Average Costs and Cheapest Homeowners Insurance Companies in Arkansas

In Arkansas, the average cost of a homeowners insurance policy is $2,039 per year. MoneyGeek found that Travelers offers the most affordable homeowners insurance in Arkansas at an average cost of $988 per year. These figures are for a representative $100,000 policy and home. MoneyGeek analyzed homeowners insurance costs for different types of homes and for individuals with different backgrounds.

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Last Updated: 6/25/2022
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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.

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The Cheapest Homeowners Insurance in Arkansas

The Cheapest Homeowners Insurance Quotes in Arkansas

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.

CHEAPEST HOMEOWNERS INSURANCE BY DWELLING COVERAGE

Dwelling Coverage:

$100,000

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How Much Homeowners Insurance Costs in Arkansas on Average

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.

AVERAGE COST OF HOMEOWNERS INSURANCE BY DWELLING COVERAGE

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  • Dwelling Coverage
    Average Annual Premium
  • $100,000
    $2,039
  • $250,000
    $3,508
  • $500,000
    $6,247
  • $750,000
    $9,534
  • $1,000,000
    $13,441
  • $2,000,000
    $29,002
  • $3,000,000
    $47,055

Find the Cheapest Homeowners Insurance in Arkansas With MoneyGeek’s Calculator

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.

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Home Insurance Calculator

State

Arkansas

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$20,000

Credit Score

Excellent
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on average

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These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Companies for Expensive Homes

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.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HIGH-VALUE HOMES

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The Cheapest Homeowners Insurance Companies for Newer Homes

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.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR OLDER HOMES

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The Average Cost of Homeowners Insurance in Arkansas for Newer Homes

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.

AVERAGE COST OF HOMEOWNERS INSURANCE BY HOME AGE

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  • Year of Construction
    Average Annual Premium
  • 2015
    $2,004
  • 2000
    $2,819

The Cheapest Homeowners Insurance Companies in Arkansas if You Have a Pool

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.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HOMES WITH A POOL

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The Average Cost of Homeowners Insurance in Arkansas for Pool Owners

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.

AVERAGE COST OF HOMEOWNERS INSURANCE WITH AND WITHOUT POOL

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  • Have a Pool?
    Average Annual Premium
  • With Pool
    $2,819
  • No Pool
    $2,819

Cheapest Home Insurance in Arkansas if You Have Poor Credit

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.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR POOR CREDIT

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The Average Cost of Homeowners Insurance in Arkansas by Credit Score

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.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CREDIT SCORE

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  • Credit Score
    Average Annual Premium
  • Poor
    $7,262
  • Below Fair
    $5,405
  • Fair
    $4,364
  • Good
    $3,642
  • Excellent
    $3,129

Cheap Homeowners Insurance Quotes in Your Arkansas City

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.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CITY

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  • City
    Average Annual Rate
    Cheapest Company
    Average Annual Rate
  • Little Rock
    $2,039
    Travelers
    $988

How to Get Cheap Homeowners Insurance Quotes in Arkansas

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.

FAQs About Home Insurance Costs in Arkansas

Your personal profile and the company you choose to buy a policy from determine your home insurance rates in Arkansas. MoneyGeek compiled the following frequently asked questions to help you make a better decision.

Methodology

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.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.