Best General Liability Insurance in Arkansas (2023)

To find the best general liability insurance in Arkansas, MoneyGeek looked into each insurer’s affordability, customer satisfaction, financial stability and online quote system. Thimble is our top choice based on its strong financial backing and affordable rates. It offers policies at an average cost of $22 per month for sole proprietors and $63 per month for LLCs.

We ranked the cheapest companies for general liability insurance in Arkansas, finding that Thimble is also the least expensive option for those on a budget.

With the company earning an overall MoneyGeek score of 91 out of 100, we found that Thimble offers the best general liability insurance in Arkansas. Check out the table below to see how providers ranked in our analysis based on their average costs, financial strength and customer satisfaction.

In Arkansas, Thimble offers the most affordable general liability insurance at an average monthly cost of $22 for sole proprietors and $63 for limited liability companies (LLCs).

In this category, we ranked insurers based on an affordability score that considers the monthly costs for both sole proprietors and LLCs. Please note that our winner may not have the lowest average cost for both entity types.

With an impressive MoneyGeek score of 98 out of 100, Nationwide offers Arkansas employers the best general liability insurance. Its policies cost a monthly average of only $37.

Our rankings for companies in this category are determined by the average monthly cost for LLCs with 20 employees. A company's employee count is a significant factor affecting its general liability insurance costs. Companies with a greater number of employees tend to pay more for coverage.

For sole proprietors in Arkansas, Thimble provides the best general liability insurance coverage. The company earned an overall MoneyGeek score of 95 out of 100 and offers policies at an average monthly cost of $22.

We ranked insurance companies in this category based on the average monthly rates offered for sole proprietors with no employees. Note that those in riskier industries, such as construction, tend to pay higher rates for coverage.

Arkansas state law does not require business owners to purchase general liability insurance. Even so, getting coverage is a smart way to protect your business against the risk of the following financial consequences:

• Third-party bodily injury: General liability insurance helps pay for medical expenses if a customer gets injured at your business.
• Third-party property damage: A general liability policy covers the costs of property damages caused by your business or employees.
• Personal and advertising injury: General liability insurance pays for legal expenses and other damages if someone sues your business or employees for libel, slander or copyright infringement.

It’s worth noting that general liability insurance may be required to obtain business licenses or win contracts in certain industries.

Generally, businesses with three or more employees in Arkansas must purchase a type of business insurance called workers’ compensation insurance. They must also buy commercial auto insurance for company-owned vehicles with these minimum coverage limits:

• $25,000 per person for bodily injury liability
• $50,000 per accident for bodily injury liability
• $25,000 per accident for property damage liability

On average, general liability insurance in Arkansas costs $29 per month for sole proprietors and $64 per month for LLCs. These are rates for a policy with a $2 million aggregate limit, a $1 million occurrence limit and a $0 deductible.

Whereas the aggregate limit is the maximum amount an insurance provider will pay out for all claims filed during a policy period, the occurrence limit is the maximum amount an insurer will cover for a single claim. The deductible is the amount business owners need to pay out of pocket before their provider begins to cover a claim.

General liability insurance costs vary per business depending on these significant factors:

You may have some concerns regarding affordability and service quality when looking for general liability insurance in Arkansas. We addressed some commonly asked questions to help in your decision-making process.