Gap Insurance in Arkansas (2026)
Gap insurance is an optional coverage that can provide added financial protection if you total your car or someone steals it.
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Gap insurance — also known as guaranteed asset protection — can help protect your finances if you total your leased or financed car or if someone steals it. After your insurance company declares your vehicle a total loss, it typically pays out its actual cash value — not the amount you owe on it.
Gap coverage helps pay the difference between the actual cash value (ACV) of the car and the remaining balance on your loan or lease, if there is one. The average monthly full-coverage car insurance cost is $154 in Arkansas. Adding gap coverage to your policy typically costs another $2 per month.
Here’s what you need to know about securing gap insurance in Arkansas.
Quick Facts
Gap insurance is optional in the state of Arkansas.
Arkansas drivers can purchase gap insurance from dealerships, insurance companies, lenders, and stand-alone providers.
Arkansas only requires drivers to maintain liability coverage.
How gap insurance works
Cars depreciate quickly. When you file a comprehensive or collision claim, the insurance company pays the vehicle’s ACV in the event of a total loss. But the compensation you receive may be less than what you owe on your car loan or lease.[1] In these situations, it’s up to you to make up the difference.
With gap insurance, the insurer covers the difference between the car’s value and what you owe. Without it, you’d have to keep making monthly payments on a vehicle you no longer own or pay off the loan or lease in a lump sum.
What gap insurance covers in Arkansas
Gap insurance policies can help prevent out-of-pocket expenses after a total loss or theft. They can also protect you from rolling negative equity into your next auto loan or lease.
Here’s an example of how gap insurance works.
Say you buy a car for $45,000. A year later, you’re in an accident and the insurance company declares it a total loss. The ACV of the vehicle is $37,000 at the time of the accident. But you still owe $41,000 on your auto loan.
In this case, your insurer would cut the lender a check for $37,000 — minus your deductible — under your collision coverage.[2] If you have gap insurance, it’ll cover the $4,000 you owe to the lender. If you don’t have gap coverage, you must pay the difference yourself.
Important Information
Gap insurance doesn’t cover vehicle repairs, mechanical issues, or injuries from an accident. It also doesn’t typically cover your comprehensive and collision deductible, although there may be exceptions.
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Rates average $154 per month for full-coverage policies
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Best gap insurance companies in Arkansas
Many auto insurers in Arkansas offer gap insurance that can help protect your finances if you’re upside down on your auto loan or lease. Here’s a list of the best car insurance companies in Arkansas that provide gap insurance.
State Farm
| User Reviews | 4.1 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 9.3 /10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $41/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $90/mo |
4.1
Best choiceBased on 17,132 verified driver reviews and ratings
State Farm's score | Industry average | |
|---|---|---|
| Coverage options | 4.0 | 3.2 |
| Customer service | 4.1 | 3.6 |
| Discounts | 3.7 | 2.9 |
| Policy transparency | 3.9 | 3.1 |
| Value | 3.7 | 2.9 |
How drivers feel about State Farm
Customers appreciate the insurer’s excellent customer service and personal attention but dislike the high prices and frequent rate increases. They also express frustration with the claims process.
Based on analysis of verified reviews collected by Insurify
Best For
Showing 15 reviews from Arkansas driversSee all 7,397 State Farm reviews
Verified Review
Reviewed in Arkansas on February 16, 2026
$200 is way too much for someone with a clean driving record.
Verified Review
Reviewed in Arkansas on January 28, 2026
Insured with State Farm for 50 years, and they sell what makes them the most. The price is too high.
Verified Review
Reviewed in Arkansas on January 11, 2026
I have not had to make a claim yet, but in the three years we have lived in Arkansas, our car insurance has been terribly high. We also have homeowners insurance. It has gone up so high that we are reaching the point of having it pulled way back to about nothing. I have a really hard time believing that both of these are appropriate. I have seen our insurer's new office. It is ridiculously fancy. While we struggle out here, the prices just keep going up. It greatly saddens me that they are this way.
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
647NAIC Index
Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.
0.84A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A++Why we picked this company
State Farm tops our list of the best insurance companies in Arkansas. State Farm’s Payoff Protector product covers the difference between the ACV of your vehicle and your loan balance if you total your car or someone steals it. But it’s only available on loans State Farm Bank originates, and your loan must be in good standing to qualify for a payout under the policy.
