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.

MoneyGeek Logo IconBest General LiabilityArkansas
2024

Best General Liability Insurance in Arkansas

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in Arkansas.

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Coverage costs and company information for general liability insurance providers in Arkansas were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in Arkansas

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.

How was this MoneyGeek score calculated?

NationwideMoneyGeek Score91Monthly Cost Without Employees$35Monthly Cost With 20 Employees$37
ThimbleMoneyGeek Score91Monthly Cost Without Employees$22Monthly Cost With 20 Employees$63
The HartfordMoneyGeek Score91Monthly Cost Without Employees$31Monthly Cost With 20 Employees$48
HiscoxMoneyGeek Score84Monthly Cost Without Employees$29Monthly Cost With 20 Employees$107
Best OverallScore: 91
Thimble
3/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Cheapest provider for sole proprietors

Fast online quote process

Excellent financial stability rating

CONS

Offers second-highest average rate for LLCs

Above-average customer complaints

Company Highlights

Thimble is the best option if you're looking for general liability insurance in Arkansas. It offers the cheapest rates for sole proprietors at an average of $22 per month. However, its general liability coverage for LLCs is more expensive than other insurers at $63 per month.

Getting quotes online is a fast and easy process with Thimble. It's A- rating from AM Best also suggests it boasts a robust financial foundation, meaning your claims will be paid out. In terms of customer satisfaction, the company has a high average rate of complaints, according to the National Association of Insurance Commissioners (NAIC).

Cheapest General Liability Insurance in Arkansas

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.

How was this MoneyGeek score calculated?

CheapestScore: 94
Thimble
3/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Offers the cheapest general liability insurance coverage for sole proprietors

Excellent financial strength

Fast online quote application process

CONS

More expensive for LLCs than other insurers

Company Highlights

Thimble emerged as the winner in our evaluation, offering the most affordable general liability insurance for sole proprietors in Arkansas at approximately $22 per month. On the other hand, its policies for LLCs cost an average of $63 per month — the second-highest rate in the state. While Thimble excels in affordability for companies with no employees, businesses structured as LLCs may find other options more cost-effective.

Getting an online quote from Thimble is a quick and seamless process, taking only around 30 seconds. The company's commitment to meeting ongoing financial obligations is evident through its impressive A- rating from AM Best, highlighting its financial stability.

Best General Liability Insurance for Employers in Arkansas

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.

How was this MoneyGeek score calculated?

Best for EmployersScore: 98
Nationwide
5/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

Most affordable insurer for LLCs with 20 employees

High customer satisfaction and financial stability ratings

CONS

Online quote application process may take longer

Company Highlights

Employers in Arkansas seeking general liability insurance may consider Nationwide as their best option due to its combination of service quality and inexpensive premiums. Among the evaluated insurers, Nationwide offers the most competitively priced policies for LLCs, with an average monthly cost of $37.

According to the NAIC complaint index, Nationwide receives the lowest rate of complaints among the insurers in our study. The insurer's A+ rating from AM Best signifies the company's strong financial stability and ability to fulfill insurance claims. This rating offers employers peace of mind, knowing that the claims they file will be handled efficiently and effectively.

Best General Liability Insurance for Sole Proprietors in Arkansas

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.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 95
Thimble
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

Charges sole proprietors the most affordable premiums

Exceptional AM Best financial strength rating

Fast online quote system

CONS

Receives above-average customer complaints

Company Highlights

Thimble is the top choice for sole proprietors seeking general liability insurance in Arkansas. With an average monthly cost of $22, Thimble offers the most affordable policies in the state for this business structure.

Thimble holds an A- rating from AM Best, ensuring policyholders that their insurance claims will be honored and paid. However, the company receives more complaints than other insurers in our analysis, indicating relatively poor customer satisfaction. Despite this, Thimble offers the convenience of obtaining an online quote in around 30 seconds, providing a fast and user-friendly experience for potential policyholders.

Do You Need General Liability Insurance in Arkansas?

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
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SMALL BUSINESS RESOURCES IN ARKANSAS

The Arkansas Economic Development Commission has partnered with Startup Junkie to empower entrepreneurs and innovators in the state. Through this collaboration, the program offers valuable resources and support to aspiring business owners. Small business owners can benefit from no-cost, one-on-one consulting services and access to various events, workshops and programs.

How Much Is General Liability Insurance in Arkansas?

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.

Factors That Impact General Liability Insurance Costs in Arkansas

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

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    Policy limits

    General liability insurance includes the aggregate limit and occurrence limit. The aggregate limit is the maximum amount your insurance provider will pay out for all claims during a policy term, while the occurrence limit is the most your insurer will pay for each claim. The higher your coverage limits, the more expensive your premium will be.

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    Number of employees and payroll costs

    The employee count of your business is a significant factor affecting your general liability insurance costs. Insurance companies charge higher rates for businesses with more employees because they are more likely to file insurance claims.

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    Business location

    Another factor that affects your premiums is the location of your business. You may pay more for general liability coverage if your business is based in a high-traffic area or a neighborhood with a high crime rate.

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    Claims history

    Insurers often evaluate claims histories when determining rates. Claims-free business owners often have lower premiums than those who have filed claims before.

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    Industry

    Each industry has its own unique set of hazards and vulnerabilities. Those with high levels of risk, like construction businesses, tend to pay more for coverage due to their increased rates of injuries and claims. See the table below for the average cost of general liability insurance in Arkansas based on the business industry.

CleaningMonthly Cost Without Employees$69Monthly Cost With 20 Employees$1,712
Software DevelopmentMonthly Cost Without Employees$29Monthly Cost With 20 Employees$64
General ContractorMonthly Cost Without Employees$151Monthly Cost With 20 Employees$2,035

Frequently Asked Questions About General Liability Insurance in Arkansas

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.

Which company has the best general liability insurance in Arkansas?
Which company has the cheapest general liability insurance in Arkansas?
What does general liability insurance cover in Arkansas?
Does Arkansas require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.


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