Best and Cheapest Renters Insurance in Little Rock, AR (September 2024)

The best renters insurance company in Little Rock, Arkansas is Nationwide with a MoneyGeek score of 96 and an annual premium of $126. The cheapest renters insurance provider is Shelter with an annual premium of $121 and a MoneyGeek score of 90. The best homeowners insurance provider should offer a balance of customer service with affordability.

Depending on your needs, other providers may be best. Travelers excels in service quality with an annual premium of $476. MoneyGeek also looked into the best and cheapest renters insurance in Arkansas for those who live elsewhere in the state.

The best renters insurance in Little Rock, Arkansas, is Nationwide, with a MoneyGeek score of 96 out of 100 and an annual premium of $126. The following providers are the two best renters insurance providers in Little Rock for a policy with $20,000 in personal property coverage, $100,000 in personal liability and a $1,000 deductible.

• Nationwide: MoneyGeek score of 96 out of 100 ($126 per year)
• State Farm: MoneyGeek score of 94 out of 100 ($130 per year)

The best provider in the state is one that balances both cost and affordability. Nationwide has perfectly balanced customer satisfaction and affordability, with an affordability score of 54 out of 55.

Shelter offers the cheapest renters insurance in Little Rock, Arkansas, with an annual premium of $121 for $20,000 in personal property coverage. Personal property coverage protects your belongings, such as furniture, electronics, and clothing, against risks like theft or damage. The following providers are the top two cheapest providers in Little Rock for $20,000 in personal property coverage and a $1,000 deductible, with MoneyGeek rating the cheapest renters insurance in Little Rock with minimal consideration for customer service.

• Shelter: $121 per year
• Nationwide: $126 per year

Cheap renters insurance policies often come with low personal property coverage limits. While this can keep your monthly costs down, opting for higher coverage limits can better protect you if you have many personal belongings.

In Little Rock, Arkansas, Encompass offers the cheapest renters insurance for a policy with $20,000 in personal property coverage and a $2,000 deductible, with an annual premium of $104. The two cheapest providers are:

• Encompass: $104 per year
• Nationwide: $107 per year

A deductible is the amount you pay out of pocket before your insurance kicks in and can affect your rates. A higher deductible often leads to cheaper premiums, while a lower deductible means higher premiums. It's important to balance both to ensure you can afford the deductible if you need to file a claim.

Travelers is the best renters insurance company for service quality in Little Rock, Arkansas, with an annual premium of $476. The following providers are the top two best in Little Rock, Arkansas, for a policy with $20,000 in personal property coverage, for those who value great customer service without considering affordability.

• Travelers: MoneyGeek score of 95 out of 100 ($476 per year)
• Nationwide: MoneyGeek score of 94 out of 100 ($126 per year)

MoneyGeek scores renters insurance providers based on customer satisfaction from J.D. Power surveys, which measure customer experiences and satisfaction levels.

Great customer service is important for renters looking for insurance because it ensures that claims are handled smoothly and efficiently. For example, when you make a claim, a company with excellent customer service will guide you through the process, ensuring you receive the help you need promptly.

For renters in Little Rock, Arkansas who need high personal property coverage, Nationwide offers a competitive annual premium of $289 for a policy with $100,000 in personal property coverage. The following providers are the two best providers in Little Rock:

• Nationwide: MoneyGeek score of 96 out of 100 ($289 per year)
• State Farm: MoneyGeek score of 95 out of 100 ($306 per year)

High personal property coverage ensures your belongings are protected up to a substantial monetary value, which is crucial if you own a significant amount of personal items. Renters with an extensive collection of belongings often require higher personal property coverage. This coverage safeguards your possessions from potential risks like theft, fire, or other damages.

Higher coverage levels come with increased premiums, so finding a provider that offers a good balance of cost and excellent service is key. You'll want peace of mind knowing your assets are protected without overpaying. Keep in mind, high-value items such as jewelry or art might exceed standard policy limits and could necessitate additional coverage.

In Little Rock, USAA is the top-ranked renters insurance company for those with military backgrounds, with an annual premium of $123. The following providers are the top two best providers in Little Rock for veterans for a policy with $20,000 in personal property coverage.

-USAA: MoneyGeek score of 100 out of 100 ($123 per year)

• Nationwide: MoneyGeek score of 96 out of 100 ($126 per year)

USAA offers a range of products tailored for those with a military background, providing discounts and coverages that suit the military lifestyle. It is also the cheapest in Little Rock for military members.

For renters in Little Rock with poor credit (542 to 577), Nationwide offers the best renters insurance with an annual premium of $308 for a policy including $20,000 in personal property coverage. The top two providers for those with poor credit in Little Rock are:

• Nationwide: MoneyGeek score of 93 out of 100 ($308 per year)
• State Farm: MoneyGeek score of 92 out of 100 ($311 per year)

In Little Rock, rates for renters with poor credit are often higher because they are considered a greater risk to insurers. Providers may view these renters as more likely to file claims, leading to increased premiums. However, you can work on improving your credit score to potentially lower your rates and should also look for discounts that might be available to you.

The average cost of renters insurance in Little Rock, Arkansas is $204 annually or $17 monthly. This cost is higher than the state average of $193 and significantly more than the national average of $145. These rates are based on a renters insurance policy with $20,000 personal property limits, $100,000 liability limits, and a $1,000 deductible.

Renters should note that the average cost of renters insurance in Little Rock may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in case of damage or theft. Use the calculator below to see how prices change based on the value of your personal property.

The cost of renters insurance in Little Rock, Arkansas, is influenced by multiple factors, including the location of the rental property and the amount of coverage desired. Understanding these variables is key to finding a policy that fits your budget and needs.

• Location: The area where you live can affect your premium due to crime rates and weather-related risks.
• Coverage Amount: Opting for higher coverage limits will increase your insurance costs.
• Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out of pocket in the event of a claim.
• Claims History: Renters with a history of claims may face higher premiums due to a higher perceived risk by insurance companies.
• Credit Score: Insurance companies may factor in your credit history when determining your premium, with better credit records often leading to lower costs.

Renters insurance primarily provides coverage for your personal belongings, but it also covers additional areas such as liability and living expenses if your rental is rendered uninhabitable. Here’s what a typical policy includes:

• Personal Property Coverage: This covers the cost to repair or replace your belongings if they're damaged or stolen. For instance, a renter in Texas may receive compensation for a stolen laptop.
• Personal Liability Coverage: This protects you financially if a guest is injured in your rental or you cause property damage. A Texas renter could use this coverage if a guest slips and falls in their apartment.
• Loss of Use Coverage: This helps with additional living expenses if your rental is unlivable due to a covered peril. A renter might rely on loss of use coverage to pay for a hotel stay after a fire.

Although renters insurance provides a financial safety net, it doesn't shield against every mishap. For instance, it typically excludes flood damage and your roommate's possessions.

• Natural Disasters: Standard renters insurance often does not cover damage from floods.
• Roommate's Belongings: Personal property coverage does not extend to items owned by a roommate unless they are listed on the policy.
• High-Value Items: Expensive jewelry or electronics may exceed the policy's limit and require additional coverage.
• Business Equipment: Property used for business purposes might not be covered under a standard renters insurance policy.
• Pest Damage: Infestations and damage from pests like bed bugs or rodents are usually not covered.
• Car Theft: While personal property stolen from your car may be covered, the theft of the car itself is not.

The best renters insurance provider for you in Little Rock ultimately depends on your needs. Below are common questions to help you make an informed decision.