Pros
High rates of customer satisfaction
Rideshare insurance available
Cons
Payoff Protector product is only available for loans through State Farm
May not be the cheapest choice for drivers with violations
USAA
| User Reviews | 4.2 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 9.1 /10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $50/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $110/mo |
4.2
Best choiceBased on 3,426 verified driver reviews and ratings
USAA's score | Industry average | |
|---|---|---|
| Coverage options | 4.2 | 3.2 |
| Customer service | 4.1 | 3.6 |
| Discounts | 4.0 | 2.9 |
| Policy transparency | 4.2 | 3.1 |
| Value | 3.9 | 2.9 |
How drivers feel about USAA
Customers appreciate the insurer’s reliable customer service and claim handling but express concerns about high rates and frequent price increases. Some also find the insurer’s security protocols and communication methods frustrating.
Based on analysis of verified reviews collected by Insurify
Best For
Showing 6 reviews from Arkansas driversSee all 1,532 USAA reviews
Verified Review
Reviewed in Arkansas on March 22, 2026
Perfect but PRICEY!
Verified Review
Reviewed in Arkansas on March 3, 2026
Astronomical rates that keep rising on my 2016 car. Monthly premium rates are too high.
Verified Review
Reviewed in Arkansas on January 9, 2026
I have never filed a claim, but the rates just keep going up.
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
759NAIC Index
Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.
1.31A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A++Why we picked this company
USAA offers its members total loss protection with their auto insurance policy. If a covered incident results in a total loss of your vehicle, this coverage pays the difference between what you owe on your auto loan and what your car is worth at the time of the incident.
Allstate
| User Reviews | 4.2 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.9 /10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $91/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $201/mo |
4.2
Best choiceBased on 10,244 verified driver reviews and ratings
Allstate's score | Industry average | |
|---|---|---|
| Coverage options | 4.0 | 3.2 |
| Customer service | 4.0 | 3.6 |
| Discounts | 3.8 | 2.9 |
| Policy transparency | 3.9 | 3.1 |
| Value | 3.6 | 2.9 |
How drivers feel about Allstate
Drivers appreciate the friendly customer service and efficient claims processing, but many find the rates too high and experience unexpected price increases. Some also report poor communication from agents.
Based on analysis of verified reviews collected by Insurify
Best For
Showing 11 reviews from Arkansas driversSee all 4,384 Allstate reviews
Verified Review
Reviewed in Arkansas on March 8, 2026
Nothing wrong with Allstate. The cost is extremely high considering the coverage and age of the car. I am the only driver and I don't use it every day. I feel like we're being punished while driving. I drive for myself and others. Speed has nothing to do with driving fast and hitting the brakes hard. I hit my brakes to prevent running over drivers who pull in front of me or cut me off while changing lanes or stopping immediately in front of me. I speed to avoid being run over at times, depending on the circumstances. I have a hands-free phone.
Verified Review
Reviewed in Arkansas on February 5, 2026
I have been with Allstate for over 30 years and have not had a claim in over 20 years, but my rates have continued to increase.
Verified Review
Reviewed in Arkansas on February 3, 2026
Good customer service, very friendly staff. I got concerned when I changed vehicles; same coverage but the cost increased.
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
629NAIC Index
Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.
1.02A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A-Why we picked this company
Gap insurance from Allstate is available on new and used cars, but you must add it to your policy when you finance the purchase of your car. It’s available for all vehicles with loan terms of 96 months or less. Allstate gap insurance covers up to $1,000 of your comprehensive or collision deductible and up to $50,000 of your loan or lease balance after a total loss.
Pros
Well-established with superior ratings from AM Best
Pay-per-mile option available
Cons
Low customer satisfaction
Rates are merely average compared to other insurers
Data scientists at Insurify analyzed more than 40 million real-time auto insurance rates from our partner providers across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page.
The car insurance data includes coverage analysis and details on drivers’ vehicles, driving records, and demographic information. Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.
With these insights, Insurify is able to offer drivers insight into how companies price their car insurance premiums. The data included on this page represent averages across driver ages, genders, credit scores, and driver profiles for Arkansas drivers.
Gap insurance vs. full coverage
Full coverage includes a combination of liability, collision, and comprehensive coverages. It doesn’t include gap insurance.
Liability insurance covers your responsibility to others if you’re at fault in an accident.[3]
Comprehensive and collision coverages pay out the fair market value of the vehicle if a total loss or theft occurs. But full coverage doesn’t pay the difference if you owe more than your car is worth. Adding gap insurance provides an additional layer of protection if you have an auto loan or lease.
