Your driver profile and level of coverage have a significant impact on the cost of your auto insurance. The average driver in Arkansas pays $1,189 for auto insurance. however, if you only have a minimum coverage policy, you’ll pay significantly less at $622 per year, on average. Incurring a traffic violation or adding a young driver to your policy will increase the cost of your insurance to approximately $1,598 and $3,121 per year, respectively.
Even for the same level of coverage, the provider you choose can significantly affect the price of your insurance. For a full coverage policy in Arkansas, you can spend as little as $866 per year with Geico or as much as $1,918 per year with MetLife.
Reading: How much is car insurance in arkansas per month
Several factors affect auto insurance rates in Arkansas. The biggest factor that affects how much auto insurance costs in Arkansas is age. bad credit is the second.
You can click on driver profiles to see more information about the average cost of car insurance for each.
average car insurance costs in arkansas
why are auto insurance rates reasonable in arkansas?
The difference between auto insurance rates in Arkansas varies depending on the amount of coverage you purchase. Your liability limits and whether you include comprehensive and collision insurance help determine how much auto insurance costs in arkansas.
A liability only policy that meets the minimum requirements of the state of arkansas costs about $622 per year. By comparison, if you choose to purchase a full coverage policy, the premium increases to an average of $1,189 per year. that’s a difference of $567.
average cost of car insurance in arkansas by level of coverage
A state minimum policy in Arkansas is the cheapest insurance you can buy.
See also: How Many Jobs Are Available In Accident &Health Insurance
Please note that your liability insurance can be increased to 50/100/50 or 100/300/100. These terms serve as shorthand for liability coverage amounts above the legal minimum in Arkansas. for example, 50/100/50 indicates the following coverages:
- $50,000 bodily injury liability insurance per person
- $100,000 bodily injury liability insurance per accident
- $50,000 in property damage liability insurance per accident
Comprehensive and collision coverage are included in a comprehensive coverage policy, which also pays for damage to your car.
Arkansas auto insurance rates can vary with different providers. If you don’t compare quotes from multiple companies, you may end up buying a policy with a higher premium.
If you’re looking for cheap liability-only coverage, Geico offers a policy for an average of $373 per year. southern farm bureau is the best option for affordable full coverage auto insurance – their policy costs $843 a year on average.
usaa offers lower rates, but its policies are only available to current and former military members and their families.
metlife offers the most expensive options for both coverages. Liability-only coverage with state minimum requirements costs an average of $1,039 per year, while you pay about $1,918 per year for full-coverage auto insurance.
arkansas average annual car insurance costs – by company
The main factor that affects the cost of auto insurance in Arkansas is age. a 40-year-old driver pays an average of $1,189 a year for auto insurance. By comparison, a policy with similar coverage for a 16-year-old averages $3,121 a year. is a difference of $1,932.
See also: How to Save on Car Insurance with Good Student Discounts – ValuePenguin
If you want to save on premiums, you might consider adding a young driver to your parent’s policy instead of getting a separate plan. First-time drivers may notice that Arkansas auto insurance rates for their profiles are similar to those of teen drivers. This is because providers also take driving experience into account when setting premiums.
Average Full Coverage Auto Insurance Costs in Arkansas – By Age
In addition to age and experience, providers also take driving history into account when setting arkansas auto insurance rates. The more serious your violation, the more expensive auto insurance in Arkansas becomes.
High-risk drivers (those with poor driving histories) tend to pay higher premiums than prudent drivers. for example, a driver with a clean driving record pays $1,189 per year on average. if he has a speeding ticket, he spends about $409 more; his premium rises to about $1,598 a year.
average full coverage auto insurance costs in arkansas, based on driving record
After age, your credit score is the biggest factor affecting your arkansas auto insurance rates. Drivers with poor credit typically pay more each year than drivers with good credit scores.
If you have poor credit, auto insurance rates in Arkansas average $2,144 per year. that’s $983 more than the premium a driver with good credit pays: his policy costs an average of $1,161.
drivers with excellent credit can get even lower rates. they spend about $203 less than drivers with good credit, with an average annual premium of $958.
average cost of full coverage auto insurance in arkansas, by credit score
Moneygeek’s analysis of arkansas auto insurance rates uses data from little rock. Auto insurance premiums vary between states, but can also be different within states. If your premium is higher than the average cost of auto insurance in Arkansas, it may be due to factors unique to your location. these include traffic accidents, the population of a city, or exposure to extreme weather conditions or natural disasters.
average full coverage auto insurance costs in arkansas, by city
If you’re reading about whether auto insurance is expensive in Arkansas, these may answer your questions.
See also: Best Cheap Health Insurance in Pennsylvania in 2022 – ValuePenguin