Cheapest Homeowners Insurance in Arkansas (2024 Rates)


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Updated: May 22, 2024

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Arkansas providers offer cheaper options tailored to specific needs. For example, while Shelter is the most affordable for $100K coverage, State Farm is the cheapest for $1 million coverage. Similarly, State Farm is the most reasonable for those bundling auto and home insurance, presenting varied savings opportunities.

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2024

Why Trust MoneyGeek? MoneyGeek used information from the Arkansas Insurance Department and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Arkansas as of 2024.

Overall Cheapest Homeowners Insurance in Arkansas

In Arkansas, the most budget-friendly home insurance is provided by Shelter, with rates averaging $964 annually for $100K in dwelling coverage. It's crucial to note that dwelling coverage levels significantly influence home insurance premiums. Here's a brief rundown of the cheapest providers for different coverage levels:

  • Cheapest for $100,000: Shelter at $964 per year
  • Cheapest for $250,000: Shelter at $2,158 per year
  • Cheapest for $500,000: State Farm at $3,786 per year

Explore affordable home insurance in the table below to understand how rates vary with different dwelling coverage amounts.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
ShelterAnnual Premium$964
State FarmAnnual Premium$1,262
NationwideAnnual Premium$1,810
FarmersAnnual Premium$1,917
Auto-Owners InsuranceAnnual Premium$2,195
AllstateAnnual Premium$2,550
TravelersAnnual Premium$6,863

Compare Arkansas Home Insurance Quotes Online

In Arkansas, the key to locating budget-friendly home insurance lies in getting quotes from various providers, which typically means inputting personal details. Expedite your search with MoneyGeek’s easy-to-use home insurance calculator, enabling Arkansas residents to get quotes sans immediate personal data sharing.

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Rates updated:

Jul 13, 2024

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Cheapest Home Insurance in Arkansas for High-Value Homes

For those seeking home insurance for high-value homes in Arkansas, State Farm is the most economical choice, offering a rate of $5,210 annually for $750K in dwelling coverage. The level of dwelling coverage is pivotal in determining the insurance cost, especially for high-value homes. Here are the top affordable choices for higher limits:

  • Cheapest for $750,000: State Farm at $5,210 per year
  • Cheapest for $1,000,000: State Farm at $6,600 per year

Homeowners should opt for dwelling coverage that aligns with their home's replacement cost rather than the property value. Explore cheap home insurance at MoneyGeek to grasp how costs vary with different dwelling coverage levels.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
State FarmAnnual Premium$5,210
ShelterAnnual Premium$6,197
FarmersAnnual Premium$7,584
AllstateAnnual Premium$7,606
NationwideAnnual Premium$10,032
Auto-Owners InsuranceAnnual Premium$10,155
TravelersAnnual Premium$22,092

Cheapest Home Insurance in Arkansas for New Homes

The cheapest home insurance for new homes in Arkansas, with a dwelling coverage of $100,000, is provided by Shelter at a yearly rate of $596. Homes that are newly constructed in Arkansas generally enjoy lower insurance premiums, thanks to their modern safety features and reduced risk of structural issues compared to older homes. Here are the most affordable insurance providers for new homes and different coverage values:

  • Cheapest for $100,000: Shelter at $596 per year
  • Cheapest for $250,000: Shelter at $1,316 per year
  • Cheapest for $500,000: Allstate at $2,141 per year

Explore MoneyGeek's table to understand how the cost varies based on dwelling coverage for newly built homes.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ShelterAnnual Premium$596
State FarmAnnual Premium$757
NationwideAnnual Premium$873
AllstateAnnual Premium$999
Auto-Owners InsuranceAnnual Premium$1,182
FarmersAnnual Premium$1,383
TravelersAnnual Premium$2,500

Cheapest Home Insurance in Arkansas for Low Credit Scores

For homeowners in Arkansas with poor credit and a home constructed in 2000, the most affordable home insurance provider is Shelter. For $100K in dwelling coverage, Shelter offers an annual premium of $1,521. Insurers in the state significantly weigh credit scores as they are strong indicators of the likelihood of a claim being filed, which affects insurance rates.

