How Much Is Car Insurance in Arkansas? (July 2024)

The average annual cost for full coverage car insurance in Arkansas is $1,245, while minimum coverage costs around $490 per year. Factors affecting your premium include age, coverage level, location, driving record and credit history.

Arkansas drivers pay an average of $1,245 yearly for full coverage car insurance. Knowing the average costs helps you evaluate if you're getting a fair quote. Compare quotes to find the best deal.

Here's what you might pay for auto insurance in Arkansas, from minimum to full coverage, to help you budget effectively.

Car insurance in Arkansas is generally more affordable than the national average. The average annual premium for state minimum coverage is $490, lower than the national average of $595. For full coverage with a $1,000 deductible, Arkansans pay an average of $1,245 annually, slightly cheaper than the national average of $1,296.

Arkansas' moderate costs are due to the state's rural nature, which generally means lower health care costs and fewer accidents, car thefts and claims.

Car insurance premiums can differ significantly from one company to another, even within the same state. In Arkansas, Southern Farm Bureau offers the cheapest full coverage at around $771 annually. Dairyland has the most expensive average premium, costing $2,485 annually.

Compare quotes from different providers to find the most affordable coverage for your needs and maximize your savings.

Car insurance costs in Arkansas depend on the type of coverage selected. The average monthly cost for minimum coverage is $41, while full coverage averages $104. Though more expensive, full coverage offers better financial protection for incidents like accidents and theft.

Adding comprehensive and collision coverages raises your premium, but selecting a policy with a $1,000 deductible can make it more affordable. The deductible is the amount you pay out of pocket for each comprehensive or collision claim.

In Arkansas, the minimum car insurance requirements include $25,000 for bodily injury liability per person, $50,000 for bodily injury liability per accident and $25,000 for property damage liability per accident. Uninsured/underinsured motorist and personal injury protection coverages are not mandatory.

Age impacts the cost of car insurance in Arkansas. Young drivers typically pay higher rates, but premiums tend to decrease as individuals age, reflecting the lower risk associated with experienced drivers.

Younger drivers, especially those aged 22 to 29, usually face the highest average annual premiums at $1,508. Rates generally decrease for drivers in the 30 to 59 age group, costing an average of $1,245 annually. Drivers aged 60 and above benefit from the most affordable rates at $1,127 annually. The decreased rate reflects older drivers' increased driving experience and lower risk.

Age and gender significantly affect car insurance rates in Arkansas. The average annual cost for a 16-year-old male driver added to a family policy is $2,494. Sixteen-year-olds receive the highest premiums among all age groups.

Teen drivers under 18 usually cannot legally purchase car insurance without a parent or guardian's signature. If a 16-year-old male opts for an individual policy, the premium jumps to $5,616 annually.

The average annual cost of full coverage car insurance for a 2012 model is $947, significantly less than the $1,243 annual cost for a 2022 model. This premium increase is due to newer cars having higher actual cash value, repair costs and theft risk.

Drivers with newer car models should consider adding comprehensive and collision coverages to their policy for enhanced protection against various kinds of damage or loss. This expanded coverage helps safeguard your investment in a newer, more valuable vehicle.

Your driving record affects your insurance rates in Arkansas:

• With a ticket: $1,561 per year; $130 per month
• With an at-fault accident: $1,816 per year; $151 per month
• With a DUI: $1,726 per year; $144 per month

Violations impact your premiums as long as they're on your record. In Arkansas, a DUI affects costs for at least five years, with additional fines and fees.

Explore the table below for average state minimum or full coverage costs by coverage and age group based on driving history.

In Arkansas, the average annual cost of car insurance varies with your credit score, ranging from $621 for excellent credit to $1,398 for poor credit.

Your credit score is a significant factor in determining your car insurance rates, as insurers consider it when assessing the risk of providing you with coverage. A good credit score typically ranges from 670 to 739. Drivers with higher scores often enjoy more affordable premiums.

Exploring the diverse factors affecting the cost of car insurance in Arkansas is important to discover the most affordable rates suitable for your specific needs.

• Driving Record: A clean driving record can lower car insurance rates, while tickets and accidents typically increase premiums.

• Age and Gender: Younger drivers, especially males, may face higher rates due to perceived risk, whereas mature drivers enjoy more favorable pricing.

Location: Urban areas with higher traffic density can attract higher premiums due to the increased likelihood of accidents and theft.

• Vehicle Type: Car insurance cost is partly determined by your car's make and model, including its safety features and repair or replacement costs.

• Coverage Type: Opting for collision insurance or comprehensive insurance will affect your rate differently than choosing minimum coverage.

• Credit Score: Generally, a higher credit score can lead to lower insurance costs, as insurers consider credit an indicator of reliability.

• Insurance History: Gaps in insurance coverage or claims history can increase car insurance rates.

• Discount Eligibility: Discounts for multiple vehicles, defensive driving courses or bundling policies can substantially lower the insurance cost.

• Deductible Amount: Choosing a higher deductible often results in a lower premium. However, you might pay more out of pocket in the event of a claim; ensure you can afford your chosen deductible.

To secure affordable car insurance in Arkansas, compare quotes from multiple insurers, opt for a higher deductible and take advantage of all available discounts.

Get answers about what impacts the average car insurance cost in Arkansas and how to find affordable rates.