Who needs gap insurance in Arkansas?
Gap insurance is an optional coverage in Arkansas and isn’t necessary for every driver. But it may be a good idea if you:
Own a car that depreciates faster than average
Put little money down when you bought your vehicle
Have an extended loan term
Put more miles on your car than the average driver
These scenarios increase the likelihood that you’ll be underwater on your auto loan if your insurer declares your vehicle a total loss within your first few years of owning it. If you lease your vehicle, the leasing company will likely include gap insurance in your contract. But you don’t need to buy it to qualify for a car loan.
You don’t need gap coverage if you don’t have an auto loan or lease. If you made a large down payment when you purchased your car and don’t owe more than the vehicle is worth, you can probably skip this coverage.
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How to buy gap insurance in Arkansas
You can purchase gap insurance coverage whether you have a used or new car, as long as you meet the insurer’s requirements. You can purchase gap insurance at any of the following:
Car dealerships: You can buy coverage from the dealer when you purchase your vehicle.
Insurance companies: Many, but not all, traditional insurers offer gap insurance. You can usually add gap coverage to your existing auto insurance policy if you have comprehensive and collision coverages.
Lenders: Banks and credit unions may offer gap insurance as part of your loan agreement when you finance your vehicle.
Stand-alone gap providers: Some online companies offer gap coverage as a stand-alone product that you can purchase separately from your auto insurance company.
The cost of gap insurance can vary significantly, depending on where you buy it. Consider consulting an independent insurance agent or lender to compare quotes between plans for the best rate.
Recent Insurify quotes for Arkansas drivers
Drivers using Insurify have found quotes as cheap as $42/mo for liability only and $90/mo for full coverage in Arkansas.
*Quotes generated for Insurify users within the last 10 days. Last updated on April 16, 2026. Actual quotes may vary based on the policy buyer’s unique driver profile.
Rates shown are real-time Insurify user quotes from 500+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from April 16, 2026. Actual quotes may vary based on the policy buyer’s unique driver profile.
*Quotes generated for Insurify users within the last 10 days. Last updated on April 16, 2026. Actual quotes may vary based on the policy buyer’s unique driver profile.
Rates shown are real-time Insurify user quotes from 500+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from April 16, 2026. Actual quotes may vary based on the policy buyer’s unique driver profile.
Gap insurance in Arkansas FAQs
When you owe more than your car is worth, gap insurance can help minimize the financial impact of a total loss. But it’s important to understand how it works so there are no surprises later. Here are answers to some commonly asked questions about gap coverage.
Does Arkansas require gap insurance?
No. Gap insurance is optional in Arkansas. The only coverage Arkansas requires drivers to carry is liability. Arkansas drivers must maintain at least $25,000 per person and $50,000 per accident in bodily injury liability. The state also requires $25,000 per accident in property damage liability.[4]
What exactly does gap insurance cover?
Gap insurance covers the financial gap between your insurance payout for the value of your vehicle and what you owe on an auto loan after you total your car. It can also cover this difference if someone steals your leased or financed vehicle.
What are the cons of gap insurance?
You’ll have to pay a slightly higher car insurance rate, though the extra fee may be worth it if you total your financed or leased vehicle. The optional insurance doesn’t cover repairs for your vehicle or medical expenses following an accident, but your liability, comprehensive, and collision insurance should. An investment in more robust insurance coverage can help give you peace of mind.
Who should get gap insurance?
If you put little money down, opted for an extended loan term, drive more than average, or have a car that depreciates rapidly, you’re more likely to become upside down on your auto loan. Purchasing gap insurance may be a good option in these situations. The leasing company will likely require gap coverage if you lease your vehicle rather than buy. Arkansas law doesn’t require it, but you should read the fine print of your loan or lease contract to see if your lender requires you to purchase it.
Sources
- Insurance Information Institute. "Auto insurance basics—understanding your coverage."
- Insurance Information Institute. "What is gap insurance?."
- Insurance Information Institute. "Auto Insurance Basics."
- Arkansas Insurance Department. "Consumers FAQ."
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Written byJennifer Brozic
Jennifer Brozic
18+ years experience in finance writing
Background in communications for banks and credit unions
Featured in
Katie PowersLicensed P&C Agent, Senior Insurance Editor
Licensed auto and home insurance agent
4+ years experience in insurance and personal finance editing
NPN: 20564519
Featured in
David MarlettAdvisor