Best and Cheapest Home Insurance Companies in Arkansas (2024)

Best Cheap Home Insurance in Arkansas

Cheapest home insurance in Arkansas

State Farm offers the cheapest homeowners quotes in Arkansas, with an average rate of $2,270 per year. That's 30% less expensive than the average price among home insurance companies in Arkansas for $350,000 of dwelling coverage.

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Home insurance in Arkansas is 50% more expensive than the average cost of home insurance nationwide, which is $2,151 per year.

Cheapest home insurance companies in Arkansas by dwelling coverage amount

Best home insurance in Arkansas for most people: State Farm

Best home insurance coverage options in AR: Farmers

Best for Arkansas mobile homes: Foremost

Best for military families in Arkansas: USAA

Average home insurance cost in Arkansas

That's one and a half times as expensive than the national average of $2,151 per year.

Average cost of home insurance in AR by dwelling coverage amount

Homeowners insurance in Arkansas is about average compared to its neighboring states. Missouri and Mississippi are slightly cheaper, at around $3,000 per year. But Oklahoma, where a typical policy costs $4,799 per year, is almost twice as much as Arkansas.

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Arkansas home insurance rates by city

Guion, a small town near Arkansas' northern border, is the most expensive city for home insurance, with an average rate of $3,766 per year, which is 16% above the state annual average. A high tornado risk is likely the reason behind the town's higher home insurance rates.

Best-rated homeowners insurance companies in Arkansas

State Farm and USAA are the best-rated home insurance companies in Arkansas.

State Farm has lots of local offices around Arkansas, and the company receives positive reviews from its customers.

USAA also gets good ratings; however, it is online-only, and you must be affiliated with the military to buy a policy.

What home insurance do I need in Arkansas?

As a southern state, Arkansas' most common home insurance perils are from tornadoes and other seasonal storms. For example, Arkansas is among the more tornado-prone states in the U.S., with 41 tornadoes in the state in 2021. For the most part, the damage these storms can do to your home is covered by standard home insurance, with one major exception: flooding.

Is wind damage covered by AR homeowners insurance?

Wind damage is a common cause of homeowners insurance claims in Arkansas, and, fortunately, it's almost always covered by homeowners insurance. Wind damage is one of the named insurance perils that appears on the majority of insurance policies. This is true whether the wind damages your home directly, such as by tearing shingles off your roof, or if it causes damage indirectly by knocking a tree onto your house.

Is flood damage covered by homeowners insurance?

Flood damage is an increasing concern for Arkansas homeowners, especially those who live near a major river.

Unfortunately, flooding is almost never covered by standard homeowners insurance. If your home is at risk of flooding, you'll need to buy a separate flood insurance policy to protect your property. Homeowners in high-risk areas may be required to buy a policy in order to qualify for a mortgage.

There are two main types of flood insurance: policies sold through the National Flood Insurance Program (NFIP), which are backed by the federal government, and private policies sold and backed by insurance companies.

The main benefit of NFIP-backed flood insurance is that nearly anyone can buy a policy, regardless of how likely your home is to flood. However, there's a strict waiting period of 30 days, and you can only buy up to $250,000 of dwelling coverage.

Private insurance policies offer more flexibility when it comes to coverage limits and waiting periods, but homes at high risk of flood damage may be denied coverage.

How to get cheaper home insurance in Arkansas

There are three main ways to get cheaper home insurance in Arkansas: compare quotes, qualify for discounts and change your coverage.

Shopping for rates from multiple companies is the best way to lower your home insurance payments.

There's a difference of $1,842 per year between the cheapest and most expensive home insurance companies in Arkansas. And rates change every year, so it's a smart idea to shop around regularly.

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Most home insurance companies offer at least a few discounts to help you save on home insurance.

The best common discount is to bundle your home insurance with a cheap auto insurance policy in Arkansas. Some companies also offer discounts for military members, government employees or retirees.

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You can also lower your home insurance rates by raising your deductible or lowering your coverage limits.

A higher deductible means the insurance company will pay you less money to fix your damaged home. It's important to choose a deductible you can easily pay in an emergency.

You can also adjust your coverage limits and get rid of extra coverages you may not need. However, make sure your limits are high enough to cover the cost of rebuilding your home and replacing your belongings if you have a major accident.

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Frequently asked questions

Methodology

To find the best homeowners insurance in Arkansas, ValuePenguin collected quotes from the top companies across every residential ZIP code in the state. Rates are for a 45-year-old married man with no prior insurance claims.

Quotes include the following coverage limits:

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. Quadrant's rates were publicly sourced from insurer filings and should only be used for comparative purposes.

Home insurance ratings are based on complaint data from the National Association of Insurance Commissioners (NAIC), the J.D. Power customer satisfaction survey, and ValuePenguin's ratings.