The Cheapest Car Insurance in Arkansas for 2022
The cheapest car insurance in Arkansas is from GEICO, at an average of $370 annually.
To help you find the best and most affordable car insurance, MoneyGeek compared quotes from several companies in Arkansas. GEICO provides the cheapest policies for drivers with tickets and bad credit, while Southern Farm Bureau is the most affordable for seniors and drivers with a DUI. By comparing prices, drivers can save around $788 annually.
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The Cheapest Car Insurance in Arkansas
We analyzed the most affordable car insurance companies in Arkansas by city for those seeking more localized options. We also took a look at the best car insurance companies in Arkansas for those hoping to balance good service and affordability.
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 August 2022 to reflect how car insurance rates in Arkansas have changed up to this month.
Cheapest Minimum Liability Car Insurance in Arkansas
Arkansas drivers pay different rates for car insurance based on various factors. The cheapest car insurance option is a liability-only policy that meets the state’s car insurance coverage minimums.
The most affordable providers of minimum liability-only car insurance coverage in Arkansas are:
- GEICO: $370 per year
- Southern Farm Bureau: $391 per year
USAA offers the most affordable car insurance in Arkansas at an average cost of $302 per year but is exclusively available for current and former military members and their families.
CHEAPEST MINIMUM CAR INSURANCE IN ARKANSAS
These prices are only estimates based on rates for an average Arkansas driver and should not be used to compare insurance prices.
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Cheapest Full Coverage Car Insurance in Arkansas
A full coverage policy in Arkansas features higher limits, as well as comprehensive and collision coverage that protects drivers from road accidents and off-road incidents.
Although a full coverage policy costs more in Arkansas, the policy comes with protection for your car in case you get involved in an accident. Comparing car insurance quotes from multiple carriers can help you secure the lowest rates.
The most affordable full coverage insurance providers in Arkansas are:
- Southern Farm Bureau: $838 per year
- GEICO: $860 per year
The cheapest full coverage car insurance provider in Arkansas for current and former military members and their families is USAA at an average cost of $658 per year.
CHEAPEST FULL COVERAGE CAR INSURANCE IN ARKANSAS
These prices are for comprehensive and collision insurance coverage for a policy with $100,000 bodily injury liability per person, $300,000 bodily injury coverage per accident and $100,000 property damage coverage per person. Be sure to compare quotes across multiple carriers if you wish to secure the cheapest coverage.
How to Compare Cheap Arkansas Car Insurance Quotes Online
Most Arkansas auto insurers offer online quotes to help consumers shop for car insurance packages. Here are a few tips to help you find online quotes.
- Reviewing quotes from different insurers can help you secure the lowest rates within Arkansas. Specifying the same coverage limits across all companies facilitates a successful comparison. For instance, if you are looking for comprehensive and collision insurance with a $500 deductible, specify this as your ideal limit on all quotes to ensure an apples-to-apples comparison.
- You can get a quote estimate for an average Arkansas driver using MoneyGeek’s car insurance calculator. Enter more information if you want a personalized quote.
- For most drivers, the cheapest car insurance companies in Arkansas for a minimum liability policy are USAA, GEICO and Southern Farm Bureau.
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Cheapest Car Insurance in Arkansas for Young Drivers
Auto insurance companies in Arkansas consider young drivers riskier to insure. Thus, young drivers typically pay more than the average adult driver. A 16-year-old driver in the state pays an average of $3,096 per year, while the average cost of a similar policy for a 25-year-old driver is $1,204 annually.
For young drivers ages 16 to 18 in Arkansas, Allstate is most commonly the cheapest option. For drivers 19 to 25 years old, GEICO offers the cheapest car insurance policies.
ANNUAL CAR INSURANCE IN ARKANSAS FOR YOUNG DRIVERS
Car insurance is more expensive for young drivers but there are many ways to reduce the cost of their policies. Some of these ways are driving a midsize sedan, having good grades, taking a defensive driving course and avoiding collisions and DUIs. In order to save money, parents can also add young drivers to their insurance policy instead of buying them a separate policy.
16-year-old drivers can have a policy that costs as little as $2,778 per year on average. On the other hand, the cheapest policy for 25-year-old drivers costs an average of $977 per year.
