How Much Is Car Insurance in Arkansas? (2022 Averages)
Arkansas’ car insurance rates rank 27th among all states. Compared to the national average of $1,424, the average cost of insurance in Arkansas is slightly lower. MoneyGeek breaks down car insurance rates in Arkansas based on age, coverage level, driving history and credit score.
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Your driver profile and coverage level significantly impact the cost of your car insurance. The average driver in Arkansas pays $1,189 for car insurance. However, if you only have a minimum coverage policy, you'll pay significantly less at $622 per year, on average. Incurring a traffic violation or adding a young driver to your policy will increase the cost of your insurance to approximately $1,598 and $3,121 per year, respectively.
Even for the same level of coverage, the provider you pick can significantly affect the price of your insurance. For a full coverage policy in Arkansas, you may spend as little as $866 per year with GEICO, or up to $1,918 per year with MetLife.
Methodology
Why Trust MoneyGeek? Arkansas car insurance rates in this study are based on our analysis of data and information from the Arkansas Department of Insurance and Quadrant Information Services.
These rates were updated in September 2022 to reflect how car insurance rates in Arkansas have changed up to this month.
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The Average Cost of Car Insurance in Arkansas
Several factors affect car insurance rates in Arkansas. The most significant factor affecting how much car insurance costs in Arkansas is age. Poor credit is the second.
You can click the driver profiles to see more information on the average cost of car insurance for each.
Average Costs of Car Insurance in Arkansas
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- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$1,189$99
- Drivers Buying Minimum Coverage$622$52
- Adding a Young Driver$3,121$260
- Drivers With a Violation$1,598$133
- Drivers With Poor Credit$2,144$179
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Why Are Car Insurance Rates Reasonable in Arkansas?
The average cost of car insurance in Arkansas is moderately priced, as car insurance rates vary by state. A mix of factors puts Arkansas at 27th among all states for auto insurance costs.
Some contribute to increasing the rate, such as uninsured motorists in the state. Around 19% of Arkansas drivers don’t carry insurance, putting it eighth among states.
Around 56% of the people in Arkansas live in urban areas. It ranks 46th in the urban share of the population, tied with Montana. It also ranks 36th in highway traffic density. Both contribute to lower car insurance rates in Arkansas.
Factors unique to your area, such as traffic congestion and where you live in the state, may give you higher-than-average rates.
Average Cost of Car Insurance in Arkansas: Full Coverage vs. Minimum Coverage
The difference between car insurance rates in Arkansas varies depending on how much coverage you purchase. Your liability limits and whether you include collision and comprehensive insurance help determine how much car insurance costs in Arkansas.
A liability-only policy meeting Arkansas’ minimum state requirement costs around $622 per year. In comparison, if you choose to purchase a full coverage policy, the premium increases to an average of $1,189 per year. That’s a difference of $567.
Average Cost of Car Insurance in Arkansas by Coverage Level
A state-minimum policy in Arkansas is the cheapest insurance you can buy.
Be aware that your liability insurance can be increased to 50/100/50 or 100/300/100. These terms serve as shorthand for liability coverage amounts over the legal minimum in Arkansas. For instance, 50/100/50 indicates the following coverages:
- $50,000 in bodily injury liability insurance per person
- $100,000 in bodily injury liability insurance per accident
- $50,000 in property damage liability insurance per accident
Comprehensive and collision coverage are both included in a full coverage policy, which also pays for your car's damages.
Average Cost of Car Insurance in Arkansas By Company
Car insurance rates in Arkansas may vary across different providers. If you don’t compare quotes from several carriers, you may end up purchasing a policy with a higher premium.
If you’re looking for cheap liability-only coverage, GEICO offers a policy for an average of $373 per year. Southern Farm Bureau is best for affordable full coverage car insurance — their policy costs $843 yearly on average.
USAA offers lower rates, but their policies are only available to present and former military members and their families.
MetLife offers the most expensive options for both coverages. Liability-only coverage with state minimum requirements costs an average of $1,039 per year, while you pay roughly $1,918 annually for full coverage car insurance.
Average Annual Costs of Car Insurance in Arkansas - By Company
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- CompanyMinimum CoverageFull Coverage
- $304$663
- Southern Farm Bureau$394$843
- $373$866
- $502$924
- $506$1,012
How Much Is Car Insurance in Arkansas by Age?
The primary factor affecting how much car insurance costs in Arkansas is age. A 40-year-old driver pays an average of $1,189 per year for car insurance. In comparison, a policy with similar coverage for a 16-year-old costs $3,121 annually on average. It’s a difference of $1,932.
If you want to save on premiums, you can consider adding a young driver to their parents’ policy instead of getting them a separate plan. First-time drivers may notice that car insurance rates in Arkansas for their profiles are similar to those for teen drivers. It’s because providers also consider driving experience when setting premiums.
Average Costs of Full Coverage Car Insurance in Arkansas - By Age
How Does Driving History Affect Car Insurance Costs in Arkansas?
In addition to age and experience, providers also look at driving history when setting car insurance rates in Arkansas. The more severe your violation, the more expensive car insurance in Arkansas becomes.
High-risk drivers — those with bad driving records — typically pay higher premiums than safe drivers. For example, a driver with a clean driving record pays $1,189 per year on average. If you have a speeding ticket, you spend around $409 more — your premium increases to about $1,598 annually.
Average Costs of Full Coverage Car Insurance in Arkansas - By Driving History
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- Driving ViolationAnnual Premium
- Safe Driver$1,189
- Speeding Ticket$1,598
- At-Fault Accident$1,876
- DUI$2,133
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Credit Scores and the Cost of Car Insurance in Arkansas
After age, your credit score is the factor impacting car insurance rates in Arkansas the most. Typically drivers with bad credit pay more each year compared to those who have good credit scores.
If you have poor credit standing, car insurance rates in Arkansas reach $2,144 per year on average. It’s $983 more than the premium a driver with good credit pays — their policy costs an average of $1,161.
Drivers with excellent credit can get even lower rates. They spend around $203 less than drivers with good credit, with an average annual premium of $958.
Average Costs of Full Coverage Car Insurance in Arkansas - By Credit Score
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- Credit ScoreAnnual Premium
- Excellent$958
- Good$1,161
- Fair$1,488
- Below Fair$1,799
- Poor$2,144
How Much Is Car Insurance in Your City?
MoneyGeek’s analysis on Arkansas’ car insurance rates uses data from Little Rock. Car insurance premiums vary between states, but they may be different within one as well. If your premium is higher than the average cost of car insurance in Arkansas, it may be due to factors unique to your location. These include road accidents, a city’s population or exposure to extreme weather conditions or natural disasters.
Average Costs of Full Coverage Car Insurance in Arkansas - By City
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- CityAnnual Premium
- $1,189
Frequently Asked Questions About Arkansas Car Insurance Rates
If you’re reading up on whether car insurance is expensive in Arkansas, these may answer questions you have.
About the Author
sources
- Insurance Information Institute. "Facts + Statistics: Uninsured Motorists." Accessed September 11, 2021.