  • Cheapest for $100,000: Shelter at $1,521 per year
  • Cheapest for $250,000: Shelter at $3,406 per year
  • Cheapest for $500,000: Shelter at $6,648 per year

The disparity due to credit scores is evident when comparing the average annual premiums for $100K in dwelling coverage. Those with poor credit face an average yearly cost of $6,903, which is $4,394 higher than the $2,509 average for individuals with good credit.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
ShelterAnnual Premium$1,521
State FarmAnnual Premium$3,330
NationwideAnnual Premium$4,060
FarmersAnnual Premium$4,751
Auto-Owners InsuranceAnnual Premium$5,302
AllstateAnnual Premium$6,329
TravelersAnnual Premium$23,025

Cheapest Home Insurance in Arkansas With a Claims History

For homeowners in Arkansas with a claims history of at least one claim in the past five years, the most affordable home insurance provider for $100K in dwelling coverage' is Shelter, with an annual premium of $1,247. For insurers, homeowners who have made claims in the past pay more for insurance as they are perceived to be at a higher risk of filing claims again in the future.

  • Cheapest for $100,000: Shelter at $1,247 per year
  • Cheapest for $250,000: State Farm at $2,321 per year
  • Cheapest for $500,000: State Farm at $3,786 per year

The data also reveals the financial impact of filing more claims. On average, for $100K in dwelling coverage, homeowners who were claims-free in the past five years pay an annual premium of $2,509. In contrast, those with two claims pay $3,261, indicating a substantial increase in premium rates due to a history of claims.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ShelterAnnual Premium$1,247
State FarmAnnual Premium$1,262
Auto-Owners InsuranceAnnual Premium$2,195
FarmersAnnual Premium$2,237
NationwideAnnual Premium$2,812
AllstateAnnual Premium$3,555
TravelersAnnual Premium$7,758

Cheapest Home Insurance in Arkansas by Home and Roof Materials

Shelter provides the most budget-friendly home insurance in Arkansas for homes of "frame" construction type with a shake-treated roof, costing an average of $964 annually. The selection of construction type and roofing materials significantly affects the insurance cost due to their varying durability and weather resistance, which in turn impacts the potential risk of damage and insurance claims.

For a home with the aforementioned construction and roof type, here are the cheapest options for different coverage levels:

  • Cheapest for $100,000: Shelter at $964 per year
  • Cheapest for $250,000: Shelter at $2,158 per year
  • Cheapest for $500,000: State Farm at $4,091 per year

In contrast, opting for superior construction with a tile roof in Arkansas reduces insurance premiums by around $466. Choosing higher-quality construction and durable roofing can lead to significant savings on your homeowner's insurance.

Review the table below to understand how rates can vary based on your choice of construction materials, roof type and desired coverage value.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ShelterAnnual Premium$964
State FarmAnnual Premium$1,364
NationwideAnnual Premium$1,984
FarmersAnnual Premium$2,051
Auto-Owners InsuranceAnnual Premium$2,195
AllstateAnnual Premium$2,749
TravelersAnnual Premium$7,837

Cheapest Home Insurance in Arkansas by Deductible

Altering your deductible can yield potential savings of hundreds of dollars annually. For instance, Arkansas's most affordable home insurance for a $2,000 deductible is from Shelter, with an annual premium of $777. The same holds even for a $500 deductible, where Shelter again stands as the cheapest with a $1,150 yearly premium.

The most affordable firms in Arkansas for each deductible level are:

The lowest costing firms in Arkansas for each deductible level are:

  • $2,000 deductible: Shelter at $777 per year
  • $1,500 deductible: Shelter at $854 per year
  • $1,000 deductible: Shelter at $964 per year
  • $500 deductible: Shelter at $1,150 per year

A deductible in home insurance is the lump sum you give before your insurer covers the remaining expenses. The average cost variation between a $500 and a $2000 deductible within all insurers is $486.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
ShelterAnnual Premium$777
State FarmAnnual Premium$1,164
NationwideAnnual Premium$1,358
FarmersAnnual Premium$1,841
Auto-Owners InsuranceAnnual Premium$1,845
AllstateAnnual Premium$2,165
TravelersAnnual Premium$6,122

Cheapest Home and Auto Insurance Bundle in Arkansas

Bundling home and auto insurance in Arkansas is cheapest with State Farm, costing an average of $2,462 annually. Below are the top three most affordable home and auto insurance bundle providers in Arkansas:

  • State Farm at $2,462 per year
  • Farmers at $3,089 per year
  • Nationwide at $3,721 per year

Bundling not only gives you savings but also simplifies the management of your policies under one insurer. This means streamlined communication and more efficient policy management. For more specifics, explore options for the best Arkansas insurance bundle today.

State FarmAnnual Premium$2,462
FarmersAnnual Premium$3,089
NationwideAnnual Premium$3,721
AllstateAnnual Premium$4,043
Auto-Owners Insurance CoAnnual Premium$4,229
TravelersAnnual Premium$8,257

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick 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.