Cheapest Car Insurance in Arkansas for Seniors
Arkansas seniors pay more for car insurance than middle-aged drivers. The average annual cost for senior drivers is $1,228, which is slightly higher than the rate paid by the average driver.
The most affordable full coverage car insurance providers for seniors in Arkansas are:
- Southern Farm Bureau: $747 per year
- State Farm: $990 per year
USAA, available exclusively for military members and their families, is the cheapest car insurance in Arkansas for seniors at an average cost of $713 per year.
CHEAPEST CAR INSURANCE RATES FOR SENIORS
The National Highway Traffic Safety Administration reports that 116 people who are 65 and older died in traffic accidents in Arkansas in 2017. Senior citizens accounted for 16.8% of all traffic fatalities in that year.
As a result, prices for car insurance may increase as drivers get older. Discounts can help lower the cost of premiums. Another way to pay lower premiums is by comparing rates.
In Arkansas, the least expensive policy for seniors costs $747 per year while the most expensive costs $1,590 per year, on average. Purchasing the cheapest policy can give you $843 in annual savings.
Cheapest Car Insurance for Drivers With Tickets in Arkansas
Arkansas drivers with a history of minor violations like speeding tickets pay higher rates than drivers with a clean record. The average cost of car insurance for such drivers is $1,587 per year, while those with a clean driving history pay $1,181.
The cheapest providers of full coverage insurance for drivers with speeding tickets in Arkansas are:
- GEICO: $860 per year
- Southern Farm Bureau: $907 per year
On average, USAA provides the lowest rates for Arkansas drivers with speeding tickets at $775 annually. However, USAA offers car insurance exclusively to military members and their families.
AVERAGE CAR INSURANCE RATES WITH A TICKET
Because distracting driving can be dangerous, a speeding or distracted driving ticket can have an impact on your car insurance rates. According to information from the National Highway Traffic Safety Administration (NHTSA), 472 crashes in Arkansas were caused by distracted driving in 2018. Arkansas state law prohibits texting while driving, so getting a ticket may increase your auto insurance rates. If you've recently received a ticket, compare car insurance companies to find the best rates.
Your car insurance premium will likely increase if you get a speeding or distracted driving ticket. According to the Insurance Information Association, your driving record is taken into account when you secure your auto policy, so being riskier to insure means paying higher premiums. Your insurer can also re-evaluate your rate if you get a moving violation (i.e., a speeding ticket).
Cheapest Car Insurance for Drivers With a DUI in Arkansas
If you have a history of DUIs, insurance providers will charge you more since a DUI is a high-risk violation and you might need to file an SR-22. On average, drivers with a DUI violation pay $2,119 per year. Meanwhile, drivers with clean records pay only $1,181 on average.
The cheapest full coverage insurers in Arkansas for drivers with a DUI are:
- Southern Farm Bureau: $1,003 per year
- State Farm: $1,096 per year
Meanwhile, the most expensive option is a policy from Shelter, averaging $2,983 per year for Arkansas drivers with DUIs.
AVERAGE CAR INSURANCE RATES WITH A DUI
A DUI comes with a hefty price tag, along with more responsibilities. Drivers with a DUI need to pay legal and court fees, take alcohol education treatment programs and pay for more expensive car insurance premiums.
In Arkansas, the cheapest average premium for drivers with a DUI is $1,003 per year and the most expensive is $2,983. Therefore, drivers can save roughly $1,980 on their car insurance if they shop around to find the most affordable insurer.
Cheapest in Arkansas for Drivers With an At-Fault Accident
Insurance companies charge more to Arkansas drivers with a history of at-fault accidents. The average cost of auto insurance in the state for drivers with at-fault accidents is $1,863 per year.
On average, the most affordable car insurance companies for drivers with at-fault accidents in Arkansas are:
- Southern Farm Bureau: $1,067 per year
- State Farm: $1,187 per year
USAA is the cheapest option in the state, with an average rate of $946 annually. However, its policies are only available to military families.
CHEAPEST CAR INSURANCE WITH AN AT-FAULT ACCIDENT
Cheapest Car Insurance in Arkansas for Drivers With Bad Credit
Arkansas drivers with poor credit scores pay more for car insurance than those with good scores. On average, those with bad credit pay $2,129 per year, almost double the rate of an average driver.
