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Arkansas Homeowners Insurance Quotes - Best and Cheapest (2022)
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Last Updated February 25, 2022
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Arkansas Average Cost of Homeowners Insurance Rates (2022)
According to 2021 rates, the average cost of homeowners insurance in Arkansas is $1566 per year and $131 per month. Arkansas homeowners insurance rates are $168 per year morethen the national average and about 12% more annually. When compared to the other US states that makes the cost of homeowners insurance in Arkansas the 13th most expensive in the country, based on 2021 data.
For shoppers, the best way to find a homeowners insurance policy in Arkansas is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.
Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Arkansas in minutes.
| Arkansas Average Homeowners Insurance Rates | |
|---|---|
| Average Cost Per Month | $131 |
| Average Annual Premium | $1566 |
| State Rank (Most Expensive) | 13th |
Cheapest Insurance Companies for Homeowners in Arkansas (2022)
For homeowners in Arkansas, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Arkansas. The following are the best insurance rates from carriers that offer homeowners insurance in Arkansas.
| Cheapest Companies | Quotes |
|---|---|
| Travelers | $1,606 |
| Farmers | $2,080 |
| State Auto | $2,348 |
| Allstate | $2,484 |
| Encompass | $2,571 |
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How to Get Affordable Home Insurance in Arkansas
It’s easy for a young family just starting out to get wrapped up in the excitement of finding the perfect home to fulfill all their dreams of the future. While it’s exciting to find the home you’ve been dreaming of, it’s also a huge financial responsibility, probably one of the biggest ones you’ll ever take on. With so much of your family’s happiness relying on the security of owning a new home, it makes sense to protect your investment with the right homeowners insurance.
You don’t have to settle on what type of coverage you think you can afford. By shopping for homeowners insurance with Insurify , you can find all the protection you need for your home at a great price. Just tell us about your home and coverage preferences, and we’ll find you the best rate possible in just minutes!
You may be able to lower your home insurance rates even further by taking certain measures that qualify you to receive home insurance discounts. You can be eligible for a discount with most home insurers by installing protective devices like burglar alarms and sprinkler systems in the home or by choosing a higher deductible option. Most insurers also offer a bundling discount for combining your home and auto policy .
Homeowners Insurance Quotes in Arkansas by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2021, the average home insurance premium in Arkansas costs $4,133 annually, and the median home value is $128,500.
If you are like most families, you have developed a household budget for monthly bills. Home insurance isn’t cheap, so you want to find the best value possible. Every penny counts when you’re trying to save on expenses.
Average Annual Homeowners Insurance Premium in Arkansas by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Travelers$1,606
Farmers$2,080
State Auto$2,348
Allstate$2,484
Encompass$2,571
Nationwide$2,617
Farm Bureau Mutual$2,797
State Farm$3,767
Home Insurance Rates in Arkansas by City
Like property costs, home insurance varies in price from city to city. Pricing is determined on ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums.
Rates in Arkansas can be relatively high or low compared to the national average; it all depends on which town you live in. Here are the most and least expensive ZIP codes in Arkansas for home insurance.
| City | Median Home Price |
|---|---|
| Maumelle | $214,839 |
| Bella Vista | $192,214 |
| Hot Springs Village | $180,973 |
| Berryville | $129,999 |
| De Queen | $97,750 |
| Wynne | $84,378 |
What Does Home Insurance Cover in Arkansas?
There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance.
Provides coverage for a handful of potential problems including:
- Natural disasters (storms, fires, wind lightning, volcanic eruption)
- Explosions
- Theft
- Damage from vehicles
- Civil commotion
Broad form homeowners insurance policies include all basic form coverage, plus:
- Protection from falling objects
- Damage from the weight of ice, snow, or sleet
- Freezing of household systems including HVAC and pipes
- Sudden and accidental damage to pipes and other household systems from artificially generated electrical current
- Accidental discharge or overflow of water or steam
- HO-2 policies typically cover both dwelling protection and personal property.
- In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
- The most common form of homeowners insurance is known as a “special form” policy.
- While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
- HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
- Tenant’s form policies typically cover all the same dangers as HO-2 policies.
- Tenant’s form policies typically cover all the same dangers as HO-2 policies.
