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Little Rock, AR Homeowners Insurance
Little Rock is Arkansas ’s capital and most populated city. Living in the Rock puts residents front and center in the Natural State’s historical movements and monuments. With nearly four dozen museums and cultural attractions throughout the city, well-known sites like Little Rock Central High School and the Clinton Library are only the tip of Little Rock ’s historical iceberg.
Whether you prefer Little Rock ’s history, its miles of bike and nature trails, or its classic Southern charm, it’s a great place to call home. With the city’s risk of hurricanes, tornadoes, and property crime, it’s a great place to make sure your home is protected, too.
Home insurance makes protecting your Arkansas property easy, and Insurify’s comparison tools make your insurance search even easier. Use Insurify to compare homeowners insurance companies and insurance options side by side and make sure you’re getting the best policy at the best rate.
Cheapest Home Insurance Companies in Little Rock
For homeowners in Little Rock, 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 Little Rock. The following are the best insurance rates from carriers that offer homeowners insurance in Little Rock.
|Cheapest Companies||Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
How to Find Cheap Home Insurance in Little Rock
The cost of living in Little Rock is roughly 18 percent lower than the national average, and it isn’t hard to find a great home for less than $150,000 in the city. No matter how affordable your home in Little Rock is, it’s important to protect your property from perils like tornadoes, floods, and earthquakes.
Home insurance is a great place to start.
An Arkansas homeowners insurance policy will protect your home, family, and personal belongings after natural disasters and theft and offers liability protection in case your dog bites a neighbor or someone slips on your front steps. A homeowners policy can even reimburse your family’s additional living expenses, like a hotel stay while your home is being repaired.
You can cater your insurance products to your needs, and you choose everything from your deductible to your additional coverages. Keep reading for a full guide on Little Rock home insurance to find out what your perfect insurance policy should include.
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Cheapest Home Insurance in Little Rock by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in Little Rock costs $4,133 annually, and the median home value is $159,967.
The average cost of Arkansas home insurance tends to be higher than the national average because of the state’s propensity for storms. Comparing insurance quotes with multiple home insurance companies can help you avoid costly premiums and make sure you’re getting the best customer service and discount options (like home and auto insurance bundling ).
Check out the average cost of Little Rock home insurance with insurance providers like Allstate, USAA, and Arkansas Farm Bureau below.
|Average Home Cost in Little Rock The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.||Average Annual Insurance Premium in Little Rock The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
Average Annual Home Insurance Premium in Little Rock by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Little Rock for Home Insurance
Arkansas residents pay some of the highest home insurance premiums in the country. Little Rock ’s average home insurance cost is slightly lower than the statewide average, but your specific insurance rate will depend on which Little Rock neighborhood you call home.
Since home insurance rates are based on ZIP code–specific variables, things like your neighborhood’s crime rates and natural disaster risk can determine whether rates in your area are affordable. Everything from your neighbors’ home values to the number of insurance claims they’ve filed can affect your annual premiums.
Home Insurance Coverage Types in Little Rock
There are several types of home insurance. Specific terms of insurance policies may vary by city, 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),
- damage from vehicles,
- or 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,
- sudden and accidental damage.
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.
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 policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas HO-5 policies are typically “ 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.
Protecting Your Home from Little Rock Floods
Hurricanes, the Arkansas River, and the nearly 51 inches of annual precipitation Little Rock receives leave the city susceptible to floods. Home insurance policies don’t include flooding as a covered loss, so you’ll need to purchase an additional flood insurance policy to prevent paying for expensive property damage out of pocket.
Little Rock residents have two options for flood insurance: private flood insurance or a National Flood Insurance Program policy. The NFIP is great for those who live in flood zones or higher-risk areas since private insurers are more likely to charge higher premiums or turn them away altogether.
Flood insurance policies have a 30-day waiting period, which means your home isn’t covered for any flood damage it sustains within the first month after purchasing your policy. Make sure to compare your flood insurance options sooner rather than later to make sure your home has the protection it needs before the next flood.
Consider Comprehensive Coverage
Your home insurance policy has you covered in case of almost anything—from hailstorms to tornadoes to home break-ins. But if you’ve ever had to file an insurance claim, you probably noticed that your insurance agency doesn’t actually cover all of your repair costs all of the time.
This is because most home insurance policies offer actual cash value coverage, which means your insurance only pays to return your items to their condition prior to becoming damaged. If you’re looking for complete protection from natural disasters and theft, you might want to consider a comprehensive (HO-5) policy.
HO-5 policies offer replacement cost coverage, so you never have to worry about replacing your older belongings after an emergency. Comprehensive policies come at a higher cost, but knowing your home and belongings are safe (and 100 percent reimbursed) will be worth every penny.
How to Find the Cheapest Home Insurance in Little Rock
You can’t put a price on peace of mind. But you can put a price on home insurance, and Arkansas home insurance can be pretty expensive. Save time and money by comparing your Little Rock home insurance options with Insurify .
Frequently Asked Questions
Does Little Rock home insurance cover earthquake damage?
Home insurance policies don’t include earthquake damage as a covered loss, so you’ll need to purchase earthquake insurance to protect your property from earth movement. Since Little Rock lies in the New Madrid seismic zone, you might benefit from an earthquake policy. Talk to your local agent to find out if the extra coverage is worth the cost.
Do I need additional tornado insurance in Little Rock?
Most Arkansas home insurance policies include wind and hail coverage (unless specifically excluded), so you should be covered in case of a tornado.
Can a home security system help lower my home insurance premiums?
Little Rock residents have a 1 in 13 chance of becoming a victim of property crime, so installing a home security system is never a bad idea. Some insurers offer discounts for security systems, cameras, and even installing deadbolt locks on your doors, so ask your insurer what discounts you qualify for.
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