How Much Is Car Insurance in Arkansas? (2023)

The cost of your auto insurance could vary based on different factors, including your age, area, creditworthiness, coverage and driving history. The average full coverage premiums in Arkansas range from $629 from State Farm to $1,767 from Dairyland, which are the cheapest and most expensive rates, respectively. There is also a $288 price variation between young drivers and senior drivers in the state purchasing full coverage.

The average cost of car insurance in Arkansas for full coverage is $932 per year, although actual costs may fluctuate based on a number of factors. In Arkansas, drivers likely pay the following average rates:

• Clean record: $932 per year
• Speeding ticket: $1,232 per year
• DUI: $1,378 per year
• Accident: $1,440 per year

The above rates are for full coverage insurance. Minimum coverage insurance should be somewhat more affordable.

Arkansas has a moderately lower average full coverage car insurance premium than that of the $1,054 national average. Due to the state’s smaller population, moderate traffic density and fewer theft cases, you will likely pay moderate charges in the state.

It is possible that personal factors like your driving history or age could cause you to pay higher premiums in Arkansas.

The average cost of car insurance may be deceptive because premiums vary considerably between providers. State Farm has the cheapest car insurance in Arkansas for $232 per year for minimum coverage ($629 per year for full coverage). The most expensive is Dairyland, where minimum coverage costs $800 per year (full coverage costs $1,767).

Although liability-only insurance is more affordable, researching and shopping around could help you find the cheapest full coverage policy.

Higher liability limits will result in higher insurance costs. By including comprehensive and collision coverage, the cost may increase. Drivers in Arkansas spend an average of $1,131 for full coverage with increased liability limits vs. $384 for the minimum level of coverage required by law.

Long-term savings are possible with full coverage insurance if your deductible is higher, but this could result in paying more out of pocket in the event of an accident.

The least expensive minimum coverage in Arkansas only provides the lowest liability levels. Collision and comprehensive insurance are not included. Companies may offer policies with larger liability limits, equivalent to 50/100/50 or 100/300/100. Insurance with liability limits of 100/300/100 would include the following coverage:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $100,000 property damage liability

The maximum liability for an insurer is typically 300/500/300. Liability insurance covers harm or damage to others, while comprehensive and collision insurance also covers the expenses of damages to you and your car. Full coverage is defined by these coverage options.

When you are a young or new driver, these characteristics could have a major impact on your car insurance premium. Age-related price variations for full coverage in Arkansas are shown below:

• 22 to 29: $1,140 per year
• 30 to 59: $932 per year
• 60+: $852 per year

Insurance premiums are often higher for drivers in their 20s, while rates are rather steady for drivers between the ages of 30 and 59 until they reach the age of 60. New drivers will typically see rates similar to drivers in their 20s.

Teen drivers pay more for insurance than other age groups. A 16-year-old male on a full coverage family policy in Arkansas pays an average yearly premium of $2,494 compared to an individual policy costing $5,616 annually. Drivers under the age of 18 might not be able to buy insurance without a parent’s consent.

Rates decrease as drivers age. A 19-year-old may spend $1,906 per year on a family plan, as opposed to $1,552 for a 22-year-old. Get the cheapest teen auto insurance in Arkansas by comparing quotes from several companies.

Rates for different sexes can vary significantly in Arkansas. For instance, the average annual cost of a family policy for a 16-year-old female is around $256 less than the cost for a male teen.

The average annual insurance premium for a new car in Arkansas is $1,243. This is 31% higher than the average annual rate for an older vehicle, which is $947. With a new car's higher actual cash value (ACV) and higher repair expenses, insurance rates may increase.

The ACV of your car is used by companies to determine collision and comprehensive claims. Your vehicle will be less costly to insure as insurance companies pay out less for any given claim. Obtain full coverage insurance if you drive a more recent car because it covers damages to your own vehicle in addition to your liability for injuries to others.

Drivers with violations pay more for car insurance than those who have clean records. In Arkansas, drivers who have the following records pay these insurance costs for full coverage:

• Clean record: $932 annually
• Speeding ticket: $1,232 annually
• DUI: $1,378 annually
• At-fault accident: $1,440 annually

Costs often increase according to the degree of the violation. A DUI will have a greater insurance cost than a speeding citation. You can find the cheapest car insurance in Arkansas for drivers with records by comparing quotes from several companies.

Your credit rating has a significant impact on how much your auto insurance will cost. Those with poor credit tend to pay $1,398 annually, while drivers with excellent credit pay around $621 annually. Depending on your credit-based insurance score, you might pay the following rates for full coverage in Arkansas:

• Excellent: $621 per year
• Good: $767 per year
• Fair: $954 per year
• Below fair: $1,141 per year
• Poor: $1,398 per year

Finding affordable car insurance in Arkansas for drivers with bad credit requires comparison shopping because providers may charge drivers differently based on their creditworthiness.

Depending on which city you live in, your car insurance premiums may differ significantly. For instance, Little Rock's average annual cost of auto insurance is $1,128 compared to the state's average of $932.

Car insurance rates are often higher in cities like Little Rock that have denser populations or higher car theft rates.

Knowing the average cost of car insurance in Arkansas could be challenging given the rate variations resulting from unique factors. We answered frequently asked questions to help you find the best option for your profile and needs.