The Best Bundled Insurance in Arkansas
The Best Home and Auto Bundles in Arkansas
MoneyGeek evaluated bundle insurance companies based on cost, customer satisfaction and available discounts. We found that the following two companies offer the best auto and home insurance in Arkansas:
- State Farm: MoneyGeek score of 86 out of 100
- Allstate: MoneyGeek score of 81 out of 100
In terms of discounts, State Farm received a perfect score. The insurer also excelled in both auto and home satisfaction. Allstate, our runner-up choice, received high ratings for auto and home insurance satisfaction, as well as for discounts.
Received a perfect score in discounts
Provides roadside assistance
Offers home systems protection
Doesn’t offer gap insurance
Doesn’t offer paperless discount for car insurance
State Farm is the best auto and home insurance provider in Arkansas. The insurer is the fourth most affordable provider in Arkansas, with policies costing approximately $3,155 annually. This includes a 26% discount for bundling policies; individual home and auto insurance purchased separately from the provider would cost a total of $4,263.
State Farm auto insurance allows drivers to add coverages, such as roadside assistance, rental car and travel reimbursement. In the event that you cause an accident while driving a rental car, the latter add-on coverage will cover your rental car and travel expenditures up to a specified amount. Although State Farm is an excellent option overall, it lacks standard add-ons, such as accident forgiveness, deductible modification and new car replacement.
According to MoneyGeek's study, State Farm home insurance is also a quality option. The insurance company offers unique add-on coverages, like its energy-efficient upgrade. If a covered loss results in damage to your heating, cooling or water heating system, State Farm’s energy-efficient upgrade will pay up to 150% of the cost of new, more energy-efficient equipment for you to replace it with.
Earned good scores in discounts, home and auto insurance satisfaction
Offers custom parts coverage
Reduces annual premium through bundling discount
Doesn’t offer better car replacement coverage
Doesn’t offer discounts for insuring multiple cars
Allstate is the second-best auto and home insurance provider in Arkansas. The insurance company offers auto and home insurance bundles for an average of $4,348 per year. By bundling policies, you could save 18%, or up to $934.
Allstate also provides unique auto insurance coverage, including custom parts coverage and portable electronics and media coverage. Full coverage policyholders with Allstate can protect assets, such as murals, customized flooring, bars and more. However, one disadvantage of Allstate auto insurance is that it does not offer a defensive driving discount.
In addition, homeowners can acquire additional coverage from Allstate, such as yard and garden coverage. This covers damage to your yard by increasing limits for the costs of trees, landscaping and riding lawn mowers. Additionally, homeowners can obtain protection against mold and fungus.
The Best Home and Auto Bundles in Arkansas for Military Backgrounds
With a MoneyGeek score of 93 out of 100, USAA is the best provider of home and auto insurance in Arkansas. However, it is only accessible to active-duty and retired military personnel.
USAA is the top provider of home and auto insurance in Arkansas for military veterans, active duty personnel and their families. MoneyGeek awarded USAA a perfect score for its home and auto insurance. Despite falling short in terms of discounts, this company's policyholders can still save with the insurer’s bundle discount of 11%. This decreases costs by roughly $345 per year.
Among the coverages included in USAA's auto insurance policies is accident forgiveness, which is relatively uncommon. USAA policyholders who remain accident-free for five years won’t experience an increase in the cost of their annual premium following their first at-fault accident. However, this provider does not offer discounts for anti-theft equipment, airbags or defensive driving.
In terms of USAA's home insurance, the company offers home rental and earthquake coverages to supplement existing policies. A USAA homeowner may also receive a discount if they have a home security system.
The Best Home and Auto Bundle Discounts in Arkansas
In Arkansas, the average insurance company discount rate is $693, or 16%. State Farm provides the highest discount at 26%, whereas Travelers offers the lowest rate at 5%.
It’s important to keep in mind that the company that offers the highest discount for bundling insurance policies may not be the cheapest. Farmers, for instance, offers the cheapest home and auto insurance in Arkansas at $2,911 per year. However, its 14% discount rate is significantly lower than State Farm's discount rate of 26%. Because of this, bundle insurance providers should be selected based on a number of factors, like overall cost, product offerings and discounts.
The Cheapest Home and Auto Bundles in Arkansas
As per MoneyGeek’s analysis, the following insurance companies provide the cheapest home and auto insurance in Arkansas:
- Farmers: $2,911 per year
- Nationwide: $3,035 per year
Although USAA has the most affordable premiums at around $2,763 per year, it was omitted from our results since it is only available to former and current military members.
Our recommendations identify the providers with the most reasonable rates, but they may not meet your requirements for an insurer. The best insurer for you will be the one that aligns with your coverage needs and financial goals.
Farmers offers the cheapest home and auto insurance in Arkansas, with plans costing approximately $2,911 annually. Those that bundle policies, rather than purchasing them individually, can save up to 14% with this insurer.
Though Farmers' car insurance products are already modestly priced, the insurer offers customers even more ways to save through a variety of discounts. Discounts can be received for insuring multiple vehicles, installing anti-theft systems and airbags in your vehicle, opting for paperless billing, safe driving and others.
Farmers homeowners insurance provides policyholders with 13 homeowners insurance discounts, significantly higher than the industry average of seven. Most of these discounts are also quite unique among service providers. These include, but aren’t limited to, claim forgiveness, paperless billing and new home discounts.
The Cheapest Non-Bundle Insurance Combinations in Arkansas
Although bundling auto and home insurance may be convenient, it may not be the best approach to save money. In certain instances, you can save more by purchasing insurance policies from two different providers.
However, in Arkansas, it is significantly cheaper to bundle auto and home insurance with the same insurer. For instance, Farmers bundle insurance costs approximately $2,911 annually. On the other hand, a non-bundle coverage with Farmers auto insurance ($1,040) and Travelers homeowners insurance ($2,060) costs about $3,100 per year, which is $189 more expensive than Farmers' auto and home insurance bundle.
Should You Bundle Home and Auto Insurance in Arkansas?
Bundling your home and auto insurance in Arkansas is often a wise decision. It is considerably more convenient to have coverage with a single insurer, and you may even receive a discount. However, although bundling policies has its perks, it may not always be applicable to your situation.
Bundle discounts in Arkansas can save you between 5% and 26% per year.
According to research conducted by MoneyGeek, State Farm offers the highest discount rate, allowing policyholders to save approximately 26% by bundling policies. On the other hand, Travelers only offers a 5% discount for bundling insurance policies.
Bundles are a convenient way to combine your most important property insurance policies.
There are advantages to bundling auto and home insurance in Arkansas. For instance, it’s often easier to manage a single account and submit claims to one insurance provider.
In rare cases, it might be better not to bundle in Arkansas.
Although it’s cheaper to bundle auto and home insurance, it is possible to discover a cheaper non-bundled option. However, bundling home and auto insurance is the best option. With Farmers, you can purchase an auto and home insurance bundle in Arkansas for $2,911 per year. A non-bundle coverage with Farmers auto insurance ($1,040) and Travelers homeowners insurance ($2,060) costs around $3,100 annually, which is $189 higher than Farmers' auto and home insurance bundle.
About Mark Fitzpatrick