The average cost of homeowners insurance in Arkansas in 2024 is $4,023, while the national average is $2,423. Aside from coverage amount, the insurance provider has the most notable effect on premiums, with a range reaching up to $9,640 between the lowest and highest options. If you're noticing a spike in your rates, our analysis of the cheapest policies in the state might guide you to more affordable coverage.
Average Cost of Homeowners Insurance in Arkansas (2024)
Arkansas' average home insurance premium is $4,023 yearly, $1,600 more than the national rate. Learn what factors affect your cost the most.
Updated: November 21, 2024
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Table of Contents
To establish the average cost of homeowners insurance in Arkansas, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.
These rates reflect the average cost of home insurance in Arkansas as of 2024.
Average Cost of Home Insurance in Arkansas by Coverage Amount
In Arkansas, homeowners insurance averages $4,023 annually for policies with $250K Dwelling / $125K Personal Property / $200K Liability coverage. This is more than the national average by $1,600.
When considering how much coverage you need, it's important to have enough to rebuild your home and cover all other associated costs. For example, choosing $100K in dwelling coverage leads to an annual premium of $2,401. If your property is larger and requires $500K in dwelling coverage, the annual premium jumps to $6,529.
Average Annual Home Insurance Premium New Jersey by Coverage Amount
$100K Dwelling / $50K Personal Property / $100K Liability | $2,401 |
$250K Dwelling / $125K Personal Property / $200K Liability | $4,023 |
$500K Dwelling / $250K Personal Property / $300K Liability | $6,529 |
$750K Dwelling / $375K Personal Property / $500K Liability | $9,299 |
Average Cost of Home Insurance in Arkansas by Insurer
Premiums for homeowners insurance in Arkansas can vary significantly among providers, even for similar levels of coverage. Shelter, for example, offers an annual premium of $2,158, while Travelers' equivalent coverage soars to $10,604. For those seeking comprehensive insights, there are plenty of great providers in Arkansas. Differences in underwriting criteria, regional risk assessments and company-specific discounts can influence these costs.
Average Annual Home Insurance Premium New Jersey by Provider
- $100K Dwelling / $50K Personal Property / $100K Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
Shelter | $2,158 |
State Farm | $2,321 |
USAA | $2,822 |
Farmers | $3,243 |
Nationwide | $3,530 |
Allstate | $3,696 |
Auto-Owners Insurance | $3,807 |
Travelers | $10,604 |
Average Cost of Home Insurance in Arkansas by Credit Score
Homeowners in Arkansas with poor credit pay an average annual premium of $10,896 for homeowners insurance, considerably higher than the $2,356 average for those with excellent credit. This stark contrast demonstrates the impact credit scores have on insurance rates, with poor credit resulting in premiums that are $6,873 above the state average of $4,023.
While immediate improvement of your credit score may not be feasible, long-term credit management can lead to lower rates. In the interim, shopping around for insurance could yield savings. Comparing insurers can be done swiftly and you can discover which insurer will save you the most in Arkansas in under 15 minutes.
Average Annual Home Insurance Premium in NJ by Credit Rating
- $100K Dwelling / $50K Personal Property / $100K Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
Poor | $10,896 |
Below Fair | $7,857 |
Fair | $5,751 |
Good | $4,023 |
Excellent | $2,356 |
Average Cost of Home Insurance in Arkansas by Construction and Roof Type
The type of roof on your home influences your homeowners insurance premium, though it's not the most significant factor. In Arkansas, materials like tile, which offer durability, can lower insurance costs. Conversely, shake-treated roofs, which are less resistant to certain perils, such as severe weather, may increase premiums.
Similarly, the construction type of your home affects insurance rates due to material resilience against potential damages. For instance, homes constructed with superior materials that are more fire-resistant could see more favorable insurance premiums. Standard frame construction, which is less robust, might incur slightly higher costs.
Use the drop-downs on the table below to see how premiums change based on your home's materials.
Average Annual Home Insurance in New Jersey by Construction and Roofing Type
- Frame
- Masonry
- Superior
- Tile
- Composition
- Shake-Treated
$100K Dwelling / $50K Personal Property / $100K Liability | $2,401 |
$250K Dwelling / $125K Personal Property / $200K Liability | $4,023 |
$500K Dwelling / $250K Personal Property / $300K Liability | $6,529 |
$750K Dwelling / $375K Personal Property / $500K Liability | $9,299 |
$1M Dwelling / $500K Personal Property / $1M Liability | $12,512 |
Average Cost of Home Insurance in Arkansas for Newly Constructed Homes
Homeowners insuring new construction in Arkansas typically pay lower premiums than those with existing homes. The average annual premium for new construction is $1,889, which is less than the $4,023 average for older homes. The table below reflects how premiums vary between new and existing homes, allowing you to adjust the filter for different coverage levels.
