The Cheapest and Best Homeowners Insurance in Little Rock
The Cheapest Home Insurance Companies in Little Rock
Typically, insurance providers in Little Rock offer the same core coverages. Because of that, the cost is a key factor when choosing an insurer, since rates can change significantly depending on the company.
MoneyGeek’s research found these insurers offer the cheapest homeowners insurance for policies with $100,000 in dwelling coverage:
- Travelers: $988 per year
- Nationwide: $1,317 per year
Meanwhile, these carriers present the best rates for policies with $2 million in dwelling coverage:
- USAA: $8,405 per year (only available to military members, veterans and their families)
- Farmers: $10,683 per year
See how dwelling coverage limits affect premium prices using the table below.
The Cheapest Home Insurance in Little Rock, Ranked
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All quoted policies in this analysis that come with a baseline dwelling coverage of $100,000 have $40,000 in personal property coverage, while policies with $2 million dwelling coverage have $800,000 in personal property limits. Further, all policies in this analysis have $100,000 in liability coverage.
Individuals living elsewhere in the state can use MoneyGeek’s guide to home insurance in Arkansas to know more about the state’s best and cheapest policies.
The Average Cost of Homeowners Insurance in Little Rock for 2022
The average cost of homeowners insurance in Little Rock is $2,039 per year. This is equal to the Arkansas state average but lower than the national average of $2,103 per year.
Calculate the Cost of Home Insurance in Little Rock
Where you live is an important factor when calculating your homeowners insurance rates. However, your credit score and preferred dwelling and personal property coverage limits also affect your premium prices. You can use MoneyGeek’s calculator to compare homeowners insurance quotes across Arkansas.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Little Rock
There are more factors to consider when shopping for homeowners insurance in Little Rock besides affordability. It’s also a good idea to look into a company’s customer service record and financial stability. You’ll typically be making insurance claims during highly stressful situations, and you’ll want your claims to be processed quickly and fairly.
MoneyGeek ranked Little Rock’s home insurance carriers based on affordability, user satisfaction and financial stability. Based on our research, the city’s best homeowners insurance companies are:
- Best Overall: USAA (only available for current and retired military personnel and their families)
- Runner-up: Travelers
USAA is our top pick in Little Rock, with a perfect score for customer service and near-perfect rating for affordability. However, this provider is only available to current and former military members and their families.
For policyholders renting out a room or their home, USAA offers home-sharing coverage as an add-on, which pays for expenses associated with being a landlord. They also give discounts to homeowners who have protective security systems in their houses and those who remain claims-free.Read MoneyGeek's USAA home Insurance Review
Travelers is MoneyGeek’s runner-up in Little Rock, with a perfect score for affordability. They offer identity fraud expense coverage as an add-on, which isn’t available from most companies.
Policyholders can add identity fraud expense coverage to their policies. This covers up to $25,000 in costs related to restoring a person’s identity. Eco-conscious homeowners can also get extra protection from Travelers that covers the cost of repairing their houses with green materials.Read MoneyGeek's Travelers home Insurance Review
Cheapest Home Insurance Companies in Little Rock for Newly Constructed Homes
Buying insurance for newly constructed houses is cheaper in Little Rock. People with newer homes are less likely to file a claim since units with modern materials are more resistant to damage. Additionally, newer homes are easier and cheaper to repair.
The average cost of homeowners insurance in Little Rock for newly constructed houses is $1,449 per year, while it’s $2,039 per year for a home built in 2000.
For folks with newer homes, MoneyGeek’s analysis reveals these companies offer the most affordable policies in Little Rock:
- Travelers: $645 per year
- USAA: $853 per year (only available for military families)
The Cheapest Home Insurance in Little Rock for New Homes, Ranked
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Cheapest Home Insurance Companies in Little Rock if You Have a Lot of Personal Property
Both your house and your personal property are covered by your home insurance policy. If you have high-value property, you may want to increase your personal property coverage limit, but that will cause your premium prices to go up.
In Little Rock, homeowners insurance costs approximately $2,111 per year if the policy has $250,000 in personal property limits. Meanwhile, you can get a policy with a personal property limit of $100,000 at roughly $2,039 per year.
MoneyGeek’s study reveals these carriers have the most affordable prices in Little Rock for policies with high personal property limits:
- Travelers: $1,024 per year
- Farmers: $1,412 per year
Cheap Companies in Little Rock for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Little Rock for High Deductibles
Deductible amounts can significantly impact the cost of homeowners insurance. Policies with a high deductible have cheaper monthly premiums, but they require policyholders to pay more out-of-pocket if they make a claim.
On average, a homeowners insurance policy in Little Rock with a $2,000 deductible costs $1,831 per year, while a policy with a $1,000 deductible can be purchased for around $2,039 per year.
When shopping for policies with high deductible amounts, MoneyGeek’s research shows these companies have the lowest rates:
- Travelers: $919 per year
- Nationwide: $1,106 per year
The Cheapest Companies in Little Rock for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Little Rock if You Have Poor Credit
In Little Rock, your credit score is one of the factors that insurance companies use to calculate your homeowners insurance rates. You may be classified as riskier to insure if you have poor credit, so you’ll pay higher prices.
If you have a poor credit score, homeowners insurance in Little Rock costs roughly $4,085 per year, while it’s $2,039 per year on average if you have a good credit score.
MoneyGeek evaluated insurance carriers across Little Rock and found these companies have the lowest rates if you have poor credit:
- Travelers: $1,716 per year
- Nationwide: $3,293 per year
The Cheapest Companies in Little Rock for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Little Rock
Before getting an online quote from a homeowners insurance company in Little Rock, prepare the following information:
- Home replacement cost: This refers to how much it will take to rebuild your home — not your home’s market value. Insurers use this when setting your dwelling coverage limits. You can get this number by asking for an estimate from a construction professional.
- Personal property value: This pertains to the value of your personal items in your home. Providers use this to calculate your personal property limits.
- Personal information: Insurance companies will ask personal questions such as the homeowner’s address, insurance history and the number of people living in the house.
- Property information: When determining homeowners insurance rates, carriers need to know the house’s construction year, size and available safety devices.
Homeowners Insurance in Little Rock Analysis: Methodology
MoneyGeek evaluated home insurance premiums across eight homeowners insurance carriers in Little Rock. The data we used was gathered in partnership with Quadrant, and the quotes we collected were for a home with varying coverage levels to calculate affordability scores.
As a base profile, we used a homeowner with a 2,500-square-foot home that was built in 2000 with dwelling coverage of $100,000, personal property coverage of $40,000, liability coverage of $100,000 and a deductible of $1,000. We also collected quotes for homeowners with newly constructed homes, increased dwelling or personal property coverage, higher deductibles and poor credit scores. All customer satisfaction ratings in our guide came from J.D. Power.
About Mark Fitzpatrick