Average Cost of Homeowners Insurance in Arkansas (2024)

The average cost of homeowners insurance in Arkansas in 2024 is $4,023, while the national average is $2,423. Aside from coverage amount, the insurance provider has the most notable effect on premiums, with a range reaching up to $9,640 between the lowest and highest options. If you're noticing a spike in your rates, our analysis of the cheapest policies in the state might guide you to more affordable coverage.

In Arkansas, homeowners insurance averages $4,023 annually for policies with $250K Dwelling / $125K Personal Property / $200K Liability coverage. This is more than the national average by $1,600.

When considering how much coverage you need, it's important to have enough to rebuild your home and cover all other associated costs. For example, choosing $100K in dwelling coverage leads to an annual premium of $2,401. If your property is larger and requires $500K in dwelling coverage, the annual premium jumps to $6,529.

Premiums for homeowners insurance in Arkansas can vary significantly among providers, even for similar levels of coverage. Shelter, for example, offers an annual premium of $2,158, while Travelers' equivalent coverage soars to $10,604. For those seeking comprehensive insights, there are plenty of great providers in Arkansas. Differences in underwriting criteria, regional risk assessments and company-specific discounts can influence these costs.

Homeowners in Arkansas with poor credit pay an average annual premium of $10,896 for homeowners insurance, considerably higher than the $2,356 average for those with excellent credit. This stark contrast demonstrates the impact credit scores have on insurance rates, with poor credit resulting in premiums that are $6,873 above the state average of $4,023.

While immediate improvement of your credit score may not be feasible, long-term credit management can lead to lower rates. In the interim, shopping around for insurance could yield savings. Comparing insurers can be done swiftly and you can discover which insurer will save you the most in Arkansas in under 15 minutes.

The type of roof on your home influences your homeowners insurance premium, though it's not the most significant factor. In Arkansas, materials like tile, which offer durability, can lower insurance costs. Conversely, shake-treated roofs, which are less resistant to certain perils, such as severe weather, may increase premiums.

Similarly, the construction type of your home affects insurance rates due to material resilience against potential damages. For instance, homes constructed with superior materials that are more fire-resistant could see more favorable insurance premiums. Standard frame construction, which is less robust, might incur slightly higher costs.

Use the drop-downs on the table below to see how premiums change based on your home's materials.

Homeowners insuring new construction in Arkansas typically pay lower premiums than those with existing homes. The average annual premium for new construction is $1,889, which is less than the $4,023 average for older homes. The table below reflects how premiums vary between new and existing homes, allowing you to adjust the filter for different coverage levels.

In Arkansas, homeowners who have maintained a claim-free status for over five years can expect an average annual premium of $4,023. However, for those with one claim within the past five years, the average jumps to $4,848 — a $825 increase from the baseline. Homeowners with two claims in the past five years face an even steeper hike, with an average annual premium of $5,390, marking a $1,367 rise compared to claim-free individuals. These figures illustrate the financial benefit of a clean claims record when it comes to insurance costs.

Shopping for home insurance in Arkansas doesn't have to be a chore. In fact, finding the right policy at a fair price can be quite straightforward. It's a matter of being informed and looking in the right places. Here's how to find the best deal for you.

In Arkansas, homeowners who bundle their home and auto insurance can unlock savings on their overall insurance costs. By opting for a multipolicy bundle, you could save anywhere from $176 to $1,108, with an average savings of about 17%. These figures are based on MoneyGeek's comprehensive analysis of the best and cheapest home and auto bundle companies in Arkansas. To explore the potential for savings through bundling visit our bundle analysis.

Arkansas homeowners can shave dollars off their insurance bills with various discounts.

• Impact-resistant roof discount: For homes with roofs built to withstand severe weather.
• Home safety features discount: Savings for installations like burglar alarms and smoke detectors.
• Loyalty discount: Reduced rates for customers who stay with the same insurer over time.

For a more comprehensive look at how you can save, explore our guide on home insurance discounts. Remember, to capture the full range of discounts, make it a point to inquire during the quote process.

Here are some key sources that can provide valuable information:

• Arkansas Insurance Department: Official state resource for insurance regulations.
• Affordable Home Insurance in Arkansas: Find cost-effective options for your home.
• Arkansas Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Arkansas: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.