent!

You may even be able to score an apartment for cheaper depending on the type of apartment you choose. Studio apartments in Little Rock have an average cost of $591 per month and one-bedroom units have an average cost of $678 per month. If you’re looking for a larger three-bedroom apartment, the average cost is $1,070 per month. If you choose to rent an apartment in Little Rock, you should look into renters insurance. You don’t want to be caught in a sticky situation of a disaster in your apartment without renters insurance.

Is renters insurance available for Arkansas college students?

Students attending college in Arkansas may decide to live in a dorm on campus or rent an apartment off campus. There are a few things for college students renting housing in Arkansas to consider in order to protect their personal belongings.

Typically, college students who live in dorms located on the college campus are covered by their parent's homeowners insurance policy. That’s usually only the case for students who live on campus, though. Arkansas college students who rent apartments off-campus should consider a renters insurance policy because their items won’t be covered under their parents’ policy, and without a renters insurance policy, they won’t have any protection.

College students will most likely have roommates in the apartment they rent. It’s not advised that students share renters insurance policies with roommates. Rather, each student should have their own renters insurance policy to protect their own belongings.

What do Arkansas property crime statistics indicate?

Theft and vandalism or malicious mischief are among the 16 perils a standard renters 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.

How to save money on your renters insurance in Arkansas?

While renters insurance may be more affordable than other types of insurance, no one wants to pay more than they have to. So what are the different ways that you can lower your Arkansas renters insurance premium and have some extra spending money?

Here are the top 5 ways to save on your renters insurance:

• Raise your deductible
• Ask about potential discounts on renters insurance
• Bundle your policies
• Determine the value of your personal property
• Pay in full by check

How does Clearsurance rate and rank the best renters 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:

• Price
• 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.

Renters Insurance Guide

As we mentioned above, there’s common misconceptions regarding what is and isn’t covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in Arkansas, it’s important to understand what your policy covers. For example, did you know that many renters insurance policies include liability coverage in the event a non-resident is injured on the property? Plus, if your apartment becomes uninhabitable from an incident, some policies may cover additional living expenses as you find temporary housing.

A renters policy may help you cover unexpected events such as theft, water backup damage and certain natural disasters. Even though renters insurance is not required by law, landlords might require you to purchase a policy to cover the property damage. In fact, it's a good idea to have reliable coverage to protect your personal property in case of fire, accident or burglary.

Renters insurance is relatively cheap, but its value is significant because it can replace your personal belongings and protect your guests in case of an accident. Moreover, if you want extra coverage for jewelry or other high-value items, you may get additional coverage on top of your renters coverage.

We want to make sure you’re equipped with proper knowledge of renters insurance coverage, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.