- These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
- Some HO-4 policies may also include loss of use coverage for the tenants.
- Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
- The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
- An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
- HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property such as jewelry and artwork.
- Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
- They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
- These policies also include personal property and liability coverage and may include loss of use coverage.
- If you own a mobile home or manufactured home, you likely have an HO-7 policy.
- Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
- Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
- HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
- Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
- HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
- Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Arkansas city level guides, check out these below.
Mobile Home Coverage in Arkansas
Most home insurers also offer mobile home insurance. A mobile home insurance policy is called an HO-7. Coverage for a mobile home is similar to an HO-3 special form home insurance policy. With a mobile home policy, you can receive protection for your home and belongings and also liability protection.
Liability protection will protect you against lawsuits if someone is injured at your home or if their personal property is damaged. It can also provide protection for any property damage or physical injury to others caused by pets you own. You can find the best rates for mobile home insurance in Arkansas and compare home insurance quotes with Insurify.
Flood Insurance in Arkansas
Streams and rivers in Arkansas can easily flood during spring because of strong storms common to the area. Arkansas homeowners should know that their home insurance policies do not cover flood damage. A separate flood insurance policy must be purchased. Flood insurance is provided through the federal government by the National Flood Insurance Program (NFIP). The NFIP has authorized agents to sell flood insurance on its behalf to protect homeowners from flood damage to homes and property. Use Insurify to find the best home insurance companies that also sell flood insurance.
Special Home Insurance Situations in Arkansas
Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Arkansas.
Cheapest Home Insurance for Houses Near Fire Department in Arkansas
If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.
| Insurance Company | Average Annual Premium |
|---|---|
| Encompass | $2,571 |
| Metropolitan | $4,955 |
| Nationwide | $2,616 |
| State Auto | $2,358 |
Cheapest Home Insurance for Houses Less Than 20 Years Old in Arkansas
The age of your home and its major systems may affect the policy rate you're quoted by insurance companies
| Insurance Company | Average Annual Premium |
|---|---|
| Farm Bureau Mutual | $2,405 |
| Farmers | $1,726 |
| Shelter | $3,780 |
| State Farm | $3,353 |
Arkansas is the only US state that produces diamonds. Find your gemstone of an insurance policiy with Insurify's help.
How to Find the Cheapest Home Insurance in Arkansas
Arkansas homeowners know the value of a dollar and work hard to provide for and protect their families. You can find cheap home insurance with all the quality coverage you need by using Insurify to compare rates.
Use Insurify to compare home insurance premiums for your property in Arkansas. Our comparison tools make homeowners insurance shopping (and saving) simple so you can be on your way to enjoying your newly insured home in no time.
Arkansas Homeowners Insurance FAQ
If you have ever had to leave your home and temporarily live in another location because of a natural disaster or another type of covered loss, you know additional living expenses can add up fast! Most homeowners or renters insurance policies allow you to add coverage for additional living expenses (ALE). This can ease your mind when times are stressful by paying for things like food costs, hotel bills, laundry expenses, and even the cost of boarding pets. The best way to find a homeowners insurance policy that offers coverage for additional living expenses is to use Insurify to compare rates.
Farm Bureau offers homeowners policies to Arkansas residents, with comprehensive coverage options for dwellings, structures, personal property, liability, and additional living expense (ALE) coverage. You can purchase optional endorsements (policy riders) to cover replacement cost, optional perils, and sewage backup coverage. Condo, townhouse, and renters insurance are also available. With Farm Bureau, you can save by taking advantage of the home insurance discounts available, including a new home discount, a companion policy discount (for insuring both your home and auto through Farm Bureau), an occupation discount (for full-time farmers or retirees over age 55), and theft/loss control discounts (for installing a burglar alarm system, first extinguishers, or other protective devices in your home).
When you’ve suffered a home loss, you want to get your claim paid as quickly as possible so you can begin to get your life back on track. The insurance company also wants to pay your claim as soon as possible. However, at a time of a natural disaster, the claims adjusters may be bombarded with claims, and it may take a little longer than expected before they can inspect the damage at your location. Insurance companies in Arkansas are required by law to acknowledge the receipt of your claim within 15 days.
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Methodology
The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.
Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.
With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.
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