Average Costs and Cheapest Homeowners Insurance Companies in Arkansas

While Farmers is overall the cheapest homeowners insurance company in Arkansas, Travelers offers the most inexpensive policies for higher value homes and newer homes, homes with a swimming pool and individuals with bad credit scores.

MoneyGeek analyzed thousands of quotes in Arkansas to calculate average rates and find the cheapest company for you.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Arkansas if you want to balance cost and quality.

MoneyGeek analyzed thousands of quotes in Arkansas to find which companies offer affordable policies at different dwelling coverage levels. We discovered that Travelers offers the cheapest homeowners insurance in Arkansas for a baseline dwelling coverage of $100,000 for an average of $988 annually.

MoneyGeek also researched the following cheapest companies for different coverage levels:

• Cheapest for $100,000: Travelers
• Cheapest for $250,000: Travelers
• Cheapest for $500,000: Farmers

If you have a military background and are looking for a policy with $500,000 in dwelling coverage, USAA may be the best option for you.

You can look at the table below to understand how different options affect the cost of dwelling coverages that suits your needs. It’s best to estimate the replacement cost of your home to find out how much dwelling coverage you need.

The amount of coverage you select for your policy can significantly affect the average cost of homeowners insurance in Arkansas. On average, it costs $2,039 per year to buy a policy with a baseline dwelling coverage of $100,000.

Your dwelling coverage level is the most significant factor in determining your rates. Buying high dwelling coverage is more beneficial, but it costs more. For instance, dwelling coverage of $100,000 costs an average of $2,039 per year, while it costs $47,055 annually for coverage of $3,000,000.

Your homeowners insurance cost in Arkansas is calculated based on your circumstances and region-related factors. The provider will consider various elements to determine your quote, including your home’s dwelling value, age, location, roof quality and proximity to a fire department.

You can adjust your dwelling coverage limits, deductible and other limits to see how average costs in Arkansas will change depending on your needs.

MoneyGeek researched thousands of quotes from different companies for individuals with expensive homes looking for a policy with $2,000,000 in dwelling coverage. We found that the following insurers offer cheap homeowners insurance for expensive homes:

• Farmers: $10,683 per year
• Travelers: $16,431 per year

If you have a military background and own an expensive home, USAA may be the lowest-cost option for you at an average of $8,405 per year.

Since homeowner insurance rates vary significantly for expensive homes, it’s best to shop around and compare quotes to find a policy that fits your needs.

MoneyGeek ranked the following companies that offer the cheapest homeowners insurance policies with $250,000 in dwelling coverage for newer homes. The rankings were determined using a sample home built in 2015.

• Travelers: $1,344 per year
• Farmers: $1,886 per year

USAA also offers one of the cheapest policies for newer homes at an average cost of $1,447 per year. However, its policies are limited to military families.

Homeowners insurance can be as much as $815 cheaper for a home built in 2015 than a home constructed in 2000.

The numbers for homes built in 2000 are different from the first section due to a different ZIP code collection process.

On average, it costs $2,004 per year to insure a home built in 2015. By contrast, a homeowners insurance policy for a house constructed in 2000 costs an average of $2,819 per year. That’s a difference of $815.

Older homes were usually built with expensive materials. They are costlier to repair currently. Older houses tend to have more wear and tear, so insurance companies consider them riskier and charge higher rates.

If you have a swimming pool at your home and are looking for a policy with $250,000 in dwelling coverage, MoneyGeek found that the following companies offer the cheapest homeowners insurance policies in Arkansas:

• Travelers: $2,060 per year
• Farmers: $2,332 per year

If you have a pool, there's a greater chance of pool-related injuries and incidents like drowning. That’s why insurers consider it a liability risk and require you to buy a policy with a high amount of liability coverage.

In Arkansas, your homeowners insurance costs may change depending on whether or not you have a swimming pool. On average, it costs $2,819 per year to buy a policy with $250,000 in dwelling coverage for homes that have swimming pools.

MoneyGeek researched thousands of companies in Arkansas for individuals with a bad credit score looking for a policy with $100,000 in dwelling coverage. The most affordable options are:

• Travelers: $1,716 per year
• Nationwide: $3,293 per year

The insurance companies consider individuals with low credit scores risky to insure and charge them high rates because they are more likely to file claims or fall behind on premium payments.

Your credit scores have a significant impact on the cost of homeowners insurance in Arkansas. MoneyGeek’s research shows that individuals with good credit scores pay an average of $3,642 per year, while those with low credit scores pay $7,262 annually. There’s a difference of $3,621.

The cost of homeowners insurance in Arkansas may change depending on your location in the state.

MoneyGeek’s research shows that Travelers offers the cheapest policy for coverage of $100,000 for homes in Little Rock, at an average cost of $988 per year. That is $1,051 cheaper than the average cost of a home insurance policy in the city.

Finding the best homeowners insurance in Arkansas requires you to provide insurers with basic information about yourself, such as your name, address and Social Security number. You also have to prepare information to help insurance carriers calculate your annual premium. For instance, you will need to know the current value of your home and everything inside it.

You also need to inform providers about the age of your home, the type of home you own, the materials it is made of, its condition and the estimated cost in case it needs rebuilding. Having a security system or solar energy panels in place may also impact your annual premium.

You need to provide this information to get a binding home insurance quote estimate from an insurance company. Discussing your options will help you find the right coverage for you.

You can also get an anonymous home insurance estimate using MoneyGeek’s home insurance calculator, compiled using thousands of quotes.

MoneyGeek analyzed homeowners insurance premiums from 8 of the top insurance companies in Arkansas that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Arkansas. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $100,000, liability coverage of $100,000 and personal property coverage of $100,000.