How Much Is Car Insurance in Arkansas?

Car insurance is a necessary expense for drivers in Arkansas. It is important to have adequate coverage to protect against potential accidents and damages. However, the cost of car insurance can vary significantly depending on several factors, including age, driving history, and location.

According to recent data, the average cost of car insurance in Arkansas is $1,768 per year. This is slightly higher than the national average of $1,674. The cost of car insurance has steadily increased in Arkansas over the past few years, with the steepest increase occurring in 2016.

While car insurance can be expensive, it is important to shop around and compare rates from multiple insurers to find the best deal. Factors such as age, driving history, and the type of car being insured can all impact the cost of car insurance. By taking the time to research and compare rates, drivers in Arkansas can find affordable car insurance that meets their needs.

Factors that Affect Car Insurance Rates in Arkansas

Driving Record

Your driving record is one of the most important factors that affect your car insurance rates in Arkansas. If you have a clean driving record with no accidents or traffic violations, you are likely to pay less for car insurance than someone with a history of accidents or tickets. Insurance companies consider drivers with a history of accidents or traffic violations to be high-risk and charge them higher premiums.

Age and Gender

Age and gender are also important factors that affect car insurance rates in Arkansas. Younger drivers, especially those under 25, are considered to be high-risk drivers and pay higher premiums. Male drivers also tend to pay higher premiums than female drivers because they are statistically more likely to be involved in accidents.

Location

Where you live in Arkansas can also affect your car insurance rates. If you live in an area with a high crime rate or a high number of accidents, you are likely to pay more for car insurance. Urban areas tend to have higher rates than rural areas because there is more traffic and a higher risk of accidents.

Type of Car

The type of car you drive can also affect your car insurance rates in Arkansas. Cars that are expensive to repair or replace, or that are more likely to be stolen, will generally have higher insurance rates. Sports cars and high-performance vehicles also tend to have higher rates because they are more likely to be involved in accidents.

Coverage Level

Your choice of coverage level will also affect your car insurance rates in Arkansas. If you choose a higher level of coverage, such as comprehensive or collision coverage, you will pay more for insurance. However, you will also have more protection in the event of an accident or other covered event.

Average Car Insurance Rates in Arkansas

Car insurance rates in Arkansas vary depending on several factors, including age, driving record, credit score, and location. According to Bankrate, the average cost of full coverage car insurance in Arkansas is 5.4 percent cheaper than the national average. The average premium for car insurance in Arkansas is $1,597 per year or $133 per month, according to Insure.com.

However, car insurance rates can vary significantly depending on where you live in Arkansas. For example, drivers in Little Rock, Arkansas, on average, pay 6 percent above the state average, according to Bankrate. On the other hand, drivers in Fayetteville, Arkansas, may pay lower car insurance rates due to the city’s lower population density and fewer accidents.

Age is another factor that affects car insurance rates in Arkansas. According to The Zebra, car insurance for a 16-year-old driver in Arkansas can cost up to $7,227 per year, while a driver aged between 50 and 59 pays an average of $1,287 annually.

Additionally, credit score plays a role in car insurance rates in Arkansas. According to MoneyGeek, drivers with poor credit standing may pay up to $2,144 per year on average, while drivers with excellent credit can get lower rates.

Overall, it’s important to shop around and compare car insurance rates from different providers to find the best coverage and rates for your specific situation in Arkansas.

Ways to Save on Car Insurance in Arkansas

Shop Around

One of the best ways to save on car insurance in Arkansas is to shop around and compare rates from different providers. Rates can vary widely between insurance companies, so it’s important to get quotes from multiple providers before making a decision. Online comparison tools can make this process easier and more convenient.

Bundle Policies

Another way to save on car insurance in Arkansas is to bundle policies with the same insurance company. Many providers offer discounts for customers who have multiple policies with them, such as car insurance and homeowners insurance. Bundling policies can also simplify the insurance process and make it easier to manage.

Take Advantage of Discounts

There are many discounts available that can help lower the cost of car insurance in Arkansas. For example, some providers offer discounts for safe driving, completing a defensive driving course, or having certain safety features on your car. It’s important to ask about available discounts and take advantage of them whenever possible.

Improve Your Credit Score

Believe it or not, your credit score can have an impact on your car insurance rates in Arkansas. Insurance companies often use credit scores as a factor when determining rates, so improving your credit score can help lower your premiums. Paying bills on time, reducing debt, and monitoring your credit report are all ways to improve your credit score and potentially lower your car insurance rates.