Average Annual Home Insurance Premiums: New vs. Existing Construction
- $100K Dwelling / $50K Personal Property / $100K Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
Existing Construction (2000) | $4,023 |
New Construction (2023) | $1,889 |
Average Cost of Home Insurance in Arkansas by Claims History
In Arkansas, homeowners who have maintained a claim-free status for over five years can expect an average annual premium of $4,023. However, for those with one claim within the past five years, the average jumps to $4,848 — a $825 increase from the baseline. Homeowners with two claims in the past five years face an even steeper hike, with an average annual premium of $5,390, marking a $1,367 rise compared to claim-free individuals. These figures illustrate the financial benefit of a clean claims record when it comes to insurance costs.
Average Annual Home Insurance in New Jersey by Claims Experience
- $100K Dwelling / $50K Personal Property / $100K Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
Claim free for 5+ years | $4,023 |
1 claim in past 5 years | $4,848 |
2 claims in past 5 years | $5,390 |
In Arkansas, tornadoes, earthquakes, hurricanes and ice storms are the most costly natural disasters for homeowners. While standard home insurance policies cover tornado damage, they may not always cover damage from ice storms, hurricanes and earthquakes which can lead to confusion for policyholders. It is important to learn what homeowners insurance covers.
How to Shop for Home Insurance in Arkansas
Shopping for home insurance in Arkansas doesn't have to be a chore. In fact, finding the right policy at a fair price can be quite straightforward. It's a matter of being informed and looking in the right places. Here's how to find the best deal for you.
- 1
Understand Your Needs
Think about what you want to protect.
- 4
Check for Discounts
Ask about bundles and discounts to save money.
- 5
Review Providers
Choose a company with a good claims experience.
- 6
Purchase Policy
Buy the policy that fits your needs and budget.
Bundling Home Insurance With Auto Insurance in Arkansas
In Arkansas, homeowners who bundle their home and auto insurance can unlock savings on their overall insurance costs. By opting for a multipolicy bundle, you could save anywhere from $176 to $1,108, with an average savings of about 17%. These figures are based on MoneyGeek's comprehensive analysis of the best and cheapest home and auto bundle companies in Arkansas. To explore the potential for savings through bundling visit our bundle analysis.
Home Insurance Discounts in Arkansas
Arkansas homeowners can shave dollars off their insurance bills with various discounts.
- Impact-resistant roof discount: For homes with roofs built to withstand severe weather.
- Home safety features discount: Savings for installations like burglar alarms and smoke detectors.
- Loyalty discount: Reduced rates for customers who stay with the same insurer over time.
For a more comprehensive look at how you can save, explore our guide on home insurance discounts. Remember, to capture the full range of discounts, make it a point to inquire during the quote process.
FAQ: Homeowners Insurance in Arkansas
On average, what is the cheapest insurer in Arkansas?
In Arkansas, Shelter offers the lowest average premium at $2,158. For more options, explore cheap national providers.
Is tornado coverage included in Arkansas homeowners insurance?
Homeowners insurance in Arkansas typically covers tornadoes. Explore additional coverage options for natural disasters
What is the biggest factor that impacts the price of homeowners insurance in Arkansas?
Credit rating is a significant factor, with premiums ranging from $2,356 for excellent credit to $10,896 for poor credit.
In Arkansas, how much, on average, can I save by bundling my homeowners insurance with auto?
Arkansas residents save an average of 17% by bundling home and auto.
Additional Resources for Homeowners Insurance in Arkansas
Here are some key sources that can provide valuable information:
- Arkansas Insurance Department: Official state resource for insurance regulations.
- Affordable Home Insurance in Arkansas: Find cost-effective options for your home.
- Arkansas Homeowners Insurance Calculator: Estimate your potential insurance costs.
- High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
- Top Home Insurance Options in Arkansas: Compare the best insurance providers.
- Personal Property Coverage Essentials: Guide to personal property insurance needs.
- Report Insurance Fraud: Online system for reporting insurance fraud.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.