Average Cost of Homeowners Insurance in Arkansas (2024)


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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.

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Rates updated:

Dec 06, 2024

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To establish the average cost of homeowners insurance in Arkansas, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.

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These rates reflect the average cost of home insurance in Arkansas as of 2024.

691,200Quotes Analyzed
 
8Companies Compared
 
5ZIP Codes

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
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K 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
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K 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
Data filtered by:Results filtered by:
Construction:
Construction:Frame
Roof Type:
Roof Type:Composition
$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
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K 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
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Claim free for 5+ years$4,023
1 claim in past 5 years$4,848
2 claims in past 5 years$5,390
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ARKANSAS NATURAL DISASTERS AND HOME INSURANCE

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. 1
    Understand Your Needs

    Think about what you want to protect.

  2. 2
    Assess Coverage

    Decide how much coverage you need.

  3. 3
    Compare Quotes

    Look and compare quotes to find the best deal.

  4. 4
    Check for Discounts

    Ask about bundles and discounts to save money.

  5. 5
    Review Providers

    Choose a company with a good claims experience.

  6. 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?

Is tornado coverage included in Arkansas homeowners insurance?

What is the biggest factor that impacts the price of homeowners insurance in Arkansas?

In Arkansas, how much, on average, can I save by bundling my homeowners insurance with auto?

Additional Resources for Homeowners Insurance in Arkansas

Here are some key sources that can provide valuable information:

About Mark Fitzpatrick


Mark Fitzpatrick headshot

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.