The cheapest insurance company for drivers with bad credit scores in Arkansas are:
- GEICO: $1,347 per year
- Southern Farm Bureau: $1,364 per year
For military members and their families, USAA offers the cheapest insurance in the state for drivers with bad credit at $1,065 per year on average.
CHEAPEST CAR INSURANCE RATES FOR DRIVERS WITH BAD CREDIT
Most insurers base premiums in part on a driver's credit score. Raising your credit score might help you save money on your auto insurance and manage your money better. Getting auto insurance quotes allows you to find cheaper premiums while you improve your credit score.
The cost of car insurance for drivers with bad credit in Arkansas can range from an average of $1,347 to $2,384 per year. If you purchase a policy from an insurer that offers the cheapest rate, you can save as much as $1,001 per year.
Cheapest Car Insurance in Arkansas for Military Drivers
For military drivers in Arkansas, USAA offers the cheapest auto insurance out of 11 companies. Charging an average of $302 per year for a state minimum policy, USAA’s policies are $68 cheaper on average than the runner-up, GEICO.
- Average Rate: $302 per year
- Ranks 1st out of 11 insurers
USAA also caters exclusively to active-duty military members, veterans and their family members, which means their insurance products are not only discounted but specialized for military families and their unique needs.
Cheapest Car Insurance in Arkansas by City
Your place of residency can also have an impact on how much your car insurance policy costs. In Little Rock, the average annual cost of a full coverage policy is $1,189 per year.
If you want to know more about auto insurance in your area, click on your city.
AVERAGE INSURANCE RATE BY CITY IN ARKANSAS
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Car Insurance in Arkansas: What You Need to Know
To be able to drive or own a vehicle in Arkansas, you need to have a car insurance policy. Authorities will ask for proof of insurance and state laws require drivers to have specific coverages.
Arkansas Insurance Requirements
Arkansas Insurance Requirements
Proof of insurance in Arkansas can be requested by the Arkansas Department of Finance and Administration or a police officer. The former routinely checks for vehicle registration and verifies your policy electronically. If requested, drivers in this state should present a physical or electronic copy of their policy to a police officer.
Car insurance is an important requirement for drivers in Arkansas. The law provides that drivers need to have at least the following coverages in their policy:
- $25,000 for bodily injury per person
- $50,000 for bodily injury per accident
- $25,000 for property damage
It’s cheaper to get the minimum coverage insurance, though you need to take note that it only covers the basics. The Insurance Information Institute recommends that drivers should have liability insurance of at least $100,000 per injury and $300,000 per accident. Your policy could be significantly more expensive when you have more coverage than the state’s minimum requirements.
If getting a policy with more coverage is out of your budget, you can ask your insurer for the discounts they offer. Arkansas requires insurers to provide a discount to seniors over 55 years old and college graduates who have completed a defensive driving course approved by the state.
In Arkansas, every driver is required to have car insurance. However, you can still obtain coverage through the Arkansas Automobile Assigned Risk Plan if you are unable to purchase a normal policy from an insurance provider.
FAQs About Car Insurance in Arkansas
Car insurance questions in Arkansas often revolve around the costs and coverage options available. We address some of the most common questions within the state below:
Expert Advice on Finding Cheap Car Insurance in Arkansas
To help you find credible and accurate insight on car insurance in Arkansas, MoneyGeek received expert advice from trusted professionals. The perspectives and opinions expressed are those of the individual contributor.
- What are the key factors in Arkansas should look for when searching for the best auto insurance coverage?
- What steps can drivers in Arkansas take to find affordable car insurance?
Assistant Professor of Finance, Walton College of Business at the University of Arkansas
Associate Professor at the University of Arkansas System Division of Agriculture Cooperative Extension Service
About the Author
- Arkansas Insurance Department. "Automobile Insurance." Accessed March 10, 2020.
- Centers for Disease Control. "Sobering Facts: Alcohol-Impaired Driving State Fact Sheets." Accessed December 16, 2020.
- Centers for Disease Control and Prevention. "Motor Vehicle Safety." Accessed March 9, 2020.
- Experian. "2019 Consumer Credit Review." Accessed March 10, 2020.
- Insurance Information Institute. "Auto Rate Setting." Accessed March 10, 2020.
- National Highway Traffic Safety Administration (NHTSA). "2018 Fatality Analysis Reporting System (FARS)." Accessed March